Polygon (MATIC) is on a tear. In the past seven days, it has gained 35% in the past seven days, outperformed every major cryptocurrency apart from Uniswap.
There are several big reasons behind the strong uptrend of MATIC, including the growing hype around Polygon, Google BigQuery announcement, and Mark Cuban’s investment.
MATIC 1-day candle chart (Binance). Source: TradingView.comGrowing sentiment and hype around Polygon
On Feb. 9, Matic first announced its plans to rebrand to Polygon. At the time, they brought in promising metaverse projects and integrated Matic Plasma Chain.
By implementing Plasma Chains, Polygon was able to provide a layer one blockchain network with built-in scaling solutions for projects.
The Polygon team said in February:
“We implemented and offered Matic Plasma Chains, a production-ready Ethereum Layer2, predicates-based Plasma implementation; We implemented and offered Matic PoS Chain, a permissionless, EVM-compatible, PoS-secured Ethereum sidechain which relies on strong Ethereum security for validator staking and checkpoints; Onboarded 80+ amazing applications, including Polymarket, Aavegotchi, Neon District, Skyweaver, Cometh, EasyFi