Polygon (MATIC) has seen an explosion on the daily chart with a 40.4% rally trading at $0,74. In the weekly and monthly chart, MATIC’s numbers are equally impressive with a 118% and 114% bull-run. Most of the profits seem to have been recording over the past three months.
MATIC with heavy gains in the daily chart. Source: MATICUSDT Tradingview
Previously knows as Matic Network, the project was rebranded Polygon at the end of February. A second-layer solution for Ethereum. The project seeks to be a version of Polkadot on this blockchain and create an interoperable sidechains ecosystem with high scalability.
In parallel with its price rally, Polygon has seen a major explosion in its total value locked (TVL). Data from DeFi Pulse records a $1.12 billion with a 32.6% increase in 24-hours. The protocol has 126.400 ETH locked with 19.600 added in the past day.
As the chart below shows, MATIC went parabolic in TVL by mid-April 2021. Although