Members of the crypto neighborhood have forged their ballots, so to talk, and now we’ll discover out whether or not or not their forecast was correct.
The consensus of the cryptocurrency market predicts a 20% improve in MATIC costs earlier than the month ends, as reported by CoinMarketCap’s value prediction metrics.
This pretty optimistic forecast from the neighborhood suggests a excessive degree of religion in each the token and the ecosystem.
Excellent news has not too long ago hit the Polygon neighborhood because of a tweet from the official Polygon Twitter account asserting a brand new collaboration with the buying and selling platform Robinhood.
Will Robinhood Workforce-Up Convey Good Outcomes?
The tweet means that Robinhood has teamed up with Polygon to supply a bitcoin pockets service. FThe Robinhood Pockets app is constructed with DeFi in thoughts.
In accordance with Polygon’s weblog publish, the Robinhood Pockets is a self-custody pockets, which means that its proprietor has full discretion over their cryptocurrency holdings.
Robinhood has made different forays into the cryptocurrency market, so this isn’t their first enterprise.
From its inception in 2018, it has been actively concerned within the crypto trade, with Bitcoin and Ethereum being the primary cash to be freely traded on the platform for free of charge to merchants. The change started in a choose variety of states.
By 2021, the commerce of crypto belongings has expanded throughout the entire United States, except Hawaii and Nevada.
The buying and selling platform helps 11 cryptocurrencies, together with Bitcoin and Ethereum. It additionally facilitates the buying and selling of other cryptocurrencies, much like Polygon’s MATIC token.
With over 37,000 decentralized functions out there on Polygon’s platform, it would undoubtedly support Robinhood’s most bold cryptocurrency endeavor. However how did buyers and merchants of Polygon reply to the information?
Rally In The Offing For Crypto?
As of this writing, MATIC is buying and selling at $$0.778741, down 0.1 % within the final seven days, information from Coingecko present, Saturday.
Presently, the token trades between the 50 Fib degree ($0.6876) and the 61.80 Fib degree ($0.7761).
The current assist line lies at $0.7252, which is crucial as a result of this would be the assist line the bulls can depend on if issues go south.
If the value reaches the 61.80 Fib degree once more, we will anticipate a slight correction if there’s ample purchase demand.
Investor confidence is excessive as Polygon presses ahead with its Robinhood relationship, given the neighborhood projection of a close to 20% value improve.
MATIC complete market cap at $6.8 billion on the each day chart | Supply: TradingView.com Featured picture from VOI, Chart: TradingView.com