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Polygon (MATIC) Sees Massive 15% Spike, Defies the Entire Crypto Market Decline

MATIC is the native cryptocurrency of Ethereum’s Layer-2 scaling solution Polygon. More so, it is showing some strength lately as it continues going up despite the entire crypto market decline. Additionally, Within the last 24-hours, the MATIC price spikes 15% moving all the way to $2.20.

Furthermore, this means that MATIC is extending its weekly gains to more than 20%. Notably, This recent price rally in Polygon (MATIC) is coming on different fact supports.

First; 21Shares Moves To Issue Polygon ETP

So, 21Shares, a cryptocurrency exchange-traded product (ETP) issuer announces on Wednesday, December 1. Then, states the launch of a Polygon ETP on Euronext exchanges in Paris and Amsterdam.

Notably, The ETP will track the performance of MATIC.

Also, For the launch of its Polygon (MATIC) ETP, the firm is now in partnership with U.K. infrastructure provider Copper. Of course, they will be offering custodial and staking requirements.

Second; IDEX Ready To Launch Hybrid Liquidity DEX on Polygon

Additionally, San Francisco-based decentralized exchange IDEX is also launching a new v3 Hybrid Liquidity DEX on network. Whereby, it will join the traditional order book functionality. Of course, together with other automated market makers’ (AMM) liquidity pools.

Lastly, It also reveals that it will be hosting the “zk Summit” next week on December 9.

“Polygon is focusing on ZK cryptography as the most promising solution for scaling #Ethereum…”
“Witness the live demos of this technology during the action-packed summit”.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.