Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Could Polygon (MATIC) Emerge as a Dark Horse in 2024?

Could Polygon (MATIC) Emerge as a Dark Horse in 2024?

BeInCryptoBeInCrypto2024/01/10 08:31
By:Ciaran Lyons

With bullish sentiments looming over the crypto industry’s imminent bull market, crypto token, Polygon, is generating significant buzz. Could it be the dark horse of 2024?

For the second day in a row, Polygon proof-of-stake (POS) has had a higher trading volume than Ethereum.

Could Polygon be the Dark Horse in the Next Bull Market?

In a post on X (formerly Twitter), co-founder of Polygon Sandeep Nailwal declares that Polygon POS reached higher trading volume than Ethereum, by approximately $93,000.

At the time of publication, Polygon ( MATIC ) price stands at $0.82.

This follows news that Fox Corporation has partnered with Polygon to verify the accuracy of news content.

According to a statement from Polygon, the program is called Verify. Publishers can register their content in order to “prove origination.”

The data will be stored on the Polygon blockchain. This will allow customers to decipher what is accurate sources, from what is not, using the tool.

Meanwhile, prominent crypto influencer Lark Davis pointed out to his 1.1 million followers that “Polygon POS has surpassed Solana in terms of daily active addresses.”

Polygon’s Price Coverage in Recent Times

BeInCrypto has been reporting on MATIC’s price movements regularly in recent times.

On January 9, it was reported that Polygon’s MATIC price bounced after the team announced a new upgrade on transaction fee calculations.

Despite the bounce, MATIC still trades inside a bearish pattern. This has gone on for nearly 60 days.

Furthermore, it was reported that the  MATIC price experienced a decline below a long-term descending resistance trend line since December 2021, when it was trading at its all-time high of $2.90.

This rapid descent led to a low of $0.32 in June.

 

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our  Terms and Conditions ,  Privacy Policy , and  Disclaimers  have been updated.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Ethereum exchange BunniXYZ drained for $2.3M in smart contract exploit

Share link:In this post: BunniXYZ was exploited through its liquidity rebalancing smart contract, moving $2.3M. The exploiter performed multiple transactions to use the smart contract bug, which performed flawed calculation and awarded more tokens. BunniXYZ had one of its most successful months in August, reaching peak TVL at over $60M.

Cryptopolitan2025/09/02 10:50

South Korea to join OECD’s crypto-asset reporting framework

Share link:In this post: South Korea will join the OECD’s crypto asset reporting framework and plans to implement it in 2026. Korean cryptocurrency exchanges such as Upbit and Bithumb will be required to report foreign investor transaction data. The cross-border exchange of information among the 48 countries on the OECD framework is planned to begin fully in 2027.

Cryptopolitan2025/09/02 10:50
South Korea to join OECD’s crypto-asset reporting framework

Crypto investors wary as Chinese margin debt hits record highs

Share link:In this post: Chinese margin debt hits a record $320 billion, surpassing 2015 levels, fueling a strong rally in local equities. Crypto traders remain cautious, with funding rates showing moderate leverage despite rising risk appetite in global markets. The renminbi strengthens and easing US-China trade tensions bolster investor sentiment, but slowing growth raises caution.

Cryptopolitan2025/09/02 10:50
Crypto investors wary as Chinese margin debt hits record highs

Trump slams India’s trade strategy as Modi denies tariff cut claim

Share link:In this post: Trump called India’s trade policy a “one-sided disaster” after Modi’s visit to China. The U.S. imposed 50% tariffs on India over Russian oil and high import duties. India rejected the tariffs and accused the U.S. and EU of hypocrisy over Russia.

Cryptopolitan2025/09/02 10:50
Trump slams India’s trade strategy as Modi denies tariff cut claim