Polygon price forecast: analyzing ASM partnership, NFT popularity

By: Invezz

Polygon Studios is Polygon’s arm for blockchain gaming as well as an NFT ecosystem.

Polygon MATIC/USD is a multi-level platform developed to help scale Ethereum thanks to sidechains, all of which unclog the main platform in an efficient, low-cost way.

The Altered State Machine (ASM) partnership as a catalyst for growth

Polygon Studios have announced the partnership with Altered State Machine (ASM).

This collaboration has the potential to push Polygon Studios’s momentum to mainstream audiences.

Throughout this alliance, the company will invest in ASM through using the Polygon Studios’ fund.

The team believes that they can open up a new chapter of possibilities which will, in turn, enhance the greater services in the future.

Additionally, the adoption rates for Ethereum 2 solutions continue to rise as the number of Polygon’s daily addresses flipped Ethereum’s for the first time last week.

According to data from Etherscan, the number of active addresses on Polygon has grown by 168% in the past 30 days, while Ethereum’s count has gone up by 0.6%, according to data from Etherscan

This surge in adoption is due to NFTs and gaming and could result in the increase of the MATIC token in the short term, according to Marcus Sotiriou, a Sales Trader at the UK-based digital asset broker GlobalBlock

Should you invest in Polygon (MATIC)?

On October 4, Polygon (MATIC) had a value of $1.258.

To get a better perspective of what kind of the point of value this is for the token, we will be going over it’s all-time high value as well as its performance in September.

Polygon achieved its all-time high value on May 18 where it hit $2.62. When we compare it to the value the token had on October 4, we can see that it’s all-time high value is $1.362 higher or 108% higher in value.

Polygon (MATIC) started off September strong, with a value of $1.772 on September 5.

This being said, over time, it dropped to the lowest point of value of September at $1.038 on September 22. Here we can see that the token decreased in value by $0.734 or by 41% throughout September.

However, from September 22 to October 4, the token increased by $0.22 or 21%.

According to data from IntoTheBlock, Polygon, within the last seven days, saw $344.92 million in transactions greater than $100,000.

Additionally, it saw $75.72 million in total exchange inflows as well as $84.82 million in total exchange outflows.

According to all of this data, we can expect the MATIC token to increase in value to $1.698 by the end of October as a result of all of these developments.

The post Polygon price forecast: analyzing ASM partnership, NFT popularity appeared first on Invezz.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.