Polygon’s MATIC takes +23% following the partnership with Disney

When a giant like Disney is interested in a project, it usually has an effect. Polygon has just confirmed this, since its MATIC token jumped by +23% over the week, against other cryptocurrencies which continue to look gray.


Polygon’s MATIC jumped +23% over the week

We explained it to you yesterday, the Disney group seems to have turned its attention to Web3, if we are to believe the projects that have recently joined its support program. Announced on Wednesday, the partnerships should allow Disney to explore the metaverse and non-fungible tokens (NFTs).

In any case, the announcement had an immediate effect on the course of the MATIC. This last jumped +41% in less than two daysin a rather gloomy context for the rest of the cryptocurrencies:

MATIC pump Disney course

MATIC price jumps following Disney announcement

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Since then, the price has fallen again, with the MATIC posting โ€œonlyโ€ +23% over the week. For comparison, the price of Bitcoin (BTC) suffers a fall of -5% over the same periodand Ether (ETH) lost -3.7%.

This morning, one MATIC is trading for $0.69. Polygon’s total cryptocurrency capitalization reached 5.5 billion dollarswhich allows him to move up to 16th place in the standings.

In any case, we note a certain enthusiasm for Polygon lately. Already, the Ethereum network scalability solution had announced that it had recovered some of the projects from the deceased Terra (LUNA) earlier this week. In addition, the company seems for the moment little affected by the bear market: it announced in June to accelerate recruitment.

๐Ÿ‘‰ Read also โ€“ Instagram will support NFTs from Ethereum, Polygon, Solana and Flow

Source: TradingView, MATIC/USDT

published by editions Larousse

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