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  • Writer's pictureSarah Dixon

Here’s Why Polygon Price Is Up 10% to $1.10 – Can MATIC Reach $3?

The Polygon Network’s MATIC token has been one of the best-performing altcoins in the market in the past 24 hours. And as expected, investors are wondering whether this asset could be poised for even bigger gains going forward.

MATIC Bucks the Market Trend

Heading into Friday, the crypto market appears to be slowing a bit. The market has so far held its gains in the face of mounting challenges, but all signs point to a slight cooling going into the weekend.

To wit, the broader market is up by just 0.09% in the past 24 hours. Of course, this won’t scare investors much, and with a total capitalization of over $1.05 trillion, crypto is still as healthy as it’s been this year. Several major coins are still holding on to their milestone points.

As for MATIC, however, the coin has been on an impressive roll thus far. With a price of $1.08, MATIC is up by an impressive 8.31% in the past 24 hours.

MATIC’s price gain has helped its technicals as well. The digital asset is trading close to its short-term moving average (MA) indicators, especially the 10-day MA of $1.0782. A sustained rally should see the asset cross these indicators, setting it up for even more gains.

MATIC is currently giving off a sell signal with a negative moving average convergence divergence (MACD). However, investors would also be pleased to see the coin’s relative strength index (RSI) standing at 41.40. This is a clear indication that MATIC is not overbought yet.

Polygon Network Signs New Partner

While the market’s dynamics continue to change, MATIC investors would be glad to see that the Polygon Network continues to expand. This week, Fractal, a platform that enables the development of game-related non-fungible tokens (NFTs), announced that it would move to the Polygon Network in order to bolster its accessibility.

The company, which was founded by Twitch co-founder Justin Kan, explained that this move would help to improve user acquisition and allow it to access the tools and infrastructure required to spur proper game development. Besides the migration, the companies have also agreed to see Polygon Ventures make a strategic investment in Fractal.

An addition of this magnitude will surely improve Polygon’s fundamentals and those of MATIC as an investment asset.

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MATIC Alternatives to Consider

While MATIC is one of the best performing cryptos in the market at the moment, potential investors may be interested in researching several interesting new coins. Those looking for short-term and long-term gains should consider the best altcoins listed below.

RIA, the native token for Calvaria: Duels of Eternity, is tipped to be the next big thing in blockchain gaming. This play-to-earn game includes a variety of game modes, such as one-on-one battles, tournaments, and even single-player quests. The asset is in its final stage of the presale, and after raising over $3 million from its presale, only 3% of coins are left for investors to purchase.

FGHT is another top-rated presale. The digital asset is the crypto token for Fight Out – a Move-to-Earn fitness app that aims to redefine fitness for the Web3 era. With over $3.5 million raised from investors already, the asset is one of the hottest presales at the moment.

Finally, investors can consider MEMAG – the native token for the Meta Masters Guild. The MMG aims to create a universe filled with various gaming titles, all of which will operate autonomously and allow players and developers to contribute to them. The token has raised over $1.54 million and moved to its presale’s third stage.

Buy Altcoins on etoro, but you might want to take a look at MEMAG because it has better risk-reward appeal.

🌎《Now you can collect, own and trade exclusive TNNS digital collectibles!》📈

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Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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