MATIC has increased by up to 6% today, and the crypto landscape has been upbeat all week.
- MATIC is looking up, with a 6% increase.
- Following the introduction of Robinhood’s support for Polygon transactions, Polygon performance has improved.
- Following the introduction of the Robinhood cooperation, almost 18 million MATIC transactions were completed.
Polygon (MATIC) has been deemed the best performer when compared to the top 20 cryptos in terms of market value over the last three months.
In fact, MATIC was able to increase its value by 6% in just 24 hours, outperforming the rest of its cryptocurrency peers.
The entire crypto market is on the verge of recovering from its recent drop, but it could end the week on a high note. MATIC’s entire market cap is now $990 billion, reflecting a 1% rise today.
MATIC’s Performance Has Improved Since the Robinhood Deal
Furthermore, Bitcoin has managed to stay above the $20k threshold, with a 1% increase noted overnight. Ether is currently aiming for the critical resistance zone of $1,600 after increasing its value by 3% today.
MATIC’s performance has improved since the announcement of its relationship with Robinhood, a well-known stock and cryptocurrency investing platform, for Polygon withdrawals and deposits on the PoS network.
Surprisingly, around 18 million MATIC transactions were completed following the announcement.
This collaboration is expected to help consolidate all of the benefits of Ethereum’s L2 solutions for early Robinhood users, including as low gas fees and fast transactions.
Furthermore, this relationship with Robinhood is expected to accelerate Polygon’s network growth, increase liquidity, and make MATIC available to Robinhood app users worldwide.
Polygon Shows Outstanding Signals
On the 4-hour chart, the MATIC/USD pair appears to be hopeful and performing well in the previous 24 hours. Furthermore, the technical signs indicate that the coin has significantly improved and rebounded after its drop earlier this week.
Furthermore, the MACD line is above the neutral level, indicating a bull run. The RSI for the last two weeks has been 65, indicating that MATIC may be entering the overbought zone while maintaining its favorable view.
If the bulls continue to rule the market, MATIC may be able to break over its important resistance level of $0.9489. Regardless, despite its bullish rise, MATIC may struggle to break over its August ATH of $1.057.