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New explosive partnership for Polygon (MATIC)! Potential to reach 200% of current price

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 Polygon (MATIC) needs no introduction. This crypto-currency which is an alternative to blockchains like Ethereum has been able to develop and become more and more popular over the years, but especially in recent months.

New explosive partnership for Polygon (MATIC)! Potential to reach 200% of current price

In addition to its high-performance solutions for its own blockchain, Polygon is attracting more and more projects, but also partners. Thus, after Starbucks, Robinhood or even Disney, here is a juggernaut from the professional world added to the list with Meta, the parent company of Facebook and Instagram.

Polygon attracts quality partnerships

Polygon has always known how to surround itself with quality partners and since the beginning of the year this crypto-currency has won the favor of major companies, not only improving its visibility with the general public, but also increasing trust. investors around the project.

One of the last notable partnerships in recent months was Polygon, which joined Disney's accelerator. It is a program highlighting startups and companies that focus on new technologies.

New explosive partnership for Polygon (MATIC)! Potential to reach 200% of current price

In addition to the financial and even technical assistance that Disney can bring to Polygon, it is above all an excellent publicity stunt for MATIC in order to introduce it to the general public, but also to more companies like Meta.

Thus, the parent company of Facebook has chosen Polygon as a partner for its NFT tools that will allow users to mint, show and sell their assets through and outside the social network. An incredible announcement for Polygon which is likely to have a strong impact on its price and the development of this blockchain in the future.

Early days with JPMorgan

Beyond the upcoming partnership with Meta, JPMorgan used Polygon for the first time to complete a real-time trade worth $71,000 on a public blockchain. This shows one of the first prominent examples of the use of crypto-currencies in the traditional world of finance.

As a result of these announcements, the price of MATIC has surged by 10.28% in the last 24 hours with a consequent increase in trading volumes of 223.11% increasing the market cap of this crypto by around 10%. As a reminder, MATIC is a utility token based on the Polygon blockchain and its current price is $0.9574.

MATIC Price Analysis

The rise of MATIC in recent days not only translates into these important announcements for the Polygon blockchain, but also into a general rise in the cryptocurrency market. Over the past few months, the price of MATIC has jumped over 200%. This is a trend that should be confirmed and even increase in the months to come potentially.

Indeed, the first clue showing a continuation of the rise of MATIC comes from a classic technical configuration. So, from the MATIC daily chart from CoinMarketCap, there is a bowl or “U” shaped pattern with a downward channel.

The token is now aiming for a decisive break of the pattern's neckline to achieve its upside target of 2.89 which was its ATH having taken place last year during the incredible bull run of 2021.

So, according to its data and the results of technical analysis in general in the face of such a configuration MATIC could experience a 200% increase in its value for by the end of the first quarter of 2023. Logically, the demand for MATIC will grow greatly following new blockchain projects and partnerships and FOMO (Fear Of Missing Out) investors not wanting to miss such an opportunity.

Matic takes on NFTs

NFTs are taking a bigger and bigger stake at Polygon and should help drive the price up even more, besides partnerships like the one with Meta. There is also Robinhood, Disney or Starbucks which are part of the NFT partners.

As a bonus, Polygon had an excellent third half of 2022 with a record reached among the number of active wallets on its blockchain for a total of 6 million. This number can be explained in particular with the launch of the Reddit marketplace on the Polygon blockchain.

Despite everything, the cryptocurrency market is still in a bearish state which could impact Polygon's growth. We must therefore remain vigilant, because even though technical analysis predicts a sharp rise, we must not forget the major external factors which can have temporary or even lasting consequences on the growth of the price of a crypto.

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