Crypto Community Predicts Polygon (MATIC) To Rise Nearly 20% By October 31


Members of the crypto community have cast their votes, so to speak, and now we’ll find out if their predictions are accurate.

The consensus in the cryptocurrency market expects a 20% increase in MATIC prices before the end of the month, according to CoinMarketCap’s price forecast metrics.

These somewhat optimistic expectations from the community indicate a high level of trust in both the token and the ecosystem.

The good news has recently reached the Polygon community thanks to a tweet from the official Polygon Twitter account announcing a new collaboration with trading platform Robinhood.

Will Robinhood do well?

The tweet indicates that Robinhood has teamed up with Polygon to offer a Bitcoin wallet service. Robinhood Wallet app was designed with DeFi in mind.

According to the Polygon blog, Robinhood Wallet is a self-custodial wallet, which means that its owner has complete discretion over cryptocurrency holdings.

Robinhood has made other forays into the cryptocurrency market, so this isn’t their first project.

Since its inception in 2018, it has been actively involved in the crypto industry, with Bitcoin and Ethereum being the first currencies to be freely traded on the platform at no cost to traders. The change began in a select number of states.

By 2021, crypto-asset trading has expanded across the United States, with the exception of Hawaii and Nevada.

The trading platform supports 11 cryptocurrencies, including Bitcoin and Ethereum. It also facilitates trading alternative cryptocurrencies, similar to Polygon’s MATIC token.

With more than 37,000 DApps available on the Polygon platform, it will undoubtedly help Robinhood’s most ambitious efforts in the crypto space. But how did Polygon’s investors and traders respond to the news?

Gathering in the offering of cryptocurrency?

As of this writing, MATIC is trading in $$0.778741, down 0.1 percent in the past seven days, data from Coingecko shows, Saturday.

Currently, the coin is trading between the 50 Fibonacci level ($0.6876) and the Fibonacci 61.80 level ($0.7761).

The current support line is located at $0.7252, which is essential as this will be the support line that the bulls can rely on if all goes south.

If the price reaches the Fibonacci level of 61.80 again, we can expect a slight correction if there is enough buying demand.

Investor confidence is high as Polygon moves forward with its Robinhood relationship, given the community’s expectation of a roughly 20% increase in prices.

MATIC total market cap at $6.8 billion on the daily chart | Source: TradingView.com

Featured image from VOI, Chart: TradingView.com



Leave a Comment

Your email address will not be published. Required fields are marked *