Polygon’s expanding ecosystem backs MATIC’s rise toward a new all-time high By Cointelegraph

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Layer-two (L2) options for the community have turn out to be a standard matter of debate and hypothesis on their related tokens backed the huge rally seen in most of the protocols this 12 months. The parabolic development of the decentralized finance (DeFi) and nonfungible token (NFT) sectors additionally led to a surge in the price of finishing up easy transfers and this prompted builders and traders emigrate to L2-supportive platforms.

One L2 answer that noticed its token worth rise to new highs earlier within the 12 months and now appears poised to make one other breakout greater is Polygon (MATIC), a proof-of-stake blockchain protocol that aggregates scalable options on Ethereum to assist a multi-chain ecosystem.

MATIC/USDT 1-day chart. Source: TradingView
Polygon addresses with a steadiness vs. MATIC worth. Source: Intotheblock
Polygon worth vs. complete income. Source: Token Terminal
VORTECS™ Score (inexperienced) vs. MATIC worth. Source: Cointelegraph Markets Pro