Polygon (MATIC) Price Awaits Rally To $1 After This Latest Update
Inventory and crypto buying and selling app Robinhood has added help for deposits and withdrawals of MATIC tokens on the Polygon blockchain. The Layer-2 blockchain answer will allow customers to take pleasure in sooner transactions and decrease charges than Ethereum. Furthermore, customers can now switch MATIC with out paying bridging charges on the Robinhood platform.
The Polygon help could push the MATIC to rebound to $1 as merchants will profit from the event.
Robinhood Provides Help for MATIC on Polygon Blockchain
Fee-free buying and selling app Robinhood has launched deposits and withdrawals for MATIC on the Polygon blockchain, as per an official announcement on September 1. As well as, customers can switch MATIC tokens by means of the Polygon community with out paying bridging charges on Robinhood.
Hamzah Khan, head of DeFi at Polygon, stated:
“We’re delighted Robinhood has launched on-chain help for MATIC deposits and withdrawals, additional enhancing their spectacular suite of built-in providers, enabling entry to the Coinbase pockets and Metamask.”
Robinhood customers can now use MATIC tokens to carry out numerous duties together with lending, borrowing, offering liquidity, and swapping on the Polygon PoS chain. Greater than 37,000 dApps on Polygon corresponding to AAVE, Uniswap, and Balancer allow customers to discover a number of use circumstances.
Robinhood not too long ago listed Polygon’s MATIC token in mid-April, together with different tokens corresponding to Compound (COMP), Shiba Inu (SHIB), and Solana (SOL). This allowed customers to avoid wasting charges and eradicate lengthy affirmation instances. Ethereum Layer-2 scaling answer Polygon allows decrease fuel charges and better throughput with out compromising safety.
MATIC Worth Exhibits Power
Polygon’s MATIC is displaying power whereas different cryptocurrencies proceed to tug amid rising promoting stress. At present, the MATIC worth is buying and selling at $0.83. The value jumped over 3% within the final 24 hours and 10% in every week from the help at $0.75.
The MATIC worth can retest $1 if it breaks above the resistance stage at $0.85. Nonetheless, merchants could have to attend a bit extra as the worth is buying and selling between the $0.75-$0.83 vary. Robinhood’s help for MATIC on Polygon is bullish for the worth.