NewsletterPolygon (MATIC) Registers the Strongest Bounce back with 20% Gains, New ATH Coming?
The broader cryptocurrency market has recovered from the weekend carnage extended through Monday. However, one cryptocurrency which shows that fastest and most promising recovery is Polygon’s MATIC.
The MATIC cryptocurrency has gained more than 20% and is currently trading at a price of $2.31 with a market cap of $16.2 billion. Along with Terra’s LUNA, Polygon’s MATIC has been one of the top performers even during the recent market rout.
Currently, the MATIC price is pretty close to its all-time high of $2.45 and we can possibly see it coming anytime soon. The recent rally in the MATIC price comes on the backdrop of some positive developments taking place on the Ethereum Layer 2 protocol.
Polygon Likely to Raise $150 from VCs
As per the latest report from Tech Crunch, a group of venture capital investors is looking to back Polygon with funding anywhere between $50-$150 million. Some of the biggest names in the space like Sequoia Capital India and Steadview Capital are looking to make investments in Polygon through its MATIC tokens.
Polygon, the Layer-2 Ethereum scaling solution, has gained major traction amid the exploding Defi activity on the Ethereum blockchain and the rising gas fee. Polygon helps to address most of the scalability issues faced by Ethereum by charging very low transaction fees.
Due to its recent performance, major funds and VC groups have shown interest in investing in Polygon recently.
Polygon Focusing on ZK Cryptography
Although Polygon has gained much of the market traction, it is pushing further the boundaries of scalability on the Ethereum blockchain. Currently, Polygon is focusing majorly upon ZK cryptography as the most promising solution to scale on the Ethereum blockchain.
The team is conducting the “Polygon zk day” ahead this week on December 9. Some of the popular personalities like Ethereum’s Vitalik Buterin shall be joining to discuss the current state and future of zk-STARKs and applications of Zero-Knowledge proofs. This could be another reason fueling the price of MATIC in recent times.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Traders Increase Bets on Kevin Warsh After Trump Names Top Two Fed Chair Candidates
- This Top CNBC Trader Says He’ll “Never” Invest in XRP Despite Wall Street Adoption
- ‘Dead Like Kodak’: Software Engineer Slams SWIFT’s 5-Year Delay on Blockchain Plans
- Ripple Attracts $300M Institutional Bet as VivoPower Launches Korean Investment Vehicle
- Crypto Eyes Entry into Traditional Sports as Tether Bids $1B for Juventus FC
- Expert Predicts Bitcoin Price Crash to $75k as ETF Inflows Fall, Treasury Companies Plunge 83%
- HYPE Price Jumps 8% as Open Interest Hits $1.61B — Is $50 Next?
- Is Solana Price Poised for a +50% Bullish Rally? Here’s What to Expect
- Top 3 Price Predictions for Bitcoin, Ethereum, and XRP in DEC 2025
- Will Chainlink Price Break Toward $20 After 84K LINK Reserve Increase?
- XRP Price Target $3 as Spot ETFs Continue to See Inflows
