Polygon Price Skyrockets By 20%; Will MATIC Reach $1?

The global crypto market soared by around 5% over the past day to regain the vital $1 trillion cap. With this surge, Polygon (MATIC) prices have also jumped by 20% in the last 24 hours.

MATIC price up by 150% in last 30 days

MATIC prices have surged by around 65% over the past 7 days to recover from the recent collapse. According to Santiment, with the recent price jump, MATIC’s address activity is on a surge. However, it also mentioned that the chart depicts a sort of divergence.

Amount of active addresses on the network dropped to 4862 when the price surged to touch the $0.89 price level. As per the data, the active address amount stood at 10,500 on June 10, 2022, when MATIC was trading at $0.33. This has been a significant recorded drop in active holders.

Polygon is trading at an average price of $0.909, at press time. MATIC prices have soared by around 150% in the past 30 days. Meanwhile, it is still trading lower by 68% from its all time high. However, a massive jump of 71% can be seen in its 24 hour trading volume. It now stands at $1.6 billion.

Polygon among top choices of BSC whales

Meanwhile, Polygon managed to get into the tally of top 10 tokens purchases by 100 biggest BSC whales over the last 24 hours. The largest wallets are holding more than $28.4 million worth of MATIC tokens.

Earlier, Into the Block highlighted that Polygon’s price managed to break the heavy resistance at $0.68. It now reports that this surge could break the $1 where around 50K addresses may try to break even.

However, the current price surge is backed by Polygon’s anticipated announcement. Mihailo Bjelic mentioned that they made a promise to stay committed and give back to ETH and in the next 3 days Polygon will deliver on that.

It also announced that Web3Auth has integrated with the Polygon Blockchain. It added that this will onboard the next billion users on the network with non custodial wallets.