Polygon (MATIC) Gains 25% Following Massive Whale Accumulation – Time to Buy?

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Briefly –

  • Polygon launched a zero-knowledge technology-powered Polygon ID.
  • MATIC reacted by surging 25% within the past 24 hours,
  • Maintaining the current bullish run might see the token surging further.

Polygon (MATIC/USD) is an ETH scaling solution designed to allow developers to create various apps on it. It uses the Polygon SDK to offer a modular that supports multiple decentralized applications.

Moreover, developers can use the Polygon platform to enjoy technologies like stand-alone chains, ZK rollups, and rollup chains. The ecosystem uses MATIC as native crypto for security and governance purposes.

Polygon ID Integration Catalyzing Growth

MATIC saw its utility & value surging following the Spritz Finance bills launch on 15 June 2022. The updates allow users to pay bills using crypto. It made another announcement on 22 June 2022, introducing the Polygon ID integration. It is a private and identity solution using zero-knowledge cryptography.

Polygon ID will introduce multiple functionalities inaccessible to DAOs (decentralized autonomous organizations). This technology allows users to control identity information disclosure. Besides that, Polygon ID facilitates the potential for high-end privacy plus verifiable reputation building.

The solution combined the Circom ZK toolkit and the Iden3 protocol. That creates an impressive ZK technology application than can operate on a mobile device. The Polygon ID might mean increased value and utility for the MATIC crypto.

Should You Purchase MATIC

While publishing this content, MATIC traded at #0.5123, surging 25% within the past day. You probably want to invest in a token with a brighter future. We will evaluate the token’s journey to the ATH and performance over the previous month to understand how high MATIC can go.

Polygon touched its record high on 27 December, exploring the $2.92 mark. Meanwhile, the past month’s outlook shows the asset touched its peak of $1.1832 on 5 May. Moreover, the monthly low was $0.5406, touched on 12 May. That reflects a 54% decline.

Meanwhile, the latest increase has MATIC exhibiting a bullish outlook. Maintaining the prevailing bullish run will see the token surging towards $0.8 before June 2022 ends. Nevertheless, declines beneath $0.4 will be detrimental for the alternative token.

Editorial credit: Dennis Diatel / shutterstock.com

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