Polygon (MATIC) doing exceptionally well even in this bear market, is there any possibility it could hit $1 in short term?
Global stocks and the crypto market have been seeing many ups and downs since December 2021. After May 2022, it's been proven to be a bear market because of global conflicts, inflation, unemployment and many other factors as well. Still, some of the crypto projects seem to be doing well even in this bear market situation. One of them is MATIC (Polygon), In June 2022, Matic fall to as low as $0.3372 but then after it's doing pretty well and managed to get a support level above $0.80. As of now, at the time of writing this article, it is trading at $0.84 with a market cap of $7.325B.
Matic (Polygon) is one of those cryptos that have managed the extensive selling pressure from bears and have shown more buying activity which shows the investors are having bullish sentiment for polygon and hence, it is doing well as compared to the previous months. Moreover, there have been other factors as well like its being accepted as a part of Disney's Accelerator Program 2022 to make more development in the field of NFTs, Metaverse, AI, Augmented Reality etc.
Experts believe that as soon as the market sentiment changes and bulls come into play, Matic could reach a new high. For the time being, it will be interesting to see whether Matic (Polygon) will be able to perform well in the upcoming months.
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