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The rise in the price of Polygon Matic

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polygon_matic_analysis

Amid the ongoing market slump where the majority of Cryptocurrencies are dropping their value and wiping out a significant portion of investors’ wealth, the significant rise in the price of Polygon Matic has come as a relief for investors.

Price rise in Polygon Matic

Over the past few days, Polygon Matic has seen a price increase of nearly 30%. If we look at the data the price of Polygon has increased 26% in the past two days.

However, this price rise is still lagging behind the all-time price high achieved by Polygon Matic on December 27, 2021. It’s around 83% below the all-time high of $ 2.92 achieved last year.

Reasons behind the price rise of Polygon Matic

The company recently achieved a significant milestone since its inception ie. “Carbon neutrality.” Achieving carbon neutrality means that an organization has struck a balance between emission and absorption of carbon. Polygon shared this recent achievement through an official Blogspot wherein they declared that they have officially decommissioned $400,000 in carbon credits. These carbon credits comprise nearly 104,794 tonnes of greenhouse gases. These carbon credits comprise the total carbon debt of the organization since its conception. The next milestone to be achieved by the organization is becoming net positive towards the environment.

Another reason behind this significant rise is attributed to the fact that the coin has seen substantial whale accommodation over the past six weeks.

These developments come as a relief in the ongoing market volatility seen in the Cryptocurrency market.

Disclaimer: The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. It is only intended to provide education about the financial industry. Please do your own research.


Author - Govind R.