Saturday, February 24, 2024

Polygon MATIC rallies over 170% amid bearish crypto winter.

Polygon MATIC amid the slump in the global crypto market has rallied 170%. It raised USD 450 million earlier this year in an effort to aggressively expand its portfolio of Ethereum scaling solutions. The network has been working to attract traditional brands and the larger blockchain developer ecosystem.

Sequoia Capital India led the financing round which also included some big names like Soft Bank, Tiger Global and Animoca Brands, and others. Polygon has utilized the funds. Over the past few months household names and top-tier brands like Coca-Cola, Starbucks and Reddit have launched the NFTs on the Polygon network.

Polygon has also been targeting the gaming industry. Several young and upcoming gaming companies such as JEDSTAR Gaming launched their Dynamic NFTs or Semi-Fungible Tokens (SFTs) on the Polygon network. But with the crypto industry still in the midst of a bear market, most cryptocurrency projects including Polygon and JEDSTAR Gaming are still down from their all-time highs. However, the resilient consistent delivery of these projects shows that the crypto winter may be thawing.

In fact, things are looking positive – for example, JEDSTAR Gaming which recently launched its charge-to-earn app for gamers; SILVERVOLT a P2E game is set to launch the much-anticipated staking platform that rewards JED holders with regular passive income.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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