Polygon (MATIC): Is Robinhood the Awaited Savior?

Polygon was among the best-performing crypto within the past three months. One thing contributing to the impressive performance is Polygon’s dedication to building an identity. The network has gone beyond being only a layer2 scaling solution.

The project has made massive moves that strengthen the asset’s status and potential within the cryptocurrency market. Its recent collaboration could change the narrative. That might see MATIC’s demand flourishing within the coming bull run.

Recently, Polygon declared partnering with Robinhood, a leading retail investing app. The official statement stated that Robinhood would utilize the Polygon blockchain to allow MATIC withdrawals and deposits. Polygon posted about the thrill of working with the leading crypto & stock investing application in the United States.

Opening Flood Gates

The deal will make Polygon’s MATIC available to multiple investors that utilize the Robinhood trading application. That could initiate a liquidity wave into MATIC’s ecosystem. That would lead to impressive leg-ups whenever the market sees the next bullish period.

The development could also propel Polygon’s ecosystem growth. This metric remains deteriorated by a substantial margin within the past four weeks. Moreover, Polygon recorded a transaction volume surge within the previous 24 hours.

The timeframe saw over 18M MATIC transacted. Its transactions and growth volumes will likely benefit from the Robinhood partnership. That’s because the collaboration will also ensure organic utility and demand as the Polygon blockchain will underpin all MATIC transactions on the trading app Robinhood.

Moreover, Robinhood will likely clear the road for massive MATIC addresses growth. MATIC saw its total addresses growing steadily in August, peaking at 1.45M wallets. The new address pace slows during August’s second half.

The new development would potentially increase the new address pace to support further wallet growth in the future. That would see MATIC’s price flourishing in the long term. While publishing this blog, the alternative token changed hands near $0.84, gaining a 1.45% surge.

Also, Bitcoin noted a brief uptick within the past day, gaining 1.28% to change hands near $20,268.18. However, the marketplace remains downbeat, with further declines on the horizon. However, time will reveal everything.

Editorial credit: Dennis Diatel / shutterstock.com