Polygon price has been surging since yesterday. The price of Polygon (MATIC) has jumped from about $0.53 to its current price above $0.62.
The surge has seen Polygon reclaim the highs above $0.62 that it had set towards the end of June.
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But what is making the price of MATIC rise and will it sustain the bullish trend? Invezz has delved into the behind-the-scenes to reveal what is behind the current Polygon price surge.
Why Polygon price is rising
The most recent news about Polygon that has had a great impact on the price of the MATIC token is the announcement of Walt Disney Company including Polygon blockchain in the accelerator program for 2022.
The 2022 Disney Accelerator is a business development program that seeks to accelerate the growth of innovative companies worldwide. This year’s program focuses on building the future of technologies such as non-fungible tokens (NFTs), augmented reality (AR), and artificial intelligence (AI).
The other companies that were selected alongside Polygon include Flickplay, Inworld, Lockerverse, Obsess, Polygon, and Red 6.
The participants will get recommendations from the senior management of Walt Disney and from an exceptional mentor.
The other thing that could be causing the Polygon price to rise is the partnership announcement between FireDrops and Polygon where FireDrops has promised to conduct its drop on Polygon.
It is also worth noting that top Ethereum whales have also been accumulating MATIC tokens. According to WhaleStats Polygon has flipped BAT token among the most traded tokens among 1000 largest whales.
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Source: https://invezz.com/news/2022/07/14/heres-what-is-making-polygon-price-surge-matic-price-is-up-15-today/