Polygon (MATIC) Price Rebounds Following Recent Developments

• Polygon is up 4.00% in the last 24 hours.
• It is estimated that at least 134,078 ETH wallets contain more than 100 MATIC tokens.

Polygon (MATIC) has fallen by more than 60% from its all-time high of $2.92 set on December 27th, 2021. In the midst of a bigger crypto market slump in 2022, Polygon’s exceedingly pessimistic prediction surfaced. However, MATIC has rebounded after recent events and is now trading at $0.6255.

Recent Developments Act as Primary Driver

A new version of Polygon’s NFT Minter allows anybody to manufacture NFTs with their own bespoke utilities and for no additional gas cost. Single-mining API support, batch support, and Unity SDK integration will be unveiled over the following two weeks by Polygon’s team. An ERC-721 or ERC-1155 standard, Soulbound and ordinary NFTs were included in the new NFT Minter’s features.

The number of people with ETH wallets who have invested in MATIC has significantly increased. According to Dune Analytics ‘ figures, it is estimated that at least 134,078 ETH wallets contain more than 100 MATIC tokens, and at least 35,309 ETH wallets contain more than 1000 MATIC tokens. As of June 1st, the total number of wallets had likewise reached a record high. Compared to its May 1st status report, the recorded statistics showed a dramatic increase.

As more people began using NFTs and gaming, Polygon’s user base grew. Trading on the Polygon OpenSea NFT platform grew by 45.5x in 2021. There was a lack of interest in 2022, though. In addition, Polygon Proof of Stake (PoS), the most popular Ethereum “commit-chain,” witnessed a rise in popularity. Polygon PoS Chain has a higher total number of unique addresses than before. According to CMC, the Polygon price today is $0.625828 USD with a 24-hour trading volume of $427,675,236 USD. Polygon is up 4.00% in the last 24 hours.