What Fueled Polygon’s (MATIC) 10% Price Increase?

  • Polygon (MATIC) and Immutable (IMX) experienced a surge in prices, with Polygon rising by 10% to $0.97, and Immutable gaining 8% to $1.23.
  • Dominance in Blockchain Gaming: A report by Game7 DAO identified Polygon and Immutable as leaders in the growing blockchain gaming sector.
  • Popular Gaming-Focused Platform: Immutable emerged as the most popular gaming-focused platform

The prices of Layer-2 protocols Polygon (MATIC) and Immutable (IMX) have surged after a report found the two led the growing blockchain gaming sector. This expanded dominance has boosted the investment appeal of both cryptocurrencies.

Polygon spiked as much as 10% on Wednesday to $0.97, while Immutable likewise gained 8% to $1.23. The rally comes on the heels of research from Game7 DAO that labeled Polygon and Immutable as top players in Web3 gaming.

Though most play-to-earn titles are built on Layer-1 chains like Ethereum, Polygon has broken the mold by hosting the most new blockchain games. It now beats out rivals Binance Smart Chain and Ethereum in game development.

Additionally, the report found Immutable has become the most popular gaming-focused platform, surpassing competitors like Arbitrum. The research highlighted the momentum of these two protocols in the red-hot gaming space.

Polygon has a significant edge in adoption

With increased competition among Layer-2 solutions, Polygon’s gaming lead provides a significant edge for adoption and demand growth. If it continues dominating blockchain-based game development, bullish speculation on the MATIC token could rise.

Polygon also has its upcoming upgrade to POL on the horizon, an event that should further reinvigorate price performance. Meanwhile, integration between Polygon and Immutable will likely expand based on their complementary gaming strengths.

Immutable co-founder Robbie Ferguson has emphasized Polygon’s central role in blockchain mass adoption, making collaboration a natural fit. As gaming bridges crypto to mainstream audiences, the success of Polygon and Immutable proves instrumental for the broader industry’s future.

Their outperformance comes amid increased institutional investment, signaling the growing legitimacy of crypto and Web3. Polygon and Immutable’s rally reflects their strengthened position to capitalize on surging interest in blockchain’s evolution.

Source: https://thenewscrypto.com/what-fueled-polygons-matic-10-price-increase/