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Bullish Surge for MATIC as Polygon Reigns in GameFi Sector

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Polygon, MATIC

  • Polygon (MATIC) has established itself as the leader in the emerging sector of GameFi.
  • In March, Polygon witnessed an impressive 53% monthly surge in daily active wallet users within the gaming sector.
  • In the last 24 hours, MATIC has shown bullish price movement, with a 2.34% increase.

In a significant development for the blockchain gaming and decentralized finance (DeFi) sectors, Polygon (MATIC) has emerged as the undisputed leader in GameFi, boasting the highest number of active wallets across all Layer-1 solutions over the past 90 days.

.@0xPolygon has the most active GameFi wallets out of all Layer-1s over the past 90 days. pic.twitter.com/yqJI1AQSX1

— Delphi Digital (@Delphi_Digital) May 14, 2023

Polygon has secured a remarkable 35% share of the 3.5 million active GameFi wallets, surpassing all other Layer-1 blockchains. This exceptional feat highlights the platform’s scalability, low fees, and high-speed transactions, contributing to an optimal gaming experience for users.

Despite Polygon’s emergence as the undisputed leader in GameFi with the highest number of active wallets across all Layer-1 solutions, recent reports indicate that the native token of Polygon, MATIC, has experienced a steady decline in its price.

In a surprising turn of events, Solana has reportedly surpassed MATIC regarding market capitalization, as reported by TheNewsCrypto.

This achievement follows Polygon’s impressive performance earlier in March, where the platform reported a remarkable 53% monthly surge in daily active wallet users within the gaming sector. According to reports by DappRadar, this surge allowed Polygon to overtake Hive, positioning itself as the second most popular gaming chain after Wax.

Polygon 24- Price Movement in the Last 24 Hours

In the last 24 hours, MATIC has been trading in a bullish sentiment where the price has skyrocketed by 2.34% and is currently traded at $0.8738. However, this recent price represents a 6.33% decrease in the past 7 days.

The bulls have set a support level at $0.8495 and a resistance level at $0.8765 for Polygon. The trading volume for Polygon currently stands at $335,543,353, with a market capitalization of $8,086,437,468. The circulating supply of MATIC is currently 9.2 billion MATIC.

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