Topic: Polygon (MATIC) Gathers Strength As It Rides The Super Bowl NFT Wave (Read 76 times)

NFTs can come back but those NFT projects have to work hard, brainstorm seriously to change their tokenomics.

After a few years of NFT growth with many projects, a most common trait of those projects is their weak tokenomics that is harmful for their token price. They have yet successfully fix their tokenomics weakness to solve their inflation problems that cause huge selling pressure on market.

If they can revamp their tokenomics to be healthier, more fair launch and less inflationary, they can come back.

Could NFTs somehow make a comeback? I had always thought they could use better methods to instill NFTs with intrinsic value. While a baseball card might not have much space to store memory data. NFTs could potentiall store more information digitally. That could be one advantage NFL NFTs have over NFL trading cards and collectibles. There could still be room for innovation and improvement as far as NFTs go.

The Super Bowl Season has always been an exciting event and Polygon rides the wave through the minting of 1 million Super Bowl NFTs.

But first, here’s a quick glance of Polygon (MATIC) performance in the last few days:

• MATIC price is down by 1.43% as of press time
• Polygon NFTs riding the wave of the Super Bowl hype; now 4th largest in terms of NFT volume at $3.37 million
• MATIC price looks bullish for the long term

Polygon knows exactly what to do with the Super Bowl hype and uses that to gather momentum.


The network’s massive NFT adoption is working in its favor as it gathers strength and has the potential to jump above and beyond the resistance spotted at $1.6.

Polygon Flexes Muscles In The NFT Space

Apart from the fact that Polygon is seen to be growing tremendously, especially in the NFT arena, its upcoming mainnet upgrade as well as the zk-EVM has allowed the network to gain more traction.

Ethereum is seen to be leading the pack in both the NFT and DeFi space, but it seems that Polygon is keeping up or even close to outpacing the giant.

Currently, Polygon is considered the 4th largest in sales volume in the NFT space with over $3.37 million, registering an increase of as much as 30.72%.

The number of transactions also jumped by as much as 73% in the past week with Ethereum dropping 4.34%.



MATIC total market cap at $10.6 billion on the daily chart

Image link:  https://i.ibb.co/4YtmdSz/matic-up.png

More so, OpenSea’s daily volume also registered a phenomenal growth as it peaked at $18.7 million. Comparatively, the total of NFTs sold has been low in the past couple of months.

OpenSea’s monthly volume on Polygon has also barreled past $30 million in its first week which is its highest since May of the previous year, a strong indicator that the value of NFTs on the platform has spiked significantly.

MATIC Bulls Seen Dominating In The Long Term

MATIC price is seen to be gathering more strength ever since its price was resuscitated when it dipped below $0.3 in June of last year.

According to CoinMarketCap, MATIC price has nosedived by 2.86% or trading at $1.22 at the time of writing.

Incredibly, MATIC is considered to be one of the top gainers in cryptocurrencies despite the crypto bleeding enormously in the past year.

MATIC price is dubbed to be predominantly bullish in a long-term perspective with a firm support base spotted above $1 which means that even with a huge price drop, this can still encourage a rebound rising from $1.05 and could surge further surpassing $1.6.

Polygon’s NFT trade volume has witnessed a spike in activity as spotted on February 10, but the total volume for that day is still lower when compared to its monthly high.

Overall, MATIC bulls are seen to maintain their winning streak longer than usual.

https://www.newsbtc.com/news/polygon-rides-super-bowl-wave/