{"id":462488,"date":"2021-04-27T23:11:40","date_gmt":"2021-04-27T23:11:40","guid":{"rendered":"https:\/\/wncen.com\/?p=462488"},"modified":"2021-04-27T23:11:40","modified_gmt":"2021-04-27T23:11:40","slug":"polygons-total-value-locked-explodes-matic-could-run-hotter-after-a-120-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/polygons-total-value-locked-explodes-matic-could-run-hotter-after-a-120-rally\/","title":{"rendered":"Polygon\u2019s Total Value Locked Explodes, MATIC Could Run Hotter After A 120% Rally"},"content":{"rendered":"<p>Polygon (<a href=\"https:\/\/wncen.com\/news\/ethereum\/matic-takes-step-towards-solving-high-ethereum-gas-fees-by-integrating-tether\/\">MATIC<\/a>) has seen an explosion on the daily chart with a 40.4% rally trading at $0,74. In the weekly and monthly chart, MATIC\u2019s numbers are equally impressive with a 118% and 114% bull-run. Most of the profits seem to have been recording over the past three months.<\/p>\n<figure id=\"attachment_462493\" aria-describedby=\"caption-attachment-462493\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-462493 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT.png?resize=860%2C424\" alt=\"Polygon MATIC MATICUSDT\" width=\"860\" height=\"424\"><figcaption id=\"caption-attachment-462493\" class=\"wp-caption-text\">MATIC with heavy gains in the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/MATICUSDT\/\" target=\"_blank\" rel=\"nofollow\">MATICUSDT Tradingview<\/a><\/figcaption><\/figure>\n<p>Previously knows as Matic Network, <a href=\"https:\/\/wncen.com\/news\/company\/trace-network-partners-with-polygon-and-infosys-consulting-for-blockchain-revolution\/\">the project was rebranded Polygon at the end of February.<\/a> A second-layer solution for Ethereum. The project seeks to be a version of Polkadot on this blockchain and create an interoperable sidechains ecosystem with high scalability.<\/p>\n<p>In parallel with its price rally, Polygon has seen a major explosion in its total value locked (TVL). <a href=\"https:\/\/defipulse.com\/polygon\" target=\"_blank\" rel=\"nofollow\">Data<\/a> from DeFi Pulse records a $1.12 billion with a 32.6% increase in 24-hours. The protocol has 126.400 ETH locked with 19.600 added in the past day.<\/p>\n<p>As the chart below shows, MATIC went parabolic in TVL by mid-April 2021. Although it had a setback during the subsequent days, the protocol\u2019s TVL has picked up a bullish momentum and keeps aiming for all-time highs.<\/p>\n<figure id=\"attachment_462494\" aria-describedby=\"caption-attachment-462494\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-462494 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT-1.jpg?resize=860%2C449\" alt=\"Polygon MATIC MATICUSDT\" width=\"860\" height=\"449\"><figcaption id=\"caption-attachment-462494\" class=\"wp-caption-text\">Source: DeFi Pulse<\/figcaption><\/figure>\n<p>Additional data from The Block Research <a href=\"https:\/\/twitter.com\/TheBlock__\/status\/65112323\" rel=\"nofollow\">shared<\/a> via their Twitter handle indicates that Polygon\u2019s PoS has seen more increase in value locked than <a href=\"https:\/\/wncen.com\/news\/company\/binance-smart-chain-meets-wise-the-most-secure-staking-on-blockchain\/\">Binance Smart Chain<\/a>, xDAI, <a href=\"https:\/\/wncen.com\/news\/how-avalanches-bridge-to-eth-and-btc-could-take-over-defi\/\">Avalanche<\/a>, NEAR, and others. The report attributes Polygon\u2019s rise to an \u201cincentive program effort\u201d.<\/p>\n<figure id=\"attachment_462495\" aria-describedby=\"caption-attachment-462495\" style=\"width: 680px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-462495 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT-2.jpg?resize=680%2C517\" alt=\"Polygon MATIC MATICUSDT\" width=\"680\" height=\"517\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT-2.jpg?w=680 680w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT-2.jpg?w=460 460w\" sizes=\"(max-width: 680px) 100vw, 680px\"><figcaption id=\"caption-attachment-462495\" class=\"wp-caption-text\">Source: The Block Research<\/figcaption><\/figure>\n<p>Polygon\u2019s team revealed at the beginning of last week a continuation of their \u201cDeFi Summer\u201d. Therefore, users were offered over $5 million in liquidity mining rewards for the Curve Polygon markets.<\/p>\n<p>Polygon\u2019s ecosystem appears to be growing with over 100 DeFi projects building on the solution. Its cooperation with Curve protocol is to \u201cmeet\u201d the demand for \u201cdeep liquidity\u201d stablecoins trading pairs. The team <a href=\"https:\/\/blog.polygon.technology\/continuing-scalability-defi-summer-with-5-million-usd-in-liquidity-mining-rewards-from-polygon-e73a76c5a8ad\" target=\"_blank\" rel=\"nofollow\">said<\/a>:<\/p>\n<blockquote><p>This 5mn$ liquidity rewards program is part of the #DeFiForAll campaign on Polygon! We look forward to growing and expanding the DeFi ecosystem on Polygon along with Ethereum\u2019s top DeFi protocols.<\/p><\/blockquote>\n<h2>MATIC\u2019s Support And Possible Price Targe<\/h2>\n<p>According to data from Cryptoyieldinfo, Polygon\u2019s native token could \u201cdo a <a href=\"https:\/\/wncen.com\/news\/binance-coin\/bnb-soars-above-600-is-an-ethereum-flippening-on-the-cards\/\">BNB<\/a>\u201d, in reference to this other token recent rally. With $1.1 billion in Aave and $100 million in Curve locked in over a week, MATIC could reach a $2 to $8 target if demand for the token continues to rise.<\/p>\n<p>Anonymous trader Hsaka is more conservative when predicting a possible price target for MATIC, but still sees a long of upside potential for the token. The trader <a href=\"https:\/\/twitter.com\/HsakaTrades\/status\/11543297\" rel=\"nofollow\">said<\/a> the following:<\/p>\n<blockquote><p>Sidechain debate is trivial. As of now, $MATIC is the most accessible liquid puntable token that represents the $ETH scaling narrative. With Curve and Aave already rolling out support, that mindshare is only going to increase. $1.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Polygon (MATIC) has seen an explosion on the daily chart with a 40.4% rally trading at $0,74. In the weekly and monthly chart, MATIC\u2019s numbers are equally impressive with a 118% and 114% bull-run. Most of the profits seem to have been recording over the past three months. Previously knows as Matic Network, the project was rebranded Polygon at the end of February. A second-layer solution for Ethereum. The project seeks to be a version of Polkadot on this blockchain and create an interoperable sidechains ecosystem with high scalability. In parallel with its price rally, Polygon has seen a major explosion in its total value locked (TVL). Data from DeFi Pulse records a $1.12 billion with a 32.6% increase in 24-hours. The protocol has 126.400 ETH locked with 19.600 added in the past day. As the chart below shows, MATIC went parabolic in TVL by mid-April 2021. Although it had a setback during the subsequent days, the protocol\u2019s TVL has picked up a bullish momentum and keeps aiming for all-time highs. Additional data from The Block Research shared via their Twitter handle indicates that Polygon\u2019s PoS has seen more increase in value locked than Binance Smart Chain, xDAI, Avalanche, NEAR, and others. The report attributes Polygon\u2019s rise to an \u201cincentive program effort\u201d. Polygon\u2019s team revealed at the beginning of last week a continuation of their \u201cDeFi Summer\u201d. Therefore, users were offered over $5 million in liquidity mining rewards for the Curve Polygon markets. Polygon\u2019s ecosystem appears to be growing with over 100 DeFi projects building on the solution. Its cooperation with Curve protocol is to \u201cmeet\u201d the demand for \u201cdeep liquidity\u201d stablecoins trading pairs. The team said: This 5mn$ liquidity rewards program is part of the #DeFiForAll campaign on Polygon! We look forward to growing and expanding the DeFi ecosystem on Polygon along with Ethereum\u2019s top DeFi protocols. MATIC\u2019s Support And Possible Price Targe According to data from Cryptoyieldinfo, Polygon\u2019s native token could \u201cdo a BNB\u201d, in reference to this other token recent rally. With $1.1 billion in Aave and $100 million in Curve locked in over a week, MATIC could reach a $2 to $8 target if demand for the token continues to rise. Anonymous trader Hsaka is more conservative when predicting a possible price target for MATIC, but still sees a long of upside potential for the token. The trader said the following: Sidechain debate is trivial. As of now, $MATIC is the most accessible liquid puntable token that represents the $ETH scaling narrative. With Curve and Aave already rolling out support, that mindshare is only going to increase. $1.<\/p>\n","protected":false},"author":535,"featured_media":462489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[40670,79614,83584],"class_list":["post-462488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-matic","tag-maticusdt","tag-polygon"],"acf":[],"yoast_head":"\n<title>Polygon\u2019s Total Value Locked Explodes, MATIC Could Run Hotter After A 120% Rally<\/title>\n<meta name=\"description\" content=\"Polygon (MATIC) has seen an explosion on the daily chart with a 40.4% rally trading at $0,74. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/wncen.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Polygon\u2019s Total Value Locked Explodes, MATIC Could Run Hotter After A 120% Rally","description":"Polygon (MATIC) has seen an explosion on the daily chart with a 40.4% rally trading at $0,74. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Polygon\u2019s Total Value Locked Explodes, MATIC Could Run Hotter After A 120% Rally","url":"http:\/\/wncen.com\/news\/polygons-total-value-locked-explodes-matic-could-run-hotter-after-a-120-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/polygons-total-value-locked-explodes-matic-could-run-hotter-after-a-120-rally\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT.jpg?fit=765%2C455"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["matic","maticusdt","polygon"],"dateCreated":"2021-04-27T23:11:40Z","datePublished":"2021-04-27T23:11:40Z","dateModified":"2021-04-27T23:11:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Polygon\\u2019s Total Value Locked Explodes, MATIC Could Run Hotter After A 120% Rally\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/polygons-total-value-locked-explodes-matic-could-run-hotter-after-a-120-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/polygons-total-value-locked-explodes-matic-could-run-hotter-after-a-120-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Polygon-MATIC-MATICUSDT.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Polygon-MATIC-MATICUSDT.jpg?fit=765%2C455\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"matic\",\"maticusdt\",\"polygon\"],\"dateCreated\":\"2021-04-27T23:11:40Z\",\"datePublished\":\"2021-04-27T23:11:40Z\",\"dateModified\":\"2021-04-27T23:11:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Polygon-MATIC-MATICUSDT.jpg?fit=765%2C455","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462488"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=462488"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462489"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=462488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=462488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=462488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}