Token and polygon Buck Crypto downward trend

Token and polygon Buck Crypto downward trend

The FTX disaster has led to the market of fear of uncertainty and doubt (FUD), and great cryptocurrencies in connection with Sam Bankman-Fried have suffered from, but polygon (Matic) and gold-covered tokens have surpassed.

The price of the Matic token of Polygon has increased by 6 % last week. In comparison, the competitor Solana saw the price of his Tokens Sol by 46 %.

In addition to stable coins, dealers who are looking for a safe port have turned to Pax Gold (Paxg), which is published by Paxos, which has seen one 8.2 % Price increase.

Chris Kline, CEO and co -founder of Bitcoin Ira told Blockworks that Matic was more hyperfocussed and specialized than other cryptocurrencies, which may have made it possible for him to protect himself during market fluctuations.

"The MATIC token of polygon is used to pay transaction fees and take part in the network," said Kline. “Although Matic, like all other cryptocurrencies, is over 60 % below his all -time highs of 2021.

The price of Matic has probably exceeded, thanks to the announcement of the Polygon partnership with Instagram last Thursday, which developers can create their own digital collectors and sell them on the platform.

While the drama unfolds with FTX and other crypto communities, polygon developers have actively worked on the development of products to integrate blockchain technology with Web2.

In fact, Polygon announced yesterday that it was working with Disney to develop a proof of concept for exclusive digital collector's pieces.

The development of the space of the creator economy could have been the reason why the polygon token kept itself during the collapse of cryptocurrency.

"The added value for the creator economy is unsurpassed, and the occurrence of verifiable digital property on a platform with such a range will help us to achieve our goal of integrating the next billion users in web3," says Sandeep Nailwal, co -founder of Polygon said in a tweet.

This assessment is shared by Harsh Rajat, CEO of Push Protocol, the block works said: "The reason why the price of Matic tends upwards and will probably continue to do so is that the number of wallet addresses continues to do so."

"The number of clear wallet addresses is the simplest indicator of the health and growth of a network, and it clearly thrives on polygon, since more addresses are added every day."

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The Post-Gold-Linked tokens and Polygon Buck Crypto Downrend is not a financial advice.