"The best is MATIC, will the price drop to $1.10 after this?"
After falling 8.5% the day before, the price of the cryptocurrency Polygon (MATIC) finally crossed $1.06 on Feb 22, 2024 as the social media platform Reddit tested blockchain technology through the purchase of Ethereum (ETH) and MATIC for the sale of certain virtual goods.
Reddit appears to want to continue using the crypto as a payment option in the future, so digital asset market players are ready to work with ETH layer-2 solutions like MATIC to explore new opportunities.
While not disclosing specific types or quantities, Reddit, which says its product and engineering team owns crypto for a specific purpose, has acknowledged the huge potential it sees in blockchain technology.
Despite this, Reddit expressed its uncertainty regarding business continuity and user adoption in the domain plus it is still uncertain whether crypto or blockchain will continue to be adopted by users and businesses in the long term.
On Thursday yesterday, MATIC price saw strong selling pressure after MATIC announced its last token unlock but it appears to be a momentary reaction as the digital asset quickly recovered its decline.
The complete circulation of the MATIC supply presents the prospect of an increase in its price especially in the long term and with the entire supply now in circulation, the digital asset also has the opportunity to profit without worrying about additional tokens entering the market.
At the time of writing, MATIC price climbed 2.91% to $0.98 in the last 24 hours with a market capitalization of $9 billion and recorded a 5.70% increase over the last week.
