Members of the crypto community have cast their ballots, so to speak, and now we’ll find out whether or not their forecast was accurate.
The consensus of the cryptocurrency market predicts a 20% increase in MATIC prices before the month ends, as reported by CoinMarketCap’s price prediction metrics.
The community’s optimistic outlook suggests that they have high faith in the token as well as the ecosystem.
Good news has recently hit the Polygon community thanks to a tweet from the official Polygon Twitter account announcing a new collaboration with the trading platform Robinhood.
Robinhood Collaboration Will Produce Good Results
This tweet indicates that Robinhood and Polygon have teamed up to provide a Bitcoin wallet service. The Robinhood Wallet app was designed with DeFi in Mind.
According to Polygon’s blog post, the Robinhood Wallet is a self-custody wallet, meaning that its owner has complete discretion over their cryptocurrency holdings.
Robinhood has made other forays into the cryptocurrency market, so this isn’t their first venture.
Since its creation in 2018, the company has actively participated in crypto-related activities. Bitcoin and Ethereum were the first currencies to be traded freely on the platform. Only a few states saw the change.
The trade in crypto assets had expanded to all 50 states by 2021.
The trading platform supports 11 cryptocurrencies, including Bitcoin and Ethereum. It also facilitates the trading of alternative cryptocurrencies, similar to Polygon’s MATIC token.
With over 37,000 decentralized applications available on Polygon’s platform, it will undoubtedly aid Robinhood’s most ambitious cryptocurrency endeavor. How did traders and investors react to this news from Polygon?
Crypto Rally in the Offing
MATIC currently trades at $0.05$0.778741, lower 0.1% in the past seven days according to data from Coingecko, Saturday
At the moment, token trading is between the 50 Fib level (0.6876) and 61.80 Fb level (0.7761).
It is important to note that the current support line at $0.7252 can be relied upon by bulls if the situation turns bad.
A slight correction can be expected if the price rises above the 61.80 Fib mark if sufficient buyers are available.
Polygon is confident that investors will be happy with the Robinhood partnership it has established. This comes despite the fact that the community projects a price rise of nearly 20%.
MATIC Total market Cap at $6.8B on Daily Chart | Source: TradingView.com Featured Image from TradingView.com, Chart: VOI
