MATIC Rides High, Becomes 13th Most Valuable Cryptocurrency

• MATIC flipped LINK’s market price as its price gained over 8% within 24 hours.
• The token’s strong correlation with ETH also impacted the price increase. 
• A break above $0.91 could lead MATIC to another 10% increase.

The price of Polygon (MATIC) surged by 8.10% in the last 24 hours, as many altcoins rallied to new yearly highs. At press time, MATIC’s price was $0.90, according to data from CoinMarketCap. 

But before reversing to the said value, MATIC’s price hit $0.93 on January 11. As a result of the increase, the Polygon market cap flipped Chainlink (LINK) to become the 13th most valuable project in the market at the time of press. 

However, LINK’s price also increased within the same timeframe, however, MATIC’s run was harder. At the time of writing, Chainlink’s market cap was $8.37 billion while Polygon’s market cap was $8.55 billion.

MATIC Shines, Follows ETH

The rise of MATIC could be linked to several factors. But the most important of them was the rising interest in the Polygon Proof-of-Stake (PoS) ecosystem. 

For instance, on January 9, crypto analyst Lark Davis…

The post MATIC Rides High, Becomes 13th Most Valuable Cryptocurrency appeared first on Coin Edition.