Polygon Matic price closed yesterday’s trading session with an almost 2 percent gain, extending the previous four bullish trending sessions. However, in the early hours of today’s trading session, the crypto has shown signs of a bearish trend and is currently down by less than a percentage point.
However, in the lower timeframes, the past few hours have been bullish, indicating a high likelihood that we might see it recovering within the session and extending yesterday’s bullish trend. My bullish trend expectations in today’s trading session are also informed by the recent Polygon and Uniswap partnership, which is likely to impact the platform’s growth positively for the next few trading sessions.
Polygon (MATIC) and Uniswap (UNI) Partnership
Polygon, a blockchain scalability solution for Ethereum, has recently announced a partnership with the decentralized exchange, Uniswap. This collaboration is expected to bring new opportunities for growth for both platforms in the crypto market in 2023.
The partnership between Polygon and Uniswap is poised to help address one of the biggest issues in the decentralized finance (DeFi) industry: high transaction fees. Through this partnership, Polygon’s low fees have contributed to more services on Uniswap and even attracted more traders to the DeFi platform.
As a result, Polygon has experienced a significant increase in its total value locked (TVL), while Uniswap is able to capitalize on the crypto market’s growing interest in decentralized exchanges.
This partnership serves as a perfect example of how two different blockchain platforms can work together to bring a more efficient, secure, and accessible DeFi experience to users. The combination of Polygon’s network efficiency and Uniswap’s liquidity leadership could very well lead to a more attractive DeFi that may attract more people to the movement of decentralizing finance.
Polygon Matic Price Forecast
As seen from the above positive fundamentals, we are likely to continue seeing Polygon Matic’s growth for the next few trading sessions. With today’s price also looking highly likely to recover and extend the bullish trend, I expect the in next few trading sessions to see Polygon Matic finally trading above the $1 price level.
In the long term, there is a high likelihood that we might continue to see Polygon Matic’s growth, despite the current bear market of the crypto industry. This is despite its significant correlation with the industry. As seen from the past week, the continued positive fundamentals of Polygon has seen it trade against the larger trend of the industry.
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