Polygon sets new record, but what’s in store for MATIC?

by James · January 2, 2023

Polygon’s NFT OpenSea volume has achieved a new record in sales, reaching $324 million.
MATIC showed signs of improvement and some of the calculations looked positive.

This new year brought good news for Polygon [MATIC], which hinted that 2023 has a lot in store for the network. Vendible announced the launch of the Ible City tool NFT Series IV at Polygon.

Ible City is a collection of 16,000 plots in Vendible’s virtual DAO, of which 7,000 are sold out. Ible City NFTs are issued as Cross-Network Fungible Tokens in six series across six networks.

📢@govendible launching Ible City tool NFT series IV on Polygon!!💥

Ible City is a collection of 16,000 plots in Vendible’s virtual DAO and 7,000 have been sold out on #Algorand🔥

Let us give you a tour of this collection and bundle you up for its upcoming launch👇 pic.twitter.com/JjM9GxJ7a8

— Polygon Daily 💜 (@PolygonDaily) 31 December 2022

Read Polygon [MATIC] Price prediction 2023-24

2023 begins with a promising start

It is noted here that Polygon recently achieved a new milestone as the NFT OpenSea volume achieved a new record in sales, reaching $324 million, surpassing the previous record set in 2021. This development is a testament to Polygon’s popularity in NFT- the ecosystem.

$MATIC 𝗕𝗥𝗘𝗔𝗩𝗜𝗡𝗚: Despite the bear market outlook for 2022, Polygon’s NFT OpenSea Volume has achieved a new record in sales, reaching $324 million. This surpasses the previous record set in 2021.

Now imagine 2023 with #MagicEden #The Phantom #y00ts on Polygon 👀🔥#Polygon #NFTs pic.twitter.com/NK785M5TD6

— WEB3 Market Insight 🇦🇺 (@iftikharpost) 1 January 2023

Not only this, but several of the NFT collections, such as y00t, revealed that they will bridge to Polygon during the first quarter of 2023. Interestingly, existing Polygon projects, such as Aavegotchi, announced that they will officially remain at Polygon this year.

We will, Polygongrowth in the NFT space was evident as Santiment’s chart revealed promising metrics. According to the data, Polygon’s total NFT trade count and USD trade volume recorded a peak in the past week.

Source: Sentiment

How many You can get MATICs for $1?

When will MATIC respond?

MATIC’s performance on the price front did not match the updates as it registered a decline of more than 5% in the last seven days. However, it showed little signs of recovery as the price rose by 0.59% in the last 24 hours. At press time, the token was trading at $0.7551 with a market capitalization of over $6.5 billion.

A few of the calculations also supported MATIC and suggested that a trend reversal was around the corner. CryptoQuants data revealed that MATIC’s net deposits on exchanges were low compared to the 7-day average, which is a positive sign as it indicates less selling pressure.

MATIC’s active addresses also increased, reflecting a greater number of users on the network. Network growth registered an uptick in the last week, which also looked optimistic. Nevertheless, MATIC’s MVRV ratio went down, which may cause MATIC’s price to fall in the coming days.