The price of Polygon (MATIC) has been range-bound as bulls worry about a potential breach of the crucial support area preventing a downward rally. Many investors and traders were surprised by the price movement of MATIC, which rose from a weekly low of $0.3 to a high of $1.
This movement occurred during a bear market, which has only brought difficult times for the majority of cryptocurrency projects.
By October 31, 2022, Polygon is anticipated to trade at an average price of $0.885, based on CoinMarketCap’s ‘Price Estimates’ tool.
The outcome of the forecast made by 3,713 votes at the time of publication, the estimate reflects an increase of 18.56% or +$0.13.
Notably, Robinhood announced on September 27th that their Web3 wallet will only be released on Polygon. The price of the MATIC token did not significantly change despite the positive announcement.
Despite this, there’s a chance that the fresh launch will ultimately lead to a change in investors’ perceptions of the good. The last four weeks saw no change in the lower range of MATIC’s weighted sentiment index.
Polygon Ecosystem Grows…
Polygon had previously disclosed a partnership with Robinhood, which had an impact on MATIC’s price movement. The most recent announcement emphasizes the quick development going on in the background.
It was revealed by Polygon that it had partnered with Icetea Labs and Alpha Venture DAO to develop an accelerator program for blockchain entrepreneurs. The initiative intends to provide Web3 businesses all around the world with resources, mentorship, education, and business know-how.
In addition, Polygon announced the start of Polygon Bootcamp Africa, a two-month educational program designed to place Africa on the map of the world’s web3. The MATIC price started moving higher shortly after the announcement, and it is continuing to do so today.
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