Polygon (MATIC) Among Top Performers, Can It Sustain The Rally?

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Popular Ethereum layer-2 token MATIC has surged over 17% in the last 24 hours, leading the crypto market in gains. Its price jumped from the previous day’s low of $0.815 to a local high of above $1. However, the price succeeded in breaking through the $1 barrier, settling at $1.13 at press time. MATIC’s price had fallen for five days in a row beginning on October 29th. However, it has recently seen a remarkable uptick due to several positive developments. Meta’s recent announcement about supporting NFTs on Instagram leveraging Polygon was the main catalyst. The social media platf ...

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