• Ethereum layer 2 scaling solution Polygon has achieved carbon neutrality by retiring $400,000 worth of carbon credits. 
  • MATIC’s partnership with KlimaDAO has helped the Ethereum scaling solution retire their entire carbon debt since inception in 2019. 
  • Analysts believe MATIC price could continue its uptrend and push price to $0.63. 

MATIC’s purchase of carbon credits through KlimaDAO partnership represented 104,794 tonnes of greenhouse gasses, equivalent to the Ethereum scaling solution’s debt since 2019. Carbon neutrality has fueled a bullish sentiment among traders and 

MATIC partners with KlimaDAO for Carbon neutrality 

In a recent blog, Ethereum’s layer-2 scaling solution revealed its partnership with KlimaDAO. MATIC recently published an environmentally friendly Green Manifesto and bought $400,000 in carbon credits. These credits represent 104,794 tonnes of greenhouse gasses and wipes out MATIC’s carbon footprint since the protocol’s launch in 2019. 

Sandeep Nailwal, the co-founder of Polygon took up the initiative to turn the project net positive for the environment. Nailwal acknowledged the current environmental crisis and announced that MATIC has pledged $20 million to utilize Web3 and create a sustainable future. 

MATIC’s recent expansion has made the layer-2 scaling solution more effective, as it is embraced by hundreds of blockchain projects like AAVE, QuickSwap and Curve Finance. MATIC recently launched a scalable payments platform and increased transactions per second to 2,000. 

Large wallet investors have continued MATIC accumulation for about six weeks and tiers holding 10,000 to 10 million MATIC have collectively added 8.7% more tokens to their holdings. 

MATIC price explodes, could continue uptrend

Crispus Nyaga, a crypto analyst evaluated the MATIC price chart and identified a strong bullish trend. 25-day and 50-day moving averages have made a bullish crossover and the analyst identified an inverted head and shoulders pattern in the altcoin’s chart. 

The initial resistance level for MATIC is at $0.5652 and next resistance is at $0.63. 



FXStreet analysts are bullish on Ethereum and predicted a jump in the altcoin’s price. For more information, watch this video:


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

MANTA suffers 4% pullback after unlocking tokens worth $40 million

MANTA suffers 4% pullback after unlocking tokens worth $40 million

Manta Network (MANTA) unlocked over 8% of its circulating supply on Thursday. The unlocked tokens were airdropped and distributed in public sale, according to data from Tokenunlocks. 

More Cryptocurrencies News

XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says

XRP struggles to recover as lingering Ripple lawsuit could reach Supreme Court, former SEC litigator says

The SEC vs. Ripple potential showdown at the Supreme Court is likely, says former SEC litigator Ladan Stewart. XRP Ledger calls developers, businesses and investors to build on the blockchain, extending Apex 2024 registration until April 30. 

More Ripple News

Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction

Bitcoin Layer 2 Merlin chain TVL climbs 20%, defying broad market correction

Merlin chain’s TVL added 20% this week, and crossed $800 million on Thursday. Bitcoin Layer 2 assets noted double-digit losses in the past week. Stacks, Elastos, SatoshiVM, BVM are hit by a correction as Bitcoin hovers around $61,000. 

More Bitcoin News

If Bitcoin restarts bull run, these altcoins are likely to explode Premium

If Bitcoin restarts bull run, these altcoins are likely to explode

If Bitcoin’s consolidation ends and the bull run resumes, altcoins are likely going to trigger a massive rally. Last cycle’s hot tokens like SOL, AVAX, WIF, ONDO, etc., could see renewed enthusiasm. 

More Cryptocurrencies News

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established. 

Read full analysis