MATIC price explodes, hits new all-time high with the arrival of Uniswap v3

MATIC price has hit a new all-time high above $2.70. The arrival of Uniswap’s v3 on the MATIC blockchain has fueled a bullish narrative for the altcoin’s price. Uniswap is key to Defi’s growing ecosystem and its arrival on the Polygon network is indicative of an upcoming growth spike in MATIC’s utility.

MATIC explodes and breaks into an uptrend with Uniswap’s arrival

Uniswap, a decentralized finance protocol has arrived on the MATIC blockchain. Proponents expected Uniswap’s arrival to contribute to a spike in the on-chain activity on the MATIC network. 

Uniswap v3 has offered significant improvements. As a scaling solution, the Polygon network offers low gas fees and a higher speed of transactions, powering over 3000 applications.

The MATIC network has processed over a billion transactions since its inception, and this could multiply further with the launch of Uniswap v3 in the Polygon ecosystem. 

Analysts have evaluated the MATIC price trend and predicted a continuation of the uptrend. The altcoin started its journey to new all-time high on December 21 and price crossed $2.70 hours earlier today. 

@TechDev_52, a crypto analyst has compared MATIC’s price trend to Ethereum’s price rally in 2017. Ethereum’s explosive price rally in 2017 pushed the altcoin into discovery mode. If MATIC price trend remains the same, it is on track to push price to a new all-time high. 

FXStreet analysts are bullish on MATIC price. The analysts believe that MATIC price is ready to hit another record high as Polygon network’s native asset shakes off a reversal setup.