MATIC price explodes, hits new all-time high with the arrival of Uniswap v3
- MATIC price hit a new all-time high earlier today, crossing $2.70 in its uptrend.
- Uniswap v3 deployment on the Polygon network is now complete.
- Analysts have predicted continuation of MATIC uptrend based on the recent price chart.
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.
1/ We're excited to announce v3 has been deployed on @0xPolygon!
— Uniswap Labs (@Uniswap) December 22, 2021
As a leading scaling solution, Polygon offers low gas fees and fast transactions, with over 3000 applications hosted and 1B transactions processed! pic.twitter.com/bzRRkqDJuk
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.
$MATIC still looking quite a bit like $ETH 2017. pic.twitter.com/HSq68DWfdh
— TechDev (@TechDev_52) December 22, 2021
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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
