Nexo lists Polygon, sending MATIC prices to higher highs
- Nexo, a regulated digital assets institution, offers MATIC holders 20% APR as a promotional campaign welcoming the Polygon network.
- In addition to lending initiatives, Polygon is one of the prime chains for minting NFTs and expanding Nexo’s offerings in the metaverse.
- Polygon network is among the top protocols that successfully onboarded the highest number of new users over the past eight weeks.
Nexo finance announces Polygon’s arrival on its platform. Investors can now earn 20% APR on MATIC as part of Nexo’s promotional campaign.
MATIC arrives on Nexo finance offering higher returns to investors
Polygon network is now on Nexo finance, offering holders and investors higher returns on the DeFi platform. The regulated crypto assets provider offers 150 market pairs to users. Users can now buy, swap and borrow against MATIC.
The ongoing promotional offer gives users 20% interest and distributes daily. With the rising importance of multi-chain networks, activity on the Polygon network is on the rise. Nexo’s team is engaging with the Polygon network for various initiatives.
Polygon network will help Nexo expand their offerings through NFTs, helping the DeFi protocol get into the metaverse. NFTs have high potential as a new asset class; Polygon’s blockchain network offers Nexo an opportunity to offer metaverse products.
Users that purchase MATIC on Nexo’s exchange can earn 20% interest and grow their passive income till the promotional offer lasts (Jan 3, 2022).
Polygon network has reached out to enterprise projects looking for sovereignty, their own blockchain and don’t want to derive security from Ethereum’s scaling solutions. Mihailo Bjelic, co-founder of Polygon network, tweeted:
We're in touch with a lot of projects (many of them from the enterprise world, but not all) who want sovereignty, i.e. their own chain/L1, and simply do not want/need to derive security from Eth L1.
— Mihailo Bjelic (@MihailoBjelic) November 24, 2021
This is a realistic and big use case that we're addressing with Polygon SDK.
Analysts have evaluated MATIC price trends and predicted a trend reversal. @Koolaid_crypto, a cryptocurrency analyst, believes that MATIC price is testing old resistance and is likely to breach resistance in the coming days.
$MATIC testing old resistance. The 0.618 fib is above the downward sloping trend line so we may see a breach of resistance in the coming days. #MATIC #MATICusdt pic.twitter.com/Hq0kVZryoM
— Crypto Koolaid (@Koolaid_crypto) November 24, 2021
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.
