The price of MATIC has surpassed $2.70 for the first time. The introduction of Uniswap’s v3 to the MATIC blockchain has generated an optimistic narrative for the altcoin’s price.
Uniswap is an important part of Defi’s expanding ecology, and its introduction on the Polygon network heralds a surge in MATIC’s utility.
The MATIC blockchain now supports Uniswap, a decentralised finance mechanism. The launch of Uniswap was expected to contribute to an increase in on-chain activity on the MATIC network, according to supporters.
Since its creation, the MATIC network has completed over a billion transactions, and with the introduction of Uniswap v3 into the Polygon ecosystem, this number could rise much higher.
Analysts assessed the MATIC price trend and anticipated that it would continue to rise. The altcoin began its climb to a new all-time high on December 21, and the price crossed $2.70 just a few hours ago.
MATIC price to enter discovery mode!
Even as the premier Ethereum-scaling solution reaches new all-time highs, Benjamin Cowen informs his YouTube viewers that Polygon’s daily levels dating back to July show a strong rise, and that price discovery mode could be right around the horizon.
He says one may argue that we’re in a broad uptrend and on the verge of price discovery. It’s always fascinating since the types of walls available at various price points aren’t always the same.
The next step, according to Cowen, is for MATIC to reach a specific level in order to enter price discovery mode.
“Let’s call it $2.79. $2.79 MATIC will get it to price discovery mode. And not anything below it.” He said.
MATIC’s price movement has been compared by TechDev 52, a crypto analyst, to Ethereum’s price surge in 2017. The dramatic price rise of Ethereum in 2017 propelled the altcoin into discovery mode. If the MATIC price trend continues, it will push the price to a new all-time high.