Polygon (MATIC) resists the downtrend

[ad_1] <div data-id="174348" data-title="Polygon (MATIC) resilient to last month’s crypto bearish trend" data-slug="https://en.cryptonomist.ch/2022/11/16/polygon-matic-resists-downtrend/">

<section id="custom_html-94" class="widget_text widget widget_custom_html"/> Polygon, the second layer of Ethereum, with its native crypto MATIC is withstanding the final bearish development that has touched cryptocurrencies over the previous month. Not solely that, its newest partnership with Bebop has led to a value pump.

<h2>Polygon: MATIC is resilient to the final bearish development over the previous month</h2> Taking a look at Polygon’s (MATIC) value chart, it seems that Ethereum’s second-layer crypto has not been carried away by the final bearish development of the previous month, particularly after final week’s <a target="_blank" href="https://en.cryptonomist.ch/2022/11/15/collapse-ftx-worst-crisis-bearish-period/" rel="noopener">FTX crash</a>. And certainly, on the time of writing <a target="_blank" href="https://coinmarketcap.com/currencies/polygon/" rel="noopener">MATIC</a> is price $0.92, up from $0.81 a month in the past, touching a excessive at $1.27 final Monday, 7 November, and a low at $0.78 final Thursday, 10 November (as a result of FTX collapse). That is one thing that has not occurred to Ethereum, with ETH nonetheless not recovering from the value dump as a result of FTX occasion, registering on the time of writing a value of $1254 versus $1307 a month in the past. Considerably worse than Ethereum is the efficiency of Bitcoin (BTC), which from its $19,240 final month, stands on the time of writing at $16,845. This state of affairs means that Polygon is uniquely withstanding the final bearish market that your complete crypto sector is experiencing. <h2>Polygon and the Bebop partnership: maybe the lifeline?</h2> Throughout the identical days that the deep disaster of crypto-exchange FTX was unfolding, Polygon introduced its partnership with Bebop. <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 🪙 <a target="_blank" href="https://twitter.com/bebop_dex?ref_src=twsrc%5Etfw" rel="noopener">@bebop_dex</a> launches a singular ‘One-To-Many’ ‘Many-To-One’ token buying and selling platform <a target="_blank" href="https://twitter.com/hashtag/onPolygon?src=hash&ref_src=twsrc%5Etfw" rel="noopener">#onPolygon</a>! This new platform, incubated by DeFi powerhouse <a target="_blank" href="https://twitter.com/wintermute_t?ref_src=twsrc%5Etfw" rel="noopener">@wintermute_t</a>, selected <a target="_blank" href="https://twitter.com/hashtag/Polygon?src=hash&ref_src=twsrc%5Etfw" rel="noopener">#Polygon</a> to allow low charges and a best-in-class person expertise. <a target="_blank" href="https://t.co/Cacb5pZcci" rel="noopener">pic.twitter.com/Cacb5pZcci</a> — Polygon – MATIC 💜 (@0xPolygon) <a target="_blank" href="https://twitter.com/0xPolygon/status/1590012568059670528?ref_src=twsrc%5Etfw" rel="noopener">November 8, 2022</a></blockquote>

<blockquote>“@bebop_dex launches a singular ‘One-To-Many’ ‘Many-To-One’ token buying and selling platform #onPolygon! This new platform, incubated by DeFi powerhouse @wintermute_t, selected #Polygon to allow low charges and a best-in-class person expertise.”</blockquote> Bebop is a brand new decentralized buying and selling platform that provides “One-To-Many” and “Many-To-One” digital asset exchanges with zero slippage. In essence, Bebop offers customers a bonus in fast-moving markets by permitting them to enter or exit a number of positions without delay whereas saving on community charges. The platform additionally boasts true zero slippage transactions, that means there is no such thing as a distinction between the value the person expects to pay when inserting an order and the value at which it's executed. With the <a target="_blank" href="https://polygon.technology/blog/bebop-brings-one-to-many-many-to-one-token-trading-to-polygon" rel="noopener">implementation</a> on Polygon, Bebop joins a vibrant ecosystem of tens of 1000's of dApps that features a few of the largest Web3 tasks, equivalent to <a target="_blank" href="https://en.cryptonomist.ch/?s=opensea&search=" rel="noopener">OpenSea</a>, <a target="_blank" href="https://en.cryptonomist.ch/?s=aave&search=" rel="noopener">Aave</a>, and <a target="_blank" href="https://en.cryptonomist.ch/?s=uniswap&search=" rel="noopener">Uniswap v3</a>. The mix of the community’s technical capabilities and the core crew’s dedication to sustainability has additionally led corporations equivalent to <a target="_blank" href="https://en.cryptonomist.ch/2022/09/13/starbucks-unveiled-nft-program-on-polygon-called-odyssey/" rel="noopener">Starbucks</a>, <a target="_blank" href="https://en.cryptonomist.ch/?s=robinhood&search=" rel="noopener">Robinhood</a>, and Stripe to decide on Polygon as their gateway to Web3. On this regard, Hamzah Khan, head of DeFi and Labs at Polygon, mentioned: <blockquote>“Bebop is bringing new and complicated instruments to Polygon’s DeFi sector that broaden the person expertise drastically and supply new choices for skilled and novice merchants alike. Bebop’s one-to-many buying and selling will turn into an business benchmark in years to come back, and we’re delighted to assist kickstart that journey.”</blockquote> <h2>Nike additionally enters the second layer of Ethereum</h2> Simply at present, Polygon introduced that Nike has additionally joined its checklist of companions. <blockquote class="twitter-tweet" data-width="500" data-dnt="true"> Seize your kicks 👟 + BRING 👏🏽 YOUR 👏🏽 A 👏🏽 GAME 👏🏽<a target="_blank" href="https://twitter.com/Nike?ref_src=twsrc%5Etfw" rel="noopener">@Nike</a> is constructing their web3 experiences solely <a target="_blank" href="https://twitter.com/hashtag/onPolygon?src=hash&ref_src=twsrc%5Etfw" rel="noopener">#onPolygon</a> 💪🏾 This is step one of the journey, and we will not wait to see how Nike engages its group by way of <a target="_blank" href="https://twitter.com/hashtag/web3?src=hash&ref_src=twsrc%5Etfw" rel="noopener">#web3</a><a target="_blank" href="https://t.co/bk19RLNodX" rel="noopener">https://t.co/bk19RLNodX</a> — Polygon – MATIC 💜 (@0xPolygon) <a target="_blank" href="https://twitter.com/0xPolygon/status/1592212701039697929?ref_src=twsrc%5Etfw" rel="noopener">November 14, 2022</a></blockquote>

<blockquote>“@Nike is constructing their web3 experiences solely #onPolygon.This is step one of the journey, and we will’t wait to see how Nike engages its group by way of #web3.”</blockquote> As a matter of reality, lately Nike <a target="_blank" href="https://en.cryptonomist.ch/2022/11/15/nike-launches-dot-swoosh-nft-marketplace/" rel="noopener">launched</a> Dot Swoosh, its new platform that enables customers to purchase, show and commerce digital and digital merchandise, unlock entry to occasions and merchandise, and co-create merchandise. A type of residence for Nike’s digital creations together with its well-known NFT collections, it marks the start of what the US footwear and sportswear big sees in Web3 experiences, notably involving Polygon. <h2>Instagram and Polygon for NFTs.</h2> Not too long ago, Meta’s image-based social community, Instagram, additionally <a target="_blank" href="https://en.cryptonomist.ch/2022/11/04/polygon-instagrams-nfts-crypto-matic-soars/" rel="noopener">decided</a> to use Polygon’s blockchain for its NFTs. Principally, NFT creators will be capable to select whether or not to use the social community to promote their NFTs created on Polygon, in the meantime Instagram will certainly accumulate charges. A brand new market for the social community which can be lively within the 100 international locations the place Instagram is already working.

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