Members of the crypto community cast their votes, so to speak, and now we are going to find out if their prediction was correct or not.
The consensus of the cryptocurrency market is forecasting a 20% surge in MATIC prices before the end of the month, as reported by CoinMarketCap’s price prediction metrics.
This fairly optimistic forecast from the community indicates a high level of trust in both the token and the ecosystem.
Good news recently reached the Polygon community, thanks to a tweet from the official Polygon Twitter account announcing a new collaboration with trading platform Robinhood.
Will Robinhood bring good results to Team-Up?
The tweet suggests that Robinhood has partnered with Polygon to offer a bitcoin wallet service. The Robinhood wallet app was built with DeFi in mind.
According to Polygon’s blog post, the Robinhood wallet is a self-custody wallet, which means its owner has complete discretion over their cryptocurrency holdings.
Robinhood has made other forays into the cryptocurrency market, so this isn’t their first venture.
It has been actively involved in the crypto industry since its inception in 2018, with Bitcoin and Ethereum being the first coins to be freely traded on the platform. The change began in a select number of states.
By 2021, crypto asset trading has spread to the entire United States, with the exception of Hawaii and Nevada.
The trading platform supports 11 cryptocurrencies including Bitcoin and Ethereum. It also facilitates trading in alternative cryptocurrencies, similar to Polygon’s MATIC token.
With over 37,000 decentralized applications available on the Polygon platform, it will undoubtedly support Robinhood’s most ambitious cryptocurrency venture. But how did Polygon investors and traders react to the news?
Rally on the horizon for crypto?
As of this writing, MATIC is trading at $$0.778741, down 0.1 percent over the past seven days, data from Coingecko shows Saturday.
Currently, the token is trading between the 50 Fib level ($0.6876) and the 61.80 Fib level ($0.7761).
The current support line stands at $0.7252, which is important as this will be the support line that the bulls can rely on for the downside.
If the price reaches the 61.80 Fib mark again, a slight correction can be expected if there is sufficient buying demand.
Investor confidence is high as Polygon advances its Robinhood relationship amid the community’s forecast of a nearly 20% price increase.
MATIC total market cap at $6.8 billion on the daily chart | Source: TradingView.com Featured Image by VOI, Chart: TradingView.com
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