Polygon (MATIC) News: MATIC Price Set to Reach $1 After Latest Update
Polygon (MATIC) news: Robinhood trading app has now introduced support for deposits and withdrawals of Polygon coins on the Polygon blockchain. The Layer-2 blockchain solution will enable users to enjoy much faster transaction speed and lower trading fees than Ethereum. In addition, users can now transfer MATIC on the Robinhood platform without paying bridge fees.
As traders will benefit from the update, the support of polygon could drive MATIC price to rebound to $1.
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Polygon (MATIC) news: Robinhood add support for MATIC
Commission-free trading app Robinhood has launched deposits and withdrawals for MATIC on the Polygon blockchain, as per an official announcement on September 1. In addition, users can transfer MATIC tokens through the Polygon network without paying bridging fees on Robinhood.
Hamzah Khan, head of DeFi at Polygon, said:
“We’re delighted Robinhood has introduced on-chain support for MATIC deposits and withdrawals, further enhancing their impressive suite of integrated services, enabling access to the Coinbase wallet and Metamask.”
Robinhood users can now use MATIC tokens to perform various tasks including lending, borrowing, providing liquidity, and swapping on the Polygon PoS chain. More than 37,000 dApps on Polygon such as AAVE, Uniswap, and Balancer enable users to explore multiple use cases.
Robinhood recently listed Polygon’s MATIC token in mid-April, along with other tokens such as Compound (COMP), Shiba Inu (SHIB), and Solana (SOL). This allowed users to save fees and eliminate long confirmation times. Ethereum Layer-2 scaling solution Polygon enables lower gas fees and higher throughput without compromising security.
Polygon (MATIC) price on bullish trend
Polygon (MATIC) price is showing uptrend while other cryptos continue to weaken amid rising selling pressure. MATIC price is currently at $0.83. The price has risen more than 3% from the $0.75 support level in the last 24 hours and up 10% in a week.
The MATIC price can retest $1 if it breaks above the resistance level at $0.85. However, traders may have to wait a little more as the price is trading between the $0.75-$0.83 range. One thing for sure is that support from Robinhood could drive MATIC price up.
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