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Polygon (CRYPTO: MATIC) was trading 7.2% higher after 24 hours before Tuesday night.
The Layer 2 Scaling Platform Token Ethereum (CRYPTO: ETH) has soared 28.84% over the course of seven days.
MATIC was trading 2.9% and 3.1% higher compared to Bitcoin (CRYPTO BTC) and ETH, respectively, after a 24-hour tracking period. MATIC’s business volume increased 51.6% to $ 2.8 billion in 24 hours.
In the past 30 days, the token it has risen by 38.9%, while in a period of 90 days it has advanced by 103.9%.
Since the beginning of the year, MATIC has risen 12,654.82%. The cryptocurrency hit an all-time high of $ 2.68 in May of this year.
Why is it moving?
MATIC was trading higher along with other major currencies at the time this article was published, on a day when the global market capitalization of cryptocurrencies rose 4% to $ 2.3 trillion.
The token It was not among the most mentioned currencies on Twitter at press time, according to Cointrendz data, but it was arousing great interest among traders retailers on StockTwits.
MATIC was also trending on cryptocurrency price data aggregators CoinGecko and CoinMarketCap at the time of publishing this article.
On Tuesday, Polygon announced that it was partnering with the development platform blockchain Alchemy and the Web 3 community to launch Web3 University.
Get started today at https://t.co/qBIsovUGkv
— Polygon | $MATIC – We’re hiring! (@0xPolygon) December 21, 2021
Polygon’s announcement comes at a time when criticism and ridicule are mounting about the supposed next iteration of the Internet that would be backed by the blockchain.
On Tuesday, the CEO of Tesla Inc (NASDAQ:TSLA), Elon Musk, criticized Web3 by saying that it was nowhere to be seen. Musk’s criticism elicited witty responses from the co-founder of Dogecoin (CRYPTO: DOGE), Billy Markus, and the co-founder of Twitter Inc (NASDAQ:TWTR), Jack Dorsey.
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Elon Musk and Jack Dorsey Ditch Web 3.0 | Benzinga Spain