MATIC Prices Increase By 30% After Attaining Carbon Neutrality

MATIC Prices Increase By 30% After Attaining Carbon Neutrality

In the past few days, the value of Polygon (MATIC), the 18th most valuable cryptocurrency by market size, has increased by more than 32%. According to CoinGabbar, the price of MATIC increased by 46.84 percent over the last week and by 17.46 percent only in the previous 24 hours.

MATIC, however, is still down almost 83 percent from its record high, which was set on December 27, 2021. Despite this, investors who have been hurt by the market slump undoubtedly find solace in Polygon's recent price climb.

After hitting a high of $0.6261 today, MATIC is presently trading at $0.5931. The rising triangle pattern on MATIC has also been broken, hence the next resistance is anticipated to be at the $0.73 level.

Due to Polygon's recent achievement of carbon neutrality, which is a balance between emitting and absorbing carbon, MATIC prices have increased.

“By retiring $400,000 in carbon credits that are equivalent to 104,794 tonnes of greenhouse gases, or the whole network's CO2 debt since creation, Polygon has taken a significant 1st step toward being carbon negative,” the blockchain firm stated in a blog post on June 21.

“Polygon will set the example as the whole sector transitions to become a net positive for the environment,” according to Sandeep Nailwal, co-founder and CEO of Polygon.