Will These Catalysts Propel Polygon (MATIC) Price Above $1 this Week?

Polygon price is trading within a bearish range for nearly a week and constantly failing to reignite a notable upswing. Moreover, the price marked new lows close to $0.77, a couple of times, but failed to sustain above $0.85.  Besides, the platform has a lot to share with the crypto community. The platform recently recorded new milestones with respect to zkEVM’s which is believed to impact the MATIC price to a large extent. 

In a recent update, Polygon’s transactions have surged beyond 22,000 and this has been recorded since the launch of zkEVM. 

As per the official tweet, more than 10,500 wallets were created, while the total number of deployed contracts increased by more than 4%. Moreover, the Polygon’s zkEVM remained the first-ever EVM-compatible ZK roll-up which has code ready for every component including the prover. 

Additionally, the number of NFTs being created has also risen significantly as nearly 1000 NFTs were created in the past 24 hours, while the volume registered a spike of over 73,000. Besides, the platform also outperformed BNB in terms of daily transactions on the chain. 

Meanwhile, the MATIC price remained largely unimpacted as the fresh rejection sparked the price o remain within a bearish trend for a long. However, considering the wider perspective, the price is hovering within an ascending triangle that is largely considered bullish. Therefore, the price may continue ranging toward the pinnacle of the consolidation that may lead to a gigantic bull run in the coming days. 

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