{"id":262181,"date":"2021-05-29T10:19:53","date_gmt":"2021-05-29T07:19:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week\/"},"modified":"2021-05-29T10:19:53","modified_gmt":"2021-05-29T07:19:53","slug":"3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week\/","title":{"rendered":"# 3 reasons why Polygon (MATIC) outperformed Bitcoin and major cryptos this week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3843c1b2292\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3843c1b2292\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week\/#Growing_sentiment_and_hype_around_Polygon\" >Growing sentiment and hype around Polygon<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week\/#Google_BigQuery_announcement\" >Google BigQuery announcement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week\/#Cuban_backs_Polygon\" >Cuban backs Polygon<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># 3 reasons why Polygon (MATIC) outperformed Bitcoin and major cryptos this week <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Polygon (MATIC) is on a tear. In the past seven days, it has gained 35% in the past seven days, outperformed every major cryptocurrency apart from Uniswap.<\/p>\n<p>There are several big reasons behind the strong uptrend of MATIC, including the growing hype around Polygon, Google BigQuery announcement, and Mark Cuban&#8217;s investment.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/2723f6f1-bb47-4f43-b573-dac8be0ca620.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>MATIC 1-day candle chart (Binance). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Growing_sentiment_and_hype_around_Polygon\"><\/span>Growing sentiment and hype around Polygon<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On Feb. 9, Matic first announced its plans to rebrand to Polygon. At the time, they brought in promising metaverse projects and integrated Matic Plasma Chain.<\/p>\n<p>By implementing Plasma Chains, Polygon was able to provide a layer one blockchain network with built-in scaling solutions for projects.<\/p>\n<p>The Polygon team <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/polygontech.medium.com\/matic-network-becomes-polygon-ethereums-internet-of-blockchains-expands-mission-and-tech-scope-364932c02cd0\">said<\/a> in February:<\/p>\n<blockquote><p>&#8220;We implemented and offered Matic Plasma Chains, a production-ready Ethereum Layer2, predicates-based Plasma implementation; We implemented and offered Matic PoS Chain, a permissionless, EVM-compatible, PoS-secured Ethereum sidechain which relies on strong Ethereum security for validator staking and checkpoints; Onboarded 80+ amazing <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications, including Polymarket, Aavegotchi, Neon District, Skyweaver, Cometh, EasyFi with more being added everyday.&#8221;<\/p><\/blockquote>\n<p>Since then, Polygon has become a major layer-one blockchain project, specifically for metaverse projects with the numbers of users skyrocketing.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/dbf14bd3-8046-40aa-a539-5088eedc479c.jpeg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Polygon ranks top ten of cryptocurrencies by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> volume. Source: Lunar Crush<\/em><\/figcaption><\/figure>\n<p>The growing fundamentals seem to also be boosting the overall market sentiment for the blockchain project. <\/p>\n<p>Bullish momentum for MATIC was picked up by the VORTECS\u2122 data from Cointelegraph Markets Pro, which began to detect a positive outlook earlier this week, prior to the recent price highs.<\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/4d3cc483-de33-4a6d-bbc7-0a1274ad8177.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. MATIC price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score flipped green on the morning of May 24 and rose until peaking at 94 on May May 27 right as the price reached its recent highs above $2.30.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Google_BigQuery_announcement\"><\/span>Google BigQuery announcement<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In addition to several recent development milestones, including a Ren-Polygon bridge\u00a0for seven top crypto assets and SDK for building Ethereum-compatible chains, Polygon also announced on May 29 that the project completed the integration of Polygon assets into Google Cloud&#8217;s BigQuery.<\/p>\n<p>This integration is important because it improves the accessibility and positioning of Polygon; it allows users of BigQuery users to easily tap into Polygon.\u00a0<\/p>\n<p>The Polygon team <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygon\/status\/1398280743361540099\">said<\/a>:<\/p>\n<blockquote><p>&#8220;We are extremely thrilled to share that we have completed an integration of Polygon datasets into @GoogleCloudTech #BigQuery! This means that you can query Polygon\u2019s datasets, run analytics and extract insights using Google\u2019s #BigQuery platform.\u00a0Blockchains are some of the richest sources of verifiable data, and this is a big step towards improving developer access to Polygon\u2019s datasets and helping analysts unlock their immense latent value.&#8221;<\/p><\/blockquote>\n<p>Polygon is included in the BigQuery 1TB offering, which means that most BigQuery users will be able to run queries on the Polygon blockchain network to access various blockchain-related data sets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cuban_backs_Polygon\"><\/span>Cuban backs Polygon<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Additionally, billionaire investor Mark Cuban revealed investing in Polygon on May 25.<\/p>\n<p>Cuban explained that having a high transactions per second (TPS) output is highly important to lower the cost of usage for users.<\/p>\n<p>Furthermore, Cuban also emphasized that network effect is crucial, and Polygon already has many projects using the blockchain. He noted:<\/p>\n<blockquote><p>\u201cHaving more TPS and lower gas fees is not enough. There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because [with] few exceptions, marketing in the crypto universe is beyond awful. It is fast; it works well, and most importantly, their user base is growing exponentially.\u201d<\/p><\/blockquote>\n<p>Analysts also say that exiting DeFi investors are becoming <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly optimistic towards Polygon and projects on top of the blockchain.<\/p>\n<p>Brad Laurie, a crypto analyst, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Brad_Laurie\/status\/1398107007148650496\">stated<\/a>:<\/p>\n<blockquote><p>&#8220;He&#8217;s right. There&#8217;s been a huge shift in support for @0xPolygon from all kinds of parties, influ, groups &amp; powerful players. There&#8217;s no question that the ETH-#DeFi crowd are keen for the upcoming deals on $MATIC. Many of &#8217;em are busy reading pitch-decks in prep for the hustle.&#8221;<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3-reasons-why-polygon-matic-outperformed-bitcoin-and-major-cryptos-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 3 reasons why Polygon (MATIC) outperformed Bitcoin and major cryptos this week &#8221; Polygon (MATIC) is on a tear. In the past seven days, it has gained 35% in the past seven days, outperformed every major cryptocurrency apart from Uniswap. There are several big reasons behind the strong uptrend of MATIC, including the growing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":262182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZTk3YzA2NjEtNjdiOS00ZmYzLWI5M2MtNzgxMmQ5MjA3NjJlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74937,74863,82402,74939,88700,73785],"class_list":["post-262181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-ether-price","tag-market-analysis","tag-uniswap","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/262181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=262181"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/262181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/262182"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=262181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=262181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=262181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}