Tag: Polygon

Polygon Unveils $1B Push to Supercharge DeFi Ecosystem

Polygon’s cooking up a $1B plan to deploy idle stablecoins into DeFi vaults like Yearn and Morpho, aiming to rake in $91M yearly yields. The cash will boost liquidity, DeFi action, and ecosystem growth. With MATIC now POL and its $5B market cap, Polygon’s gearing up for next-level DeFi vibes.

Polygon is about to make a bold move to boost its DeFi ecosystem by unlocking over $1 billion in stablecoins that have been sitting unused in its PoS Bridge. Right now, stablecoins like are just there with no real purpose. But after this new plan comes in it will surely put that money to work and drive real growth.

This proposal has the backing of some big names in DeFi, including Allez Labs, Morpho Labs, and Yearn Finance. The goal is to deploy about $1.3 billion into carefully selected vaults on Polygon, which will use quality collateral. The plan expects to generate around $91 million in annual yield, which would then be reinvested into Polygon’s ecosystem to increase liquidity, attract more DeFi activity, and enhance the network’s infrastructure.

Paul Frambot, CEO of Morpho Labs, pointed out that these idle reserves represent a major missed opportunity, with potential earnings of $50 million to $90 million each year.

Plus, Polygon has also moved more ahead by recently rebranding its token from MATIC to POL. This incident overall led to its market cap being pushed to $5 billion.

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Polygon Jumps 40% in a Week – Is a Push to $0.45 on the Horizon?

Polygon’s token POL has shot up by over 22% this past week and market vibes show it could climb even further and possibly hit that $0.45 mark soon. Analysts are debating on where this token is headed next. Crypto analyst Man of Bitcoin believes on its potential for more gains pointing to an Elliott wave 5 pattern that could mean another push up.

Polygon, also known as POL or MATIC is a very popular cryptocurrency and blockchain network designed specially to make Ethereum based projects more fast and cheap. Polygon assists on solving these problems through its “sidechains”, which are basically a chain of mini-networks running alongside Ethereum to handle transactions more efficiently. Additionally polygon tech also helps in development in DeFi apps, NFTs, and other projects without worrying about high fees. It is widely used by developers as it makes things much easier and it has a strong community supporting it.

POL token is on a uphill ride recently, with reaching over 40% gain in a single week. A Crypto analyst Man of Bitcoin says Polygon still has room left to rise, highlighting what’s called an “Elliot wave 5 pattern”. This pattern basically means a signal in technical analysis that hints the asset might be heading for another rally. In simple terms, it breaks through price movements into 5 different waves with the final “wave 5” often marking a strong push upward before any cooldown. So, if this works out POL can experience another boost pretty soon.

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Polygon Price Outlook

As the time of writing, Polygon’s token MATIC is priced at $0.4146  with a 24 hour trading volume of $23,890,287. This indicates an impressive 9.31% rise in the past 24 hour and an amazing 40.33% rise in the last seven days. It currently holds a circulating supply of staggering 2.6 billion MATIC tokens and covers a market capitalization of about $1.07 billion. Backed by its recent positive rise, its placed comfortably at the 92th position in worlds top crypto list.

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