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MATIC Leads Market Recovery, Soars 15% After HTC Launches Metaverse Phone Supporting Polygon

Altcoins

thecryptobasic.com 05 July 2022 10:13, UTC
  
Reading time: ~2 m

MATIC records over 15% gains following the launch of HTC Desire 22 Pro, which supports Polygon-based assets.

The price of Polygon (MATIC) has surged more than 15% in the last 24 hours amid a recovery in the broader cryptocurrency market. Polygon saw the value of its native cryptocurrency soar to a high of $0.53 in the last 24 hours after falling below $0.46.

MATIC Becomes Biggest Gainer Among Top 50 Cryptocurrencies

However, at press time, MATIC’s value has dropped to $0.51, representing a 12% increase in the past day. MATIC’s tremendous growth makes it rank among the biggest gainers over the past 24 hours, moving more than Bitcoin (BTC), Ethereum (ETH), Solana (SOL), etc.

It is interesting to see MATIC rank as the top gainer among the top 50 largest cryptocurrencies by market capitalization.

Polygon boasts of a market capitalization of $4.1 billion and currently sits as the 18-largest cryptocurrency, according to data on Coingecko.

What’s Fueling MATIC’s Price 

MATIC is becoming increasingly popular among crypto investors by the day, as Polygon continues to proffer solutions to the usability and scalability problems inherent in the Ethereum blockchain.

Although Polygon is currently changing hands at a lower price compared to its all-high of $2.9 recorded on December 27, 2021, the digital currency’s recent growth is commendable especially as cryptocurrencies continue to fight for their survival in the ongoing crypto winter.

It is not surprising to see MATIC record good gains as crypto investors’ interest in Web3 applications spike, with Polygon positioning itself as one of the biggest beneficiaries of Web3 applications.

HTC Launches Metaverse Phones for Polygon Assets

Popular mobile phone manufacturer HTC announced the launch of its metaverse phone, Desire 22 Pro, which features Polygon and Ethereum support.

The 8GB RAM and 128 GB storage device comes with the Viverse app and Vive wallet and allows users to manage their Ethereum and Polygon assets, including non-fungible tokens (NFTs).

Mihailo Bjelic, the co-founder of Polygon, took to Twitter to announce the development.

“Mass adoption of Web3 will happen on mobile and @0xPolygon is preparing for it. Our strategy is not to make our own devices. Instead, we will integrate with existing manufacturers. Today, we are proud to announce the first major integration.”  Bjelic said.

Mass adoption of Web3 will happen on mobile and @0xPolygon is preparing for it.

Our strategy is not to make our own devices. Instead, we will integrate with existing manufacturers.

Today, we are proud to announce the first major integration.

Onwards. 🔥https://t.co/sGCfTm6v7P

— Mihailo Bjelic (@MihailoBjelic) July 4, 2022


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