Polygon (MATIC) hits all-time highs in intraday trading today – should you buy?

Polygon (MATIC) hits all-time highs in intraday trading today – should you buy?

By Motiur Rahman - min read

Polygon (MATIC) has surged in intraday trading today, hitting an all-time high of $2.7 at one point. The surge was triggered by the arrival of Uniswap V3 on the Polygon network. Uniswap is seen as a very important player in the growth of DeFi. Launching on Polygon is a huge achievement for MATIC investors. Here is what we know.

  • MATIC saw a bullish uptrend in early trading, surging to $2.7, its new all-time high

  • Analysts see the uptrend holding in the near term, with MATIC expected to see more gains in the future.

  • The deployment of Uniswap v3 is set to lift the profile of the Polygon network and bring more DeFi products in the long run. 

Data Source: Tradingview.com

Polygon (MATIC) – Price action and analysis

The bullish surge seen in intraday trading today was largely expected. After all, the launch of Uniswap v3 on Polygon was always going to be a big deal. However, MATIC has actually been on a somewhat bullish trajectory since the start of the week.

The coin did, however, lose some of its all-time high gains. At the time of writing, it was trading at $2.61. But looking at the chart, MATIC is now on an uptrend, and many analysts believe that it's going to see more all-time highs before the end of the year. The coin could also benefit from a market-wide bullish uptrend expected to hit crypto early next year.

Should You Buy MATIC?

The future is bright for Polygon (MATIC). With the deployment of Uniswap v3, more and more DeFi projects are expected to launch on the network. Besides, since its inception, Polygon has processed over 1 billion transactions, making it one of the fastest-growing blockchain projects in the world. It is therefore highly recommended, especially for long-term value investors.