MATIC token price up nearly 27% in 24 hours

The price of the Polygon (MATIC) token, the Ethereum-layer-2 solution, rose 26.8% in the last 24 hours and 68.4% in the week, according to data from CoinGecko.

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At the time of writing, the token trades around $0.96. The asset is up on the back of overall market optimism and a tweet by developer Mihailo Bjelic.

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When we started @0xPolygon, the Ethereum community embraced us. That empowered us to onboard 30k apps and 150M users and become a giant among scaling efforts and alt L1s.

We made a promise to stay committed and give back to Ethereum.

In 3 days, we are delivering on that. 🦄💫 pic.twitter.com/hRBN8DOVF7

— Mihailo Bjelic (@MihailoBjelic) July 17, 2022

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ApeCoin (APE), linked to the BAYC ecosystem, also saw notable gains. Over the last 24 hours it rose 19.4%, to $6.05. This was preceded by the publication of the lite paper for the Otherside project. The metaverse will launch on Improbable’s MSquared network.

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In May, the issuer of the largest-stablecoin by market capitalization, Tether, launched the asset on the Polygon network.

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In June, the operator of the stablecoin USD Coin (USDC) Circle added support for the blockchain.

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For what Polygon is, read in educational cards ForkLog.

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