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MATIC Soars to New All-Time High as Uniswap Launches on Polygon

Polygon season continues as the project finds even more use cases. In a new development, Uniswap – the largest decentralized exchange on the market – has been deployed on the Polygon network.

In November, the co-founder of Polygon, Mihailo Bjelic, submitted a proposal on the Uniswap governance portal to deploy Uniswap v3 on Polygon. On December 18, the proposal had received the support of more than 72 million Uniswap (UNI) token holders.

On December 23, Polygon deployed Uniswap V3 on its network giving users access to swap tokens using the Polygon blockchain via Uniswap’s official interface. In 2021, Uniswap facilitated over $600 billion in trading volumes on its v2 and v3 platforms.

Polygon (MATIC) Soars to New All-Time High

Following the announcement, MATIC, the native token of the Polygon network, began to rally, reaching a new all-time high in the process. On December 23, MATIC set a new ATH at $2.70 on the back of a 27% gain over the last seven days.

The seven days price chart of Polygon (MATIC). Source: TradingView

MATIC has briefly corrected, now trading at $2.5737. This year-to-date, MATIC has gained more than 14,400%, making it one of the best performing cryptos of 2021. Polygon is now ranked as the 14th largest crypto with a $17.83 billion market cap. 

On the Flipside

  • Polygon has been a target for hackers, with $31 million recently stolen from MonoX on the network

Why You Should Care

Polygon’s industry-leading technology and scaling solution have seen the project grow in adoption, now ranking as one of the best projects in the cryptoverse.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.