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Following the debut of Reddit's avatar marketplace on top of the #Polygon network, the price of $MATIC has increased by 10%. Taking advantage of decreased pricing, whales owning between 10 and 100 million MATIC have been building up their fortune.

Robinhood App lists MATIC and Reddit partners with Polygon for NFTs - Big win for the chain!

A few days ago it was announced that Robinhood and Polygon would work together. The parent company of Matic is called Polygon. Before being renamed, Polygon was once known as The Matic Network. According to the stated agreement, the Robinhood trading platform will support MATIC ERC-20 deposits and withdrawals.

All qualified Robinhood app users who have access to the WebWallets functionalities and were on the waitlist are now able to send and receive any Matic that is currently available in the app thanks to this collaboration.

The Robinhood website claims that, in contrast to other exchanges that impose trading fees, users who are qualified to use the withdrawal and deposit options also get free trading. The foundation of Robinhood is the goal of democratizing access to finance for all people worldwide.

Please keep in mind that, despite the fantastic offer, it does not cover the listing of the Matic cryptocurrency coin on Robinhood, since the exchange already did so on April 12, 2022. This is because Robinhood, which has millions of customers, already listed Matic.

In cryptocurrency markets, the announcement of the partnership between Polygon and Robinhood has already caused a stir. $MATIC has increased by about 5%. With a market cap of almost $4.3 billion and a trading volume of more than half a billion, the currency is now worth about $0.56.

Following the debut of Reddit's avatar marketplace on top of the #Polygon network, the price of $MATIC has increased by 10%. Taking advantage of decreased pricing, whales owning between 10 and 100 million MATIC have been building up their fortune.

The most recent MATIC price hike is the result of several weeks' worth of whale accumulation. To mint NFT avatars, Reddit has teamed with Layer 2 scaling platform Polygon. The announcement's creator, Ryan Watts of Polygon, remarked:

"The hits don't stop! Another significant MATIC announcement. I'm happy to announce that Polygon and Reddit have teamed to power the platform on-chain. We're continuing to work with the largest web2 companies, gaming, sports, and fashion brands."


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Written By

Petrache Ionut

Jul 13, 2022