Can MATIC increase in value after Spritz Finance bill pay beta launch?

By: Milko Trajcevski
Milko Trajcevski
Milko is a Financial Analyst covering the cryptocurrency markets. He started his career trading fiat currencies before immersing himself… read more.
on Jun 15, 2022
  • Spritz Finance will let users pay for their bills through the utilization of cryptocurrencies.
  • This will occur through the utilization of the Polygon (MATIC) network.
  • This movement will initially start in the United States only.

Polygon MATIC/USD is essentially an Ethereum scaling and infrastructure development solution.

It features a Polygon SDK, which is a modular framework intended to support a variety of different types of applications. 

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Through Polygon, developers can utilize optimistic rollup chains, ZK rollup chains, stand-alone chains, or anything else that they require.

All of this is powered by the MATIC token, which is the native cryptocurrency that’s used to secure the system and enable governance.

The Spritz Finance utilization as a catalyst for growth

Spritz Finance is a Web3 personal finance platform, and decentralized finance (DeFi) users will now be able to pay their bills through the usage of cryptocurrencies through it. This was announced through an official publication on June 14, 2022.

The company has launched a closed beta for its bill pay product, which became an availability for all Polygon Network users.

However, this will initially start only for users in the United States.

The Polygon (MATIC) network was chosen due to the fact that it creates numerous opportunities for Spritz customers to earn more on-chain and generate passive income streams through decentralized finance (DeFi), play-to-earn (P2E) games, and NFTs, alongside their metaverse assets.

All of this will be connected through Spritz and can be used to pay off monthly expenses, such as utilities, credit cards, student loans, or even subscriptions.

A development such as this one has the potential to boost the value of the MATIC token, and we are going to go over by how much.

Should you buy Polygon (MATIC)?

On June 15, 2022, Polygon (MATIC) had a value of $0.3641.

To get a better perspective as to what kind of value point this is for MATIC, we will go over its all-time high, as well as its performance throughout the previous month. 

Polygon (MATIC) had its all-time high on December 27, 2021, with a value of $2.92.

When we take a look at its performance throughout the previous month, Polygon (MATIC) had its highest point of value on May 5 at $1.1832.

Its lowest point was on May 12 at $0.5406. Here we can see a decrease of $0.6426 or 54%.

With this in mind, $0.3641 provides a solid opportunity for the MATIC cryptocurrency, as with the Spritz Finance utilization, it can reach new heights and climb to $0.8 by the end of June 2022.

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*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.