How far can MATIC climb as Polygon works with Shopping.io to integrate it for payments?

By:
on Oct 5, 2022
Listen to this article
  • On October 4, 2022, Shopping.io announced the integration of Polygon (MATIC) as a form of payment.
  • This will enable holders to buy goods through the biggest retailers, such as Amazon, eBay, and Walmart.
  • In the last 7 days, the value of the MATIC cryptocurrency has seen an increase of 16%.

Polygon has begun working with Shopping.io as a means of integrating the MATIC cryptocurrency as a form of payment on the platform.

Polygon (MATIC/USD) is essentially a platform purpose-built to scale Ethereum (ETH/USD) and provide an infrastructure on top of which developers can create numerous decentralized applications (dApps). 

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

It features the Polygon SDK, which is a modular and flexible framework that powers the growth of Decentralized Finance (DeFi), where anyone can create optimistic rollup chains, ZK rollup chains, and standalone chains.

Polygon stands out due to the fact that it offers quick transactions and low fees whilst also maintaining the ability of smart contract creation, dApps and games. 

The Shopping.io integration as a catalyst for growth

In the latest Polygon news, on October 4, 2022, Shopping.io made an official announcement that they will be integrating MATIC as a form of payment on the platform.

Additionally, with this launch, they will also offer a 2% discount for the first 30 days as well as free shipping for the first 7 days with every use of the cryptocurrency.

From October 4, MATIC will be added to Shopping.io’s payment processor, known as Shopping Pay, and this will, in turn, allow holders to purchase goods through the utilization of the biggest retailers.

Some of the most well-known retailers that can be used include Amazon, eBay, Walmart, and Home Depot.

This integration will offer MATIC a higher level of utility outside of its own blockchain and provide the token with another level of intrinsic value.

This means that we can expect the MATIC cryptocurrency to increase in value going forward.

Should you buy Polygon (MATIC)?

On October 5, 2022, Polygon (MATIC) had a value of $0.8298.

MATIC/USD Chart by Tradingview.

The all-time high of Polygon (MATIC) was on December 27, 2021, at a value of $2.92. Here we can see that at its all-time high, MATIC was trading $2.0902 higher in value or by 252%.

When we go over its performance throughout the week, Polygon (MATIC) had its low point of value at $0.724419, while its high point of value was at $0.844798. This marked an increase in value of $0.120379, or 16%.

In terms of the 24-hour performance, Polygon (MATIC) had its low point at $0.825235 and its high at $0.844798. Here we can see an increase of $0.019563 or 2%.

With this in mind, investors might be interested in buying MATIC as it can climb to $1 by the end of October 2022.