Should you buy MATIC after BitPay adds support for the cryptocurrency?

By:
on Oct 27, 2022
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  • BItPay added support for the Polygon (MATIC) network on top of its services.
  • BitPay app users are able to store, trade, and spend MATIC.
  • The value of the MATIC cryptocurrency has jumped 21% in the last seven days.

The crypto payments processing company BitPay now supports the Polygon protocol.

Polygon (MATIC/USD) is one of the largest Proof-of-Stake (PoS) based, Layer-2 Ethereum (ETH/USD) scaling solutions out there that was originally launched in October of 2017.

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Since its time in the crypto space, it has made a huge impact, and all of this is powered by its native cryptocurrency known as MATIC.

The BitPay support as a catalyst for growth

When we look at the latest crypto news, on October 26, 2022, BitPay made an announcement that they would begin supporting the Polygon (MAITC) cryptocurrency.

Based on the report, BitPay users can buy MATIC, store and swap it within the BitPay Wallet directly, and spend it in BitPay Merchants, or even load it into the BitPay Card.

They also outline the use cases surrounding MATIC, where they highlighted its benefits, such as lower fees when compared to Ethereum alongside quicker transaction speeds. 

Should you buy Polygon (MATIC)?

On October 27, 2022, Polygon (MATIC) had a value of $0.9277.

MATIC/USD Chart by Tradingview.

The all-time high of the Polygon (MATIC) cryptocurrency occurred on December 27, 2021, when it reached a value of $2.92. Here we can see that at its ATH, the token was $1.9923 higher in value, or by 214%.

When we go over the token’s 7-day performance, Polygon (MATIC) had its low point at $0.789731, while its high point was at $0.959249. Here we can see that the token saw an increase in value of $0.169518 or by 21%.

When we look at how it performed in the last 24 hours, its low point was at $0.926034, while its high point was at $0.963312. Here we can see an increase of $0.037278 or by 4%.

Investors looking to buy MATIC might want to consider doing so soon, as it can climb to $1 by the end of October 2022.

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