Stock and crypto buying and selling app Robinhood has added help for deposits and withdrawals of MATIC tokens on the Polygon blockchain. The Layer-2 blockchain answer will allow customers to get pleasure from quicker transactions and decrease charges than Ethereum. Moreover, customers can now switch MATIC with out paying bridging charges on the Robinhood platform.
The Polygon help could push the MATIC to rebound to $1 as merchants will profit from the event.
Robinhood Adds Support for MATIC on Polygon Blockchain
Commission-free buying and selling app Robinhood has launched deposits and withdrawals for MATIC on the Polygon blockchain, as per an official announcement on September 1. In addition, customers can switch MATIC tokens by the Polygon community with out paying bridging charges on Robinhood.
Hamzah Khan, head of DeFi at Polygon, mentioned:
“We’re delighted Robinhood has introduced on-chain support for MATIC deposits and withdrawals, further enhancing their impressive suite of integrated services, enabling access to the Coinbase wallet and Metamask.”
Robinhood customers can now use MATIC tokens to carry out varied duties together with lending, borrowing, offering liquidity, and swapping on the Polygon PoS chain. More than 37,000 dApps on Polygon resembling AAVE, Uniswap, and Balancer allow customers to discover a number of use circumstances.
Robinhood just lately listed Polygon’s MATIC token in mid-April, together with different tokens resembling Compound (COMP), Shiba Inu (SHIB), and Solana (SOL). This allowed customers to avoid wasting charges and eradicate lengthy affirmation instances. Ethereum Layer-2 scaling answer Polygon allows decrease gasoline charges and better throughput with out compromising safety.
MATIC Price Shows Strength
Polygon’s MATIC is displaying energy whereas different cryptocurrencies proceed to tug amid rising promoting strain. Currently, the MATIC value is buying and selling at $0.83. The value jumped over 3% within the final 24 hours and 10% in per week from the help at $0.75.
The MATIC value can retest $1 if it breaks above the resistance level at $0.85. However, merchants could have to attend a bit of extra as the worth is buying and selling between the $0.75-$0.83 vary. Robinhood’s help for MATIC on Polygon is bullish for the worth.
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