The Super Bowl is coming up, and people in the blockchain industry are already getting excited. With a mega NFT mint, Polygon is taking advantage of both the hype and the opportunities that are out there.
Polygon recently announced that it has made over than 1 million Super Bowl NFTs.
In particular, we’ve seen MATIC’s involvement in the NFT segment grow a lot in the last few months. A result that didn’t come as a surprise since the network had already shown an interest in the NFT market.
Over 1 million @Reddit Super Bowl NFTs minted #onPolygon
— Polygon (@0xPolygon) February 10, 2023
Claim yours before the big gamehttps://t.co/1BPiBUJ92r pic.twitter.com/rbP5NH8mkY
According to the first reports, the network’s highest daily NFT trading volume was on OpenSea, where it was worth $11.4 million. There is no official word on whether or not the increase in the number of NFTs being traded is related to the Super Bowl, but it seems likely.
This is the volume on OpenSea, but on-chain, things are a little different. Polygon’s total NFT trades volume on-chain metric shows that on February 10, there was a lot going on. But the total volume on that day is still less than the monthly high for that month.
The same thing can be said about the total number of NFT trades. This means that there is a normal amount of on-chain NFT activity on the Polygon network.
How long will MATIC’s slowdown last?
MATIC hit a high of $1.35 earlier in the week. Then, SEC FUD caused a 9% decrease. But this setback was not too bad, which shows that MATIC is still in a strong position.
At press time, its price was $1.24, which was a small increase from the previous day. So, it’s clear that the bears haven’t been able to take control.
From its January lows to its most recent weekly high, MATIC was able to go up by 79%. This means that the crypto token is still one of the best ones to buy from the current 12-month highs among the top ones.
Also, looking at the data shows that MATIC bulls are likely to keep being the most popular for a while longer.
Overall, the mood right now, especially among MATIC whales, is bullish. This is based on an analysis of the supply distribution. In the last 24 hours, all of the top address categories from 100 million to 10 million MATIC have been adding up.
Well, based on what we’ve seen so far, the current mood seems to favor bulls. Even though this is true, there is still room for a sudden change in the market, which could send prices down.
Content Source: ambcrypto.com