Polygon Partners with 0x in Crowdfunding Project to Expand Its User Base
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Polygon (MATIC) has announced a partnership with 0x, a decentralized exchange (DEX) protocol, to raise $10.5 million in funding to expand its user base.
According to a press release, the funds will support projects and developers on the Polygon network, ultimately resulting in the development of a secure and robust DeFi infrastructure. Polygon plans to attract at least one million new users to its network and the Ethereum blockchain.
The 0x API, which integrated Polygon a few weeks ago, is fabled for its easy-to-use nature. This functionality should eliminate the complexities of developing on-chain liquidity from scratch. That said, with Polygon’s recent integration of 0x, DeFi developers should easily connect to various DEX liquidity across all giant liquidity sources, including Curve Finance, Dodo Finance, SushiSwap, and Quickswap, thereby providing developers with more free time to focus on their product.
Meanwhile, the liquidity aggregator has processed over 1,000,000 trades from over 300,000 unique traders, representing over $27 billion in trade volume across Binance Smart Chain (BSC) and Ethereum.
Reports show that in May alone, Polygon processed close to three times more transactions than Ethereum. 0x recently noted that the project is on track to dethroning BSC’s five million monthly transaction volume.
Key Polygon Levels to Watch — June 11
As the broader market struggle with maintaining a steady bullish trajectory, MATIC appears to have fallen into a bearish spiral.
That said, the sixteenth-largest cryptocurrency is likely to post a significant rebound over the coming hours from the $1.3340 support, following the emergence of a double bottom pattern. At the same time, our MACD indicator shows that MATIC is in the middle of a change in trend, thereby bolstering our near-term bullish bias.
Meanwhile, our resistance levels are $1.4200, $1.4900, and $1.5280, and our support levels are $1.3340, $1.3000, and $1.2780.
Total Market Capitalization: $1.60 trillion
Polygon Market Capitalization: $8.7 billion
Polygon Dominance: 0.54%
Market Rank: #16
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