The First RenVM Bridge is now live on Polygon
2021, looks like a golden period for cryptocurrency. We have seen most of the major cryptocurrencies touching new all time highs. One of them is Matic, which has given over 9800% return in the past one year.
Lots of news and updates around Polygon making it more interesting and getting lots of attention in the global world. Indian based blockchain technology company Polygon has received a “sizeable investment” from US-based billionaire entrepreneur Mark Cuban, in lieu of its tokens.
Continuous development by the team is also making this more lucrative for the future. As per the recent announcement, the first RenVM Bridge is now live on Polygon.
RenVM’s first direct bridge will support Polygon, giving users the advantage of faster transaction confirmation times and lower fees. With this integration, the RenVM Bridge has added support for Polygon on its platform, enabling users to bring assets directly to Polygon.
MATIC Technical Analysis
According to Pankaj Tanwar, Lots of news and development is going around with Matic which is good for future growth but when we look at the chart in the short term with current market scenario, it looks like in an overbought situation. Major resistance zone is in between $2.5 to $2.7. Immediate support is at $1.5 and major support or entry zone is between $1 to $1.2. For a new entry, waiting for the dip will be a better option. Watch for important support and resistance and where to enter and exit in the short term.
Disclaimer & Suggestion : Please always do your due diligence before investing in any cryptocurrency or project. This should not be treated as financial advice.