MATIC’s price remained constant despite major 2022 collaboration announcements.
The TVL for the Layer-2 network is standing at approximately $1 billion.
Bullish support is still present after MATIC’s price broke above the 9-day EMA line.
Polygon (MATIC), the Layer-2 crypto, had an interesting 2022 given its list of collaborations with well-known companies like Meta, Reddit, and Starbucks. Despite the significant developments, the price of MATIC remained somewhat dormant.
In a post made by the altcoin’s official Twitter page yesterday, Polygon highlighted the strength and stability of its Total Value Locked (TVL) compared to that of its rival chains. According to the chart shared in the post, its TVL was higher than Avalanche (AVAX) and Solana (SOL), which are two of the project’s closest rivals.
Statistics from DefiLlama also showed that the Polygon network had approximately $1 billion worth of TVL, which is a 0.78% climb over the last 24 hours.