Why did the MATIC cryptocurrency rise so strongly?

MATIC

The MATIC digital currency achieved strong gains during trading today, Thursday, due to some positive developments in the markets, which supported the high demand for the currency and reinforced its gains in the cryptocurrency markets.

During trading, the MATIC coin rose by 14.40% and recorded about $0.6340, with a daily trading volume of $1,295,129,359, bringing the value of MATIC to $5,076,404,707, and it occupies the 17th place among the most popular digital currencies in terms of market capitalization.

MATIC has benefited from the announcement by entertainment giant Walt Disney on Wednesday that about six companies will join the 2022 Disney Accelerator program, and that among the companies involved is Polygon, where the business development program is designed to accelerate the growth of innovative companies.

According to the announcement, Disney will focus on emerging technology in the virtual world this year, including metaverses, augmented reality (AR), non-fungible tokens (NFTs) and artificial intelligence (AI) characters, as Disney has selected Polygon for its scalable properties, allowing developers to build Web 3 experiences, which boosted MATIC’s market rally.

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