Stock and cryptocurrency trading platform Robinhoodannounced that it has added support for deposits and withdrawals using MATIC on the Polygon blockchain. The Layer-2 blockchain solution makes it possible for users to process transactions faster than Ethereum, as well as at more affordable prices. Moreover, users can now transfer MATIC on the Robinhood platform without paying a bridge fee.
Koinfinans.com As we have announced, Traders can benefit from this development. polygon price It may try to reach the $1 level within a certain period of time.
Commission-free trading app Robinhood is on the Polygon blockchain, according to an official announcement on Sept. MATIC announced that it has started depositing and withdrawing funds for
Hamzah Khan, head of DeFi at Polygon, said:
“We are very pleased that Robinhood offers on-chain support for MATIC deposits and withdrawals, further enhancing its impressive suite of integrated services, providing access to the Coinbase wallet and Metamask.”
Robinhood users can now use MATIC tokens to perform various tasks such as lending, borrowing, providing liquidity and clearing on the Polygon PoS chain. More than 37,000 dApps on Polygon such as AAVE, Uniswap, and Balancer allow users to explore multiple use cases.
Robinhood announced in mid-April that it had listed Polygon’s MATIC token, along with other tokens such as Compound (COMP), Shiba Inu (SHIB), and Solana (SOL). This allowed users to save on transaction fees and eliminate long confirmation times. The Ethereum Layer-2 scaling solution Polygon provides lower gas fees and higher throughput without sacrificing security.
Polygon Price Strengthens
Polygon (MATIC) continues to show strength, while other cryptocurrencies continue to take damage amid growing selling pressure. Currently, MATIC price is trading at $0.83. The price rallied above 3% in the last 24 hours and from 10% support in a week to $0.75.
MATIC price could retest $1 if it rises above the $0.85 resistance. However, traders may have to wait a little longer as the price is trading in the $0.75-0.83 range. Robinhood’s MATIC support seems to have had an impact on the uptrend.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.