MATIC, the native token of Polygon, an Ethereum sidechain, is ripping higher, mirroring the general performance across the crypto scene, spearheaded by Bitcoin (BTC). As of November 9, MATIC is up roughly 5% in the past 24 hours and inching closer to July 23 highs, looking at the candlestick arrangement in the daily chart. This upswing is at the back of rising trading volume and improving sentiment, which has seen the token expand 64% from October lows, a net positive for optimistic traders. The 110 Million MATIC Grant Looking at events in the past few trading days, the MATIC rally seems to have been catalyzed by Polygon Village’s recent announcement. The team said it plans to distribute 110 million MATIC to projects aiming to deploy decentralized finance (DeFi), gaming, and social media solutions on the sidechain. Related Reading: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF Polygon said late-stage projects can receive direct grants of up to 2 million MATIC. Meanwhile, early-stage projects and startups, can apply via quadratic funding grants. In this funding arrangement, the amount of MATIC sent to a proj ..
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