Can Polygon (MATIC) Price Reach $2 ⁉️🔥🔥

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Polygon price reclaimed the $0.90 territory on Nov. 14, bringing its monthly gains to 15%. On chain and derivatives data analytics identify the critical bullish indicators that could shape MATIC’s next major price move. 

MATIC has held onto its position as one of the biggest gainers in November’s top 20 crypto market gainers charts. Polygon community positive reaction to the recent collaboration with OKX could further propel MATIC’s price. 

On November 14, OKX announced the launch of X1, a New zKEVM layer-2 network built with Polygon CDK. Although the project is still only in testnet, MATIC holders sprung into action to front run the possible gains from expanded scalability and increased adoption.

Shortly after the announcement. MATIC market price broke above $1 for the first time in nearly four months. However, following further inquest, onchain data shows that the recent MATIC price rally could be attributed to the increase in network usage.

Polygon network transaction count is currently trending at its highest level since September 28.