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Polygon’s Clout and Bitcoin Hopium

Jun 15, 2021 · 3 min read

By Ashwath Balakrishnan, and Jeremy Ong

Market Update

BTC and ETH had been ranging from the Asia session into the London session, with a short bout of weakness emerging at New York open. As mentioned in yesterday’s daily, BTC currently sits near its range high and traders are awaiting confirmation of either bearish continuation or an uptrend over the next week.

Polygon Search Trend Erupts

Google trends indicates Polygon is garnering attention from retail users as 1.4 million searches were made for Polygon/MATIC in May alone. While “DeFi” and “Yield Farming” are growing in search volume as well, users are currently tilted towards Polygon. Given the barrage of liquidity mining programs on Polygon, this isn’t much of a surprise.

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