Polygon (MATIC) has proven to be a highlight performer over the past week, and as it flips Dogecoin, it could be aiming to surpass Cardano next. Bitcoins’ rise to surpass $25,000 has impacted the industry as a whole, but no one has seen the gains that MATIC has seen through its 21% rise in seven days.
The heights that MATIC has hit in the last week already have it passing the world’s most popular meme coin by market cap. Now, the token is aiming to surpass Cardano (ADA) as it continues its climb. Conversely, only time will tell whether or not the current climb is sustainable.
MATIC Flips DOGE with ADA on the Horizon
When the SEC set out on its crusade against the digital asset industry, many thought the worst of the market’s response. Contrarily, there have been positives in terms of the movement of most digital assets, including Bitcoin, which broke through the $25,000 price point.
One of the biggest performers alongside the world’s most prominent crypto has been Polygon (MATIC), which has already flipped Dogecoin and could be setting its sights on Cardano. Currently, MATIC is firmly slated as the ninth-largest cryptocurrency by market cap.
Bitcoinist notes that the “ZK Sync narrative,” has done well to help the digital asset rally to its one-year high. Subsequently, a winning streak for the crypto has ensued that saw it surpass the world’s most prominent meme coin. Currently, MATIC is at $13.1 billion in market cap, ahead of Dogecoin’s $11.7 market cap.
Polygon currently sits along both Binance USD and Cardano ADA. BUSD has undoubtedly had a negative few weeks, with regulatory issues surrounding stablecoin issuer Paxos. Thereafter, the stablecoin lost roughly $3 billion due to the news, making it a potential passable token for Polygon.
Cardano is the crypto that MATIC could be seeking to surpass next, sitting as the seventh-largest crypto. ADA’s market cap is sitting at $14.5 billion, a mere $1 billion ahead of Polygon, and potential within striking distance.