Shiba Inu (SHIB) and Matic aka Polygon were the biggest crypto gainers of the day where both the altcoins rose more than 20% over the past 24-hours for two very different reasons. While the whole crypto market traded in green after a week-long consolidation and trading in red but Matic and SHIB outshined most of the top cryptocurrencies.
Matic, the most popular ETH layer 2 solution at the moment rose to a new all-time high of $2.70 late yesterday. The altcoin has built a bullish momentum in the run-up to Uniswap’s decision to migrate onto the Polygon network. The migration was finally completed earlier today driving the price of MATIC as well as UNI to new highs. MATIC has seen a minor retrace from its ATH of $2.70 and currently trading at $2.60.
UNI the native token of top decentralized exchange Uniswap also registered a 12% spike in price and currently trading at $16.58 after retracing from the daily top of $17.06.
Shiba Inu (SHIB) surges to weekly highs
Shiba Inu (SHIB), the popular meme currency also saw a trend reversal or sort after losing $0.00003 key support earlier last week. The altcoin surged to a new weekly high of $0.000038 before retracing below $0.000036. The altcoin is currently trading at $0.0003544 with a 5% surge over the past 24-hours.
The latest price surge for the meme currency is being attributed to a number of reasons especially after a couple of new listings. The altcoin was recently listed by Coinjar, the longest-running crypto exchange in Australia that would also allow for payments in SHIB.
Apart from that, the on-chain metrics have turned green for the altcoin again as whales have started to accumulate more SHIB. A couple of days back one Ether whale bought nearly 4 trillion SHIB tokens during the dip. The development activity has surged on the network as SHIB ventures into play2earn (P2E) NFT gaming,
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