MATIC Price Downtrend Halted As Google Cloud Joins Polygon Network

Google Cloud, the famend cloud computing service supplied by Google, has made a major transfer by turning into a validator on the Polygon (MATIC) community. 

This collaboration goals to bolster the safety of the Polygon Proof-of-Stake (PoS) community, with Google Cloud using its infrastructure, which powers well-liked platforms like YouTube and Gmail, to contribute to the community’s integrity.

Google Cloud Strengthens Polygon Community Safety

Polygon Labs, the staff behind the Polygon protocol, lately announced that Google Cloud has joined their validator set. This transfer brings Google Cloud into the fold of over 100 validators answerable for verifying transactions on the Layer 2 Ethereum (ETH) community supplied by Polygon. 

In an announcement shared on X (previously often called Twitter), Polygon highlighted the importance of Google Cloud’s involvement, emphasizing using the identical infrastructure that underpins YouTube and Gmail to safeguard the quick and cost-effective Ethereum-based Polygon protocol.

In accordance with the announcement, by becoming a member of forces with over 100 different validators, Google Cloud provides to the collective efforts to safe the Polygon PoS Community. 

Together with respected and security-focused validators like Google Cloud offers a further layer of confidence for Heimdall, Bor, and the Polygon PoS ecosystem customers.

The collaboration between Google Cloud and Polygon Labs extends past a validator partnership. It’s described as an ongoing strategic collaboration, indicating a long-term dedication to advancing the adoption and growth of Web3 applied sciences. 

As a part of their joint efforts, Google Cloud APAC released a YouTube video titled “Polygon Labs is fixing for a Web3 future for all,” additional underscoring their shared imaginative and prescient for a decentralized internet. The Google Cloud staff additional said: 

Is there a better approach to construct and develop Web3 merchandise? That’s the mission of Polygon Labs, and with the assistance of Google Cloud, it’s one step nearer to creating this imaginative and prescient a actuality. We at the moment are serving as a validator on the Polygon PoS community, contributing to the community’s collective safety, governance, and decentralization alongside 100+ different validators.

Total, the involvement of Google Cloud, a distinguished participant within the cloud computing trade, as a validator on the Polygon community brings elevated credibility and experience to the ecosystem. 

This collaboration is predicted to boost Polygon’s community infrastructure’s general safety and reliability, benefiting customers who depend on the platform for seamless and environment friendly blockchain transactions.

MATIC Breaks Free From 3-Month Downtrend

Polygon’s native cryptocurrency, MATIC, has efficiently damaged a 3-month downtrend that had pushed the token to succeed in a yearly low of $0.5040 on Wednesday. 

Nonetheless, up to now 24 hours, there was a notable rebound in MATIC’s value, experiencing a 1.7% surge and at the moment buying and selling at $0.5240. 

This upward motion is additional supported by the Squeeze Momentum Indicator, which has damaged the downtrend sample, indicating the initiation of a restoration part for MATIC since Friday.

It is very important word that MATIC’s ADX indicator shows a spike downwards, suggesting low volatility and a impartial battle between bullish and bearish forces within the cryptocurrency market.

Trying forward, MATIC faces obstacles across the $0.5442 zone, which it did not surpass on September 21. Conversely, if the uptrend continues, the following important hurdle lies at $0.5951 earlier than reaching the $0.6000 stage, which has not been achieved since late August.

The sustainability of MATIC’s uptrend and its potential to try in direction of its yearly excessive of $1,569, reached in February, stays unsure and would require additional commentary.

Featured picture from Shutterstock, chart from TradingView.com