MATIC price maintains positive outlook, Humanity Protocol launches on Polygon CDK

Source Fxstreet
  • MATIC price dipped slightly on Tuesday, hitting a low near $0.9600. 
  • The Human Institute announced the launch of Humanity Protocol, a project on the Polygon CDK. 
  • The protocol collaborated with Hong Kong-based firm Animoca Brands and Polygon for its latest initiative in AI. 

Ethereum’s largest scaling solution’s native token, MATIC, observed a slight decline in its price, hitting a two-day low of $0.9602 on Tuesday. In the past week, MATIC price yielded nearly 11% gains for holders despite falling in the past 24 hours. 

Humanity Protocol announced a new palm recognition technology for verifying individuals in Web3 and this initiative is in collaboration with Polygon and Hong-Kong-based gaming software developer Animoca Brands. 

Also read: Shiba Inu is likely on the brink of SHIB price rally as meme coin sees volume capitulate

AI project picks Polygon for rolling out new technology in Web3

According to an official announcement by Humanity Protocol on Tuesday, an AI-focused initiative to amplify human potential through the use of Artificial Intelligence (AI) has chosen Polygon CDK for the development of its latest offering. 

The Protocol identified a privacy-preserving alternative to invasive biometric methods and implemented it through a collaboration with gaming software development firm Animoca Brands and Polygon’s Chain Development Kit (CDK). 

The project leverages zero-knowledge proofs to boost privacy and enables secure identity verification without revealing personal data. 

MATIC price dips slightly ahead of rally towards $1.09 target

In the past day, MATIC price dropped nearly 2%, with the Ethereum scaling token sustaining above the 78.6% Fibonacci retracement at $0.9608. MATIC price is $0.9832 at the time of writing and the token is inching closer towards its 2024 peak of $1.0342. 

Two technical indicators, the Moving Average Convergence/ Divergence (MACD) indicator and the Awesome Oscillator (AO), are flashing green bars, supporting MATIC’s ongoing uptrend and signaling that there is positive momentum. 

MATIC

MATIC/USDT 1-day chart 

A daily candlestick close below the mentioned 78.6% Fib retracement level could invalidate the bullish thesis for MATIC. The Ethereum scaling token could sweep support at the 61.8% Fib retracement at $0.9031 before resuming its climb towards its 2024 peak. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Silver Price Forecast: XAG/USD falls to near $63.50 amid Fed hike bets, higher oil pricesSilver price (XAG/USD) loses its gains from the previous day, trading around $63.50 per troy ounce during Asian hours on Monday. Non-yielding Silver is currently facing significant headwinds driven by rising Federal Reserve (Fed) rate-hike expectations for the upcoming September decision.
Author  FXStreet
12 hours ago
Silver price (XAG/USD) loses its gains from the previous day, trading around $63.50 per troy ounce during Asian hours on Monday. Non-yielding Silver is currently facing significant headwinds driven by rising Federal Reserve (Fed) rate-hike expectations for the upcoming September decision.
placeholder
Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.
Author  Suzie
15 hours ago
A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.
placeholder
Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.
Author  Irene Q.
15 hours ago
Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.
placeholder
TradingKey Daily Market Briefing: CPI Data Boosts Rate Hike Expectations, Geopolitical Risks Spark Oil Price SurgeTracking Market TrendsTradingKey - The three major U.S. stock indices rose across the board last Friday, with the Dow Jones Industrial Average rising 0.98%, the Nasdaq Composite Index gaining 0.96%, a
Author  TradingKey
21 hours ago
Tracking Market TrendsTradingKey - The three major U.S. stock indices rose across the board last Friday, with the Dow Jones Industrial Average rising 0.98%, the Nasdaq Composite Index gaining 0.96%, a
placeholder
Gold Price Forecast: PPI and Oil Prices Fuel Inflation Concerns, Can CPI Change Gold's Direction?As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around
Author  TradingKey
Sep 11, Fri
As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around
Related Instrument
goTop
quote