The price of Polygon (POL) has suddenly registered a two-digit rally within the last 24 hours, coinciding with an uptick in the Non-fungible Token (NFT) ecosystem. The uptick led to the flip of a crucial resistance level for the digital asset. The Polygon ecosystem may be getting ready to enter a stronger bull era. POL Price and Key Metrics On the Rise CoinMarketCap data shows that POL is currently trading at $0.2831, following a 16.22% spike in value over the last 24 hours. This marks the highest increase that it has seen since early March. Also, this asset, which was previously known as MATIC, has increased by 16.09% in 7 days. Apparently, the sentiment surrounding POL is quite positive and could be attributed to an uptrend in the NFT ecosystem . Outstandingly, its 24-hour trading volume has outperformed that of other crypto assets at $642.56 million. This metric reached this value with a 268.73% increase within the period. This is a clear indication of strong traders’ engagement with the coin. POL market capitalization is also resting at $2.97 billion. Positive Sentiments in Polygon Ecosystem Market observers have spotted some improvements in Polygon’s ecosystem, offering data to substantiate their claims. CryptoSlam identified a 14% rally in NFT sales on the Polygon network. To put this in perspective, these sales literally went to $18.9 million in the last seven days, just around the same time when buyers soared 64% to 65,626. Courtyard, a popular NFT collection, has been picked as the major contributor to this growth, with $17 million in sales. Noteworthy, this value represents a 17% increase from its previous level. Even with the combined sales of CryptoPunks, DMarket, and Pudgy Penguin, Courtyard still surpassed all three. NFT Market Records Loss as ETH Price Dips The rebound in the NFT sector can not be overlooked; nonetheless, it has also faced some challenges in recent times. Around mid-August, the market recorded a loss of more than $1.2 billion in value in just a week. Analysts discovered that this was the same time when Ethereum (ETH) rally slowed. According to NFT Price Floor, total valuations of major collections tanked to around $8.1 billion in one day. A few days before then, this metric was trumping at $9.3 billion. Since that time till now, there have been significant improvements, and the Ethereum price is now at $4,465.59. The post Polygon Price Bags Double-digit Increase Amid NFT Ecosystem Boom appeared first on TheCoinrise.com .
