Cryptocurrency Polygon's price is up by 27% in 24 hours. Here's why

Cryptocurrency Polygon Matic's price today rallied over 27% to $0.50 in the last 24 hours, as per CoinGecko

This trending token is up by 15% in the last 7 days, which had hit an All Time High of $2.92 on 27th Dec, 2021.

Recently, the Polygon's Matic network has achieved the Carbon Neutrality.  This has helped a token rising for almost 30% in a day. 

Polygon has made a first step toward becoming carbon negative with the retirement of $400,000 in carbon credits representing 104,794 tonnes of greenhouse gasses.

"Polygon reached carbon neutrality by partnering with KlimaDAO, a decentralized collective of environmentalists, developers, and entrepreneurs that is widely recognized as a pioneer in the nascent, on-chain carbon market," the company said.

The Polygon Network was originally called as the Matic Network, allows developers to create and deploy their own blockchains that are compatible with the Ethereum blockchain with a single click.

Polygon also enables other Ethereum-based projects to transfer data and tokens between one another using the MATIC sidechain


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