The price of MATIC added 17%, allowing the token to take 14th place in the overall ranking
Polygon (MATIC) is up 16.8% in the last 24 hours, with many other altcoins also recording double-digit gains thanks to Bitcoin's price jump to $47,400.
According to CoinGecko, MATIC is currently trading at $0.95. As a result of this growth, Polygon's market capitalization exceeded that of Chainlink (LINK) and pushed the cryptocurrency out of 14th place in the overall cryptocurrency ranking.
The rise of MATIC can be attributed to several factors. The most important of these can be considered the growing interest in the Polygon ecosystem based on Proof-of-Stake (PoS). On January 9, cryptanalyst Lark Davis reported that active addresses on the Polygon network were outperforming Solana (SOL) addresses.
