The Open Interest of Polygon Futures Reaches a 3-month Record High

The price of MATIC, the native token of the Polygon ecosystem, rose to $1.12 on January 27, the highest value since November last year.

In addition, its market capitalization has increased by almost 15%, exceeding $9.46 billion.

Polygon has now displaced Solana from tenth place in the ranking of the largest digital currencies in terms of market cap.

According to CoinGlass data, the rally in the spot market has contributed to a sharp increase in interest in MATIC futures.

The amount of open contracts reached $228.628 million on Friday, the highest level since November 5. Contracts totaling up to $120.74 million have been deployed on Binance.