The latest data shows Polygon (MATIC) has surged 10% over the past 24 hours while the total crypto market cap rallies. According to data from Coingecko, the Total Crypto Market Cap (TCAP) is up by a massive 17.3%, which reflects the ongoing coin rallies across the market.

MATIC and many other altcoins saw a steady decline over the last week. However, since February 15, after the crypto market felt a relief, the coin began to retrace. As of yesterday, February 15, MATIC saw a 6.1% price increase, closing the day with $1.19 after a two-day straight decline. But what are the factors behind this price action? Let’s see.

Following historical data, MATIC is among the top-gaining coins, with a 30-day price increase of 33.1% and a 14-day rally of 13.4%. The recent seven days downturn in the entire cryptocurrency market didn’t seem to exert much effect on MATIC, as it still retains a 3.9% 7-day price gain. MATIC held most of its gains despite the notable price decline that hit the market.