As you may recall, Therapoid is using the Polygon blockchain for layer 2 on Ethereum to nearly remove the “gas” (transaction) fees driven by Ethereum.

That is, ScienceCoins are using Polygon for issuance and management.

Polygon’s native token is MATIC.  One might expect SCI to pair trade at some point with MATIC.

Here is some further background…

Polygon’s MATIC rallied 25% on the day after a series of announcements and product launches. On Wednesday Polygon announced the launch of Polygon ID integration. Polygon ID is a self-sovereign identity solution powered by ZK cryptography that brings huge potential for DAO governance, according to the company. 

Polygon, an Ethereum layer-2 scaling solution, has also recently claimed to have obtained a major carbon neutrality (a balance between emitting and absorbing carbon) milestone, which could be contributing to the price uptick. Polygon announced earlier this week that it had partnered with KlimaDAO (a decentralized collective of environmentalists, developers, and entrepreneurs) as part of its environmental initiative. 

Polygon’s 7-day price chart. (Messari)

Polygon’s MATIC has been trading in an upward trajectory over the past 7 days. 

Some analysts are also attributing MATIC’s recent rally to a few weeks of whale accumulation. Santiment, the on-chain data provider, tweeted that sharks and whales holding MATIC have been in a large accumulation trend for the last six weeks. 

“The tiers of holders ranging from 10K to 10M coins held have collectively added 8.7% more to their bags in this timespan,” tweeted Sanitment.

Matthew Dibb, COO and co-founder of Stack Funds, told CoinDesk that the rallies for MATIC, ATOM and AVAX are being held up on low volume. 

“Because of this we would expect that any decent drop in equities will lead to a selloff in alts,” said Dibb. 

He also noted that bitcoin dominance (BTC.D) has dropped considerably in the past few days from its high at +48%.

Dibb explained that this is because there has been relative strength in ether as well as litecoin vs. bitcoin which has led to BTC dominance losing some ground. 

“Our expectation is that should a further selloff occur, we will see BTC.D continue to head north to short term highs,” added Dibb. “We see this as a temporary situation."