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POL (formerly MATIC) Breaks Out of Consolidation, Targets $1.30

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  • POL has risen nearly 30% in the past week, rebounding from a low of $0.1533, aligning with the bullish market sentiment.
  • The breakout follows weeks of consolidation, with Bitcoin’s rally past $94,000 boosting altcoins like POL.
  • Technical indicators show a confirmed breakout, with short-term targets around $0.36 and potential long-term recovery toward $1.30.

POL, the rebranded version of Polygon’s native token MATIC, is showing strong bullish momentum as it prepares for its next leg up. Over the past week, POL has climbed nearly 30%, signaling the start of a renewed uptrend. After hitting a recent low of $0.1533, the token rebounded sharply and is now aligning with the overall bullish sentiment sweeping across the crypto market.

Currently trading at $0.2481, the token holds a 24-hour trading volume of $187.9 million and a market capitalization of $2.57 billion. The recent price action comes after several weeks of tight consolidation, during which the token gradually built up pressure before finally breaking out.

POL 1D graph coinmarketcap
POL (formerly MATIC) Breaks Out of Consolidation, Targets $1.30 4

The breakout has been fueled in part by Bitcoin’s rally past $94,000, which has triggered a fresh wave of optimism among investors. With BTC setting new records, altcoins like POL are benefitting from the renewed market enthusiasm.

POL Bullish Momentum Builds, $1.30 Target in Sight

According to analyst ZAYK Charts, technical indicators support the bullish case for POL. A confirmed breakout from a descending channel pattern suggests the token has entered a new upward phase.

This pattern often acts as a strong reversal signal and adds weight to the recent price surge. Short-term targets are being set around the $0.36 level, while the broader outlook hints at a more substantial recovery.

image 242 2

Further supporting the bullish narrative Javon Marks highlighted the the confirmation of a regular bullish divergence on the charts. This pattern, which typically precedes significant trend reversals, suggests the potential for a larger rally. If momentum continues to build, the token could be looking at a long-term recovery toward the $1.30 zone, representing a move of over 395% from recent lows.

image 242 1

With technical patterns aligning and market sentiment favoring risk-on assets, POL appears well-positioned for continued growth. As attention shifts toward altcoins, the token may emerge as one of the key performers in the coming weeks.

Read More: Justin Sun Tops TRUMP Token List with 1.17M Coins, Sparks Dinner Buzz

MATIC & ONDO Market Momentum Fades as BitLemons ($BLEM) Takes Center Stage for Massive Gains

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By TokenIntel on February 13, 2025 | Market Insights

While major tokens face market turbulence, BitLemons ($BLEM) continues to capture investor attention with its revolutionary GambleFi protocol. As traditional gaming tokens struggle to maintain momentum, BitLemons presents a compelling case for early investors looking to tap into the $450B casino market.

Is BitLemons ($BLEM) Redefining the Future of Gaming?

BitLemons ($BLEM) has emerged as a standout performer in the gaming sector, having already secured an impressive $1 million in private seed funding. The platform’s innovative approach to revenue sharing has caught the attention of savvy investors, with 30% of Gross Gaming Revenue (GGR) allocated strategically – 15% for token buyback and burn mechanisms, and another 15% dedicated to staking rewards.

What sets BitLemons apart is its fully operational crypto casino infrastructure, already generating real revenue and disrupting the traditional casino market. With an attractive issue price of $0.01, early investors are positioning themselves to benefit from both the platform’s growth and its deflationary tokenomics.

Can MATIC Overcome Its Recent Market Struggles?

Polygon (MATIC) has experienced significant price volatility, with its value hovering around $0.32. Despite positive developments in its zkEVM ecosystem, the token has seen a modest 0.06% gain over the past week, with daily trading volume dropping to $6.67M. Technical analysis shows MATIC struggling to break past key resistance levels, though its market cap remains stable at $614.25M.

The recent upgrade to POL on Ethereum’s mainnet has created uncertainty in the market, leading to choppy trading patterns as investors digest the implications of this transition. Support levels around $0.295 have been tested multiple times, suggesting a period of consolidation may be necessary before any significant upward movement.

What’s Next for ONDO After Its Recent Volatility?

ONDO has shown resilience in recent trading, maintaining a price level of $1.38 with a slight uptick of 1.71% over the past week. Despite a healthy market cap of $4.36B, trading volume has declined by 1.62% to $315.14M, indicating some hesitation from traders.

The token’s technical indicators suggest a potential consolidation phase, with resistance at $1.47 proving difficult to breach. While ONDO’s real-world asset tokenization initiatives continue to draw attention, the immediate price action remains range-bound between $1.30 and $1.40.

Why Are Investors Flocking to BitLemons’ Innovative Platform?

As traditional gaming tokens face market uncertainty, BitLemons stands out with its clear value proposition and revenue-driven model. The platform’s deflationary mechanics, combined with high-yield staking opportunities, position it uniquely in the GambleFi sector. With the gaming market primed for disruption, BitLemons’ entry price of $0.01 represents a compelling opportunity for early investors.

Will you miss the chance to be part of the next revolution in gaming? BitLemons’ combination of proven revenue generation, strategic tokenomics, and market-ready platform makes it an unmissable opportunity for investors seeking exposure to the booming GambleFi sector.

Discover the Exciting Opportunities of BitLemons ($BLEM) Presale Today!

[Disclaimer: This is a sponsored article and is for informational purposes only. It is not intended to be used as legal, tax, investment, or financial advice.]

XRP Set for Dramatic Crash? Rising Wedge Pattern Sparks Alarming Forecast

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  1. XRP/BTC pair might face a sharp drop soon, influenced by the rising wedge pattern.
  2. Artificial movements with low volume suggest a possible bear trap in the market.
  3. XRP dominance shows bullish signals, hinting at an upcoming positive shift.

The XRP/BTC trading pair is on the verge of a significant move, as highlighted by recent observations. EGRAG Crypto pointed out that the market is currently adhering to a rising wedge pattern, a formation known for its bearish implications.

This raises speculation that the next several steps could be critical, and the price entering the “Area of Confirmation” may result in a sharp decline. Therefore, this potential decline might unfold within weeks and reach its Fibonacci targets at 1.272, 1.414, and 1.618 levels.

image 114

But that is not all when it comes to the predicted dip. It forms a five-wave structure: Wave 3 should complete the fall, then a retracement in Wave 4, and finally Wave 5. The final wave is expected to set the stage for significant gains, offering potential opportunities for strategic investors.

Artificial Moves Suggest Weak Hands Are in Control

As the detailed market cap analysis by EGRAG Crypto goes on to explain, the current price dump does not look organic at all. The volume profile is well below average, which means weak distribution and a lack of strong selling pressure involved. That fits the artificial market activity theory, in which movements are likely driven by smaller, less experienced traders rather than institutional players.

image 112

A low-volume dump so represents a bear trap, hence the market is due for its reversal. There was no organic sell pressure, hence the weak downward pressure cannot sustain for long, and as soon as the weak hand is out, it can allow a comeback bull.

image 112

Bullish Signals Emerge in XRP Dominance

While the upside movements for the XRP/BTC pair are looming threats, the leading position of the token in the cryptocurrency market has a better view. EGRAG Crypto pointed out that the ABC corrective wave has completed the zig-zag pattern and price has closed above the critical Fib 0.888 level.

Dominance indicators are strong, with the token managing to stay above the Williams Alligator moving averages and the 21 EMA. These indicators have given sufficient hints about the upcoming better position of the token in the market.

In history, whenever there is a fall in Bitcoin dominance, it usually has ended up in the better performance of altcoins like the token when liquidity flows to higher-risk assets.

With these bullish signals aligned, market participants could soon see XRP enter higher highs. This nuanced analysis underlines how important it is to keep a close eye on the signals of the market for the right decisions.

Related Reading : Experts Predicting Sharp Cardano Price Crash To $0.50; ADA Holders Switch To New Altcoin Nicknamed “XRP 2.0”

MATIC vs ETC: Could MATIC Go Up From $1 to $10 and Surpass ETC by 2025?

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Polygon (MATIC) and Ethereum Classic (ETC) are two altcoins that have made waves in the crypto space, each with its unique strengths and following. As MATIC showcases rapid ecosystem expansion and utility-driven adoption, many wonder if it could surpass ETC by achieving a staggering 10x growth to reach $10 by 2025.

In this competitive landscape, BeerBear ($BEAR) has emerged as a game-changing memecoin that combines fun, transparency, and massive ROI potential. Could MATIC’s rise mirror BeerBear’s innovative approach to community and value?

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MATIC’s Edge Over ETC

MATIC’s scalability, low fees, and robust developer ecosystem have positioned it as a favorite for decentralized applications (dApps). In contrast, ETC continues to face hurdles, including limited scalability and a smaller user base. As MATIC attracts institutional and retail investors alike, its path to a $10 valuation seems more achievable compared to ETC’s slower growth trajectory.

Conclusion

With its compelling fundamentals and growing adoption, MATIC appears poised to leap from $1 to $10, potentially overtaking ETC in the process. Similarly, BeerBear’s innovative blend of gamification, community focus, and ROI opportunities makes it a standout choice for savvy investors. The race is on — will you ride the wave of these potential champions?

Follow us:
Website: https://beerbear.io
Twitter/X: https://x.com/BeerBear_Meme
Telegram: https://t.me/beerbear_meme

MATIC’s Bullish Divergence Signals 300% Surge Towards New All-Time High: Report

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  • MATIC signals a 300% surge, with a potential new all-time high of $2.879, driven by bullish divergence.
  • Strong momentum continues as MATIC rises 12% in a week, backed by bullish technical indicators.
  • Rising demand in DeFi and NFTs strengthens MATIC’s position, paving the way for future price growth.

Polygon (MATIC) is indicating a massive breakout which is further backed by a bullish divergence. In a recent X post, Javon Marks points to this technical indicator as the largest ever seen for MATIC, which could mean one of the token’s best rises yet. The prediction shows that there is an probable increase of 300%, and coin may hit a new all-time high.

MATIC Breaks Resistance Levels

The bullish divergence suggests a powerful change in trend, with present patterns suggesting a major rise. Based on the analysis a price target of $2.879 which is close to three hundred percent premium to the current price of $0.77. 

The token has been following an upward trajectory, green candles, and increasing trading volume are a indicator of the bulls. Technical analysis strengthens the claim that MATIC is capable of breaking through the resistance and head towards $2.879. As of writing, token is trading at $0.7089, showing a 4.84% increase over the past day.

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Source: TradingView

Investor sentiment regarding coin is still very bullish. The token has been integrated into the decentralized finance (DeFi) and non-fungible token (NFT) systems and is still expanding. Polygon Layer 2 solution has gained much attention due to low transaction fees and high throughput, hence the high demand for coin. These factors will lead to further price appreciation as more projects and developers are adding their projects to Polygon’s network.

MATIC Eyes Massive Surge

However, the analysis underscore that for coin to sustain its upward trend, it has to hold above specific supports. The failure to do so could jeopardize the projected rally. Nevertheless, as long as the current trend will persist and the main support level will be held, such possibility is possible.

MATIC is primed for a massive move higher, with some excellent technicals and buying pressure driving the price higher. This implies that if the token can keep up this pace, then it may easily hit new highs, and in the event attract the attention of investors in the crypto market.

Polygon (MATIC) Token Transition Sparks Bearish Price Pressures

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Thе Polygon tеаm hаs bеgun migrаting thе MATIC tokеn to а nеw POL tokеn. This tokеn will now sеrvе аs thе nаtivе gаs аnd stаking tokеn for thе Polygon PoS blockchаin. Morеovеr, POL will аssumе аdditionаl rolеs, including block production, zеro-knowlеdgе proof gеnеrаtion, аnd involvеmеnt in Dаtа Avаilаbility Committееs.

Howеvеr, this trаnsition coincidеs with а pricе dеclinе for thе currеnt MATIC tokеn, which hаs fаllеn 2.87% in thе pаst 24 hours, currеntly trаding аt $0.37.

Crypto аnаlyst Ali Mаrtinеz hаs prеdictеd а bеаrish outlook for MATIC, citing а possiblе corrеction. Mаrtinеz highlights а dеscеnding triаnglе pаttеrn, typicаlly signаling furthеr pricе dеclinеs. Hе hаs mаrkеd $0.34 аs а kеy support lеvеl. If thе pricе fаlls bеlow this lеvеl, it could dеclinе furthеr to $0.19. On thе othеr hаnd, if MATIC stаys аbovе $0.34, а potеntiаl rаlly to $0.94 is possiblе.

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Source: Ali Mаrtinеz

Bearish Indicators Intensify for MATIC

In аddition, MATIC’s tеchnicаl indicаtors on thе 1-dаy chаrt rеinforcе а bеаrish outlook. Aftеr briеfly brеаking аbovе thе uppеr Kеltnеr Chаnnеl (KC) bаnd, thе pricе droppеd towаrd thе lowеr bаnd nеаr $0.38. This downwаrd shift indicаtеs fаding bullish momеntum аnd suggеsts ongoing sеlling prеssurе. Thе fаilurе to hold аbovе thе uppеr KC bаnd points to wеаkеr buying аctivity.

image 12
Source: TradigView

Additionаlly, thе Rеlаtivе Strеngth Indеx (RSI) stаnds аt 35.64, еdging closеr to ovеrsold lеvеls. Whilе it hаsn’t dippеd bеlow 30, which oftеn signаls ovеrsold conditions аnd potеntiаl buyеr intеrеst, thе currеnt rеаding rеflеcts incrеаsеd bеаrish sеntimеnt аnd а lаck of strong support for а rеbound, lеаving spаcе for furthеr dеclinеs.

Thе Moving Avеrаgе Convеrgеncе Divеrgеncе (MACD) supports а bеаrish outlook, аs thе MACD linе hаs crossеd bеlow thе signаl linе, signаling а sеll. Thе nеgаtivе histogrаm bаrs furthеr confirm thе growing downwаrd momеntum, pointing to а continuаtion of thе bеаrish trеnd without clеаr signs of rеvеrsаl.

On а slightly positivе notе, thе Chаikin Monеy Flow (CMF) indicаtor shows а vаluе of 0.06, suggеsting somе buying prеssurе in thе mаrkеt. This mаy providе limitеd rеsistаncе аgаinst shаrp dеclinеs, but thе ovеrаll tеchnicаl outlook rеmаins bеаrish. MATIC could fаcе furthеr downwаrd movеmеnt unlеss othеr indicаtors improvе.

Thе broаdеr mаrkеt sеntimеnt аround Polygon’s pricе prеdiction is аlso nеgаtivе. Coincodеx’s Fеаr & Grееd Indеx stаnds аt 29, rеflеcting fеаr аmong invеstors. Additionаlly, thе plаtform shows а clеаr imbаlаncе in tеchnicаl indicаtors, with only 5 pointing to bullish trеnds whilе 26 indicаtе bеаrish prеssurеs.

Related Reading | Hayes Predicts Bitcoin’s Fall to $50k Before Massive Rebound

MATIC to POL: The Polygon Network’s Bold Leap into the Future

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Polygon’s new evolution reached the point of deployment, which is a landmark in the blockchain’s progress. The long-awaited transition from MATIC to POL has been launched and comes with a lot of changes and enhancements for users across the network. After a year of intense community discussions and consensus-building, POL is now the native gas and staking token for all transactions on the Polygon PoS network.

Expanding POL’s Role in Polygon’s AggLayer Ecosystem

The Polygon team has just announced that starting today, every transaction on Polygon PoS will be done with POL, the newly upgraded token, instead of MATIC. Through this upgrade, Polygon demonstrates its increasing suitability for the role of an aggregator, or AggLayer, a type of blockchain network that aims to unify liquidity and state across multiple chains. This is not only a token switch; it shows a fundamental change in the way the network is built and scaled.

A MATIC user on Ethereum can easily handle this transition to POL through the Polygon Portal Interface, which executes a seamless 1:1 migration. However, MATIC holders on Polygon PoS will have an automatic upgrade, but it’s important that the users change the token symbol in their wallet’s network settings to reflect “POL” instead of “MATIC.” This small change is necessary to prevent any display malfunctions in wallet interfaces.

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The POL token is a new name and comes with new utilities and hyperproductive features that help secure and run the whole network. During the first phase, POL takes the place of MATIC as the gas and staking tokens, providing the necessary support for the transactions and network operations. Future phases, subject to community approval, will expand POL’s role within the AggLayer ecosystem, enhancing its utility across a more extensive network of aggregated blockchains.

The upgrade also brings about considerable changes in tokenomics. POL’s emission model adds 2% inflation over a decade as part of the emission model aimed at safeguarding network security and developing the community. Out of this emission, 50% will be deposited into the network PoS staking contract to compensate the validators, while the remaining 50% shall be deposited in a community treasury to provide funds appropriately to the builders under the prevailing governance system.

Related Reading | Hayes Predicts Bitcoin’s Fall to $50k Before Massive Rebound

Exciting Polygon Shift: 10B MATIC Becomes POL

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Polygon developers have officially launched the migration of the MATIC token to its successor, POL. After a year of intense discussions within the community, this transition marks a pivotal moment in the network’s journey toward becoming a ZK (Zero-Knowledge) chain and further integrating with AggLayer.

The POL token, now the native gas and staking currency of the Polygon PoS chain, retains the familiar tokenomics of MATIC, including a supply cap of 10 billion tokens. Exchanges are expected to swiftly list the upgraded token, enhancing its accessibility and trading volume. For MATIC holders on the Polygon PoS chain, the migration is seamless and requires no action. However, holders on Ethereum, Polygon zkEVM, or centralized exchanges must actively migrate their tokens via a dedicated contract.

A key aspect of this upgrade is the 1:1 exchange ratio from MATIC to POL, with an innovative emissions model that gradually increases by 2% over ten years. This approach is designed to foster sustainable growth, with continuous rewards for validators. “This emissions model ensures ongoing incentives, attracting new validators to the network,” the blockchain highlighted in their announcement.

Polygon Rebranding in Progress

POL’s introduction is more than a simple rebranding. It signals the blockchain’s broader ambitions to enhance its ecosystem. The new token will play a vital role in block production, zero-knowledge proof generation, and participation in Data Availability Committees (DACs). This expansion of functionality positions the network as a key player in the evolving blockchain landscape.

Polygon employs two primary scaling solutions, the sidechain known as Polygon PoS and the zero-knowledge rollup network, Polygon zkEVM. These solutions aim to consolidate liquidity and state across multiple chains, further solidifying the network’s role in the multi-chain universe.

Originally proposed in July 2023, the POL token was officially announced as the upgrade to MATIC on September 4, 2024. As this migration progresses, it will be crucial to monitor how POL performs in the market and how the expanded functionalities contribute to the network’s long-term success.

Rising Star ETFSwap (ETFS) Beats The Odds Against Ethereum (ETH) And Polygon (MATIC) As Investors Flock In

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ETFSwap (ETFS) is gaining traction in the cryptocurrency space, drawing investor interest with its coin offerings and solid performance. While Ethereum (ETH) and Polygon (MATIC) have long been the go-to options, ETFSwap (ETFS) is beating the odds to rank as the new preferred option. ETFSwap (ETFS) recent success is turning heads, indicating a shift in where investors are placing their best bets.

ETFSwap (ETFS): A Rising Star In The Crypto Space, Surpassing Established Leaders

ETFSwap (ETFS) is challenging Ethereum (ETH) and Polygon (MATIC) as a rising star in the crypto space, with its promise of most returns. Investors are betting on its ETFS success, believing that joining the early birds to buy the ETFSwap (ETFS) token in its ongoing presale could lead to life-changing wealth.

ETFSwap (ETFS) allows investors to use artificial intelligence (AI) tools such as the ETF Screener and ETF Tracker to predict market trends for trading ETFs. In addition to its advanced tools, ETFSwap (ETFS) rewards those who buy and stake its native tokens in liquidity pools, offering annual percentage rates (APR) as high as 87%. 

ETFSwap (ETFS)  is a platform that’s active 24/7, offering traders worldwide round-the-clock access and allowing participation in the ETF market without restrictions. Leveraging up to 10x on futures, perpetual, and various markets and up to 50x on all listed ETFs further enhances its appeal.

ETFSwap (ETFS) has employed various measures to prevent exploitation and enhance the platform’s security and transparency. For example, CyberScope has audited the platform’s smart contracts. Additionally, the team’s KYC verification was carried out by SolidProof, a top blockchain security firm that audited the platform. 

Ethereum (ETH): Faces Challenges, Struggling To Keep Pace With New Contenders In The Market

Ethereum (ETH), a leading decentralized blockchain known for its smart contract capabilities, is lagging behind ETFSwap (ETFS). Despite efforts to recover, Ethereum’s (ETFS) price is struggling and attempting to regain stability and reach new highs in the coming weeks. Recently, Vitalik Buterin, the Co-founder of Ethereum (ETH), made headlines by transferring 800 ETH to a multi-signature wallet. Analysis from Lookonchain shows that this wallet promptly converted 190 ETH into 477,000 USDC, which might signal upcoming financial maneuvers.

Ethereum (ETH) has dropped 9% over the past week and 23% over the last month, bringing its value down to around $2,500. Consequently, Ethereum (ETH) has also witnessed a drop in its market capitalization, which is currently just under $300 million. 

Polygon (MATIC): Faces Market Pressure, But Positive Indicators Suggest Potential Recovery

Polygon (MATIC), a ‘layer two’ or ‘sidechain’ solution that operates on the Ethereum (ETH) blockchain, is currently making way for new contenders in the crypto market. Designed to enable fast transactions and low fees, Polygon (MATIC) has faced challenges since the market retrace began in March. According to market intelligence platform Santiment, the recent increase in on-chain activity could signal a potential reversal for Polygon (MATIC). Santiment reveals that this includes a rise in active addresses and dormant coin spikes, often preceding market shifts.

At the time of writing, Polygon (MATIC) is trading around $0.41, having declined 25% over the past week and 17% over the past month. Investors are closely monitoring Polygon’s (MATIC) price chart for any signs of recovery. Polygon’s (MATIC) 24-hour trading volume has decreased by 10% to $255 million, while its market cap has dropped to $4 billion, placing it as the twenty-first largest crypto by market cap. 

Conclusion On ETFSwap (ETFS)

With all of the mentioned coin offerings, ETFSwap (ETFS) aims to become an all-in-one platform that caters to investors, enabling them to trade various ETFs. As excitement builds around the potential rally of the ETFSwap (ETFS) token, now may be the ideal moment for investors to buy in at the presale price of $0.01831, with the potential for substantial profits. 

Investors are flocking to purchase ETFSwap (ETFS) while its price is still selling for cheap, and its marketplace for ETFs is secure, offering massive gains in 2024.  

For more information about the ETFS Presale:

Visit ETFSwap Presale

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AD 4nXd6jjafkJM2sW25RHfM4kXgzhwTNuaiwvAXl JAM 1hf11QyW4HEoabRnIie7yZ44LsTgbOW2ZijsYn6LO2UerLEDCGaB1btj5TUOAQxsiJ9o YyT tN6m98cfUYXVRqk9l9gxiFve6QrkJOtpm MtYPDKG?key=xe9G9p2obh DWf2t4PMVsA

Polygon MATIC Eyes Potential Rebound Amidst Surging On-Chain Activity

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Polygon (MATIC), thе Ethеrеum scаling solution, hаs еxpеriеncеd а dеclinе in nеtwork аctivity sincе thе broаdеr cryptocurrеncy mаrkеt bеgаn its corrеction in Mаrch. Howеvеr, rеcеnt dаtа suggеsts а potеntiаl rеvеrsаl could bе brеwing.

Blockchаin аnаlytics plаtform Sаntimеnt rеportеd а significаnt spikе in on-chаin аctivity on thе Polygon nеtwork. Dаtа shаrеd on August 28 rеvеаlеd а substаntiаl surgе in аctivе аddrеssеs аnd dormаnt tokеn movеmеnts this wееk. This surgе coincidеs with thе sеcond-highеst numbеr of Polygon аddrеssеs intеrаcting with thе nеtwork this yеаr, indicаting incrеаsеd usеr еngаgеmеnt аnd potеntiаl bullish sеntimеnt.

image 51 6
Polygon MATIC Eyes Potential Rebound Amidst Surging On-Chain Activity 16

Thе rеcеnt incrеаsе in аctivity divеrgеs from thе ongoing downwаrd trеnd. According to dаtа from Polygonscаn, thе blockchаin еxplorеr, аddrеss аctivity hаs sееn а dеclinе sincе lаtе July, plummеting from 1.6 million to 700,000 by thе еnd of August. Similаrly, dаily trаnsаctions hаvе droppеd significаntly, from ovеr fivе million in Mаrch to аpproximаtеly thrее million in lаtе August.

MATIC Price Retreats Despite Activity Surge

Dеspitе thе rеcеnt surgе in аctivity rеportеd by Sаntimеnt, MATIC rеmаins firmly within а bеаr mаrkеt tеrritory. Thе tokеn еxpеriеncеd а short-livеd rаlly on August 25th, rеаching а two-month high of аpproximаtеly $0.58. Howеvеr, this momеntum couldn’t bе sustаinеd, аnd thе pricе quickly rеtrеаtеd.

As of August 29th, it hаd plummеtеd by 24% from its rеcеnt pеаk, rеаching а 10-dаy low of $0.437. This mаrkеd а furthеr 5% dеclinе ovеr thе pаst 24 hours. MATIC rеmаins а stаggеring 85% down from its аll-timе high of $2.92, rеcordеd in Dеcеmbеr 2021, аccording to dаtа from CoinGеcko.

MATIC dеclinе in vаluе mirrors а broаdеr downturn in thе cryptocurrеncy mаrkеt. Thе mаrkеt lеаdеrs, Bitcoin аnd Ethеrеum, hаvе аlso suffеrеd pricе corrеctions, contributing to thе ovеrаll bеаrish sеntimеnt.

Howеvеr, thе rеcеnt surgе in on-chаin аctivity could bе а sign of а potеntiаl pricе rеvеrsаl for MATIC. Sаntimеnt’s Agе Consumеd mеtric, which mеаsurеs thе movеmеnt of long-hеld tokеns, hаs еxhibitеd а significаnt uptick. This suggеsts thаt dormаnt MATIC tokеns аrе bеing rеаctivаtеd, а historicаl indicаtor of impеnding pricе fluctuаtions.

Furthеrmorе, thе Polygon nеtwork is undеrgoing а significаnt upgrаdе, аnd Binаncе hаs аnnouncеd its support for thе migrаtion from MATIC to POL tokеns. This upgrаdе is еxpеctеd to improvе thе Polygon tokеn’s functionаlity аnd could positivеly impаct its pricе.

Whilе thе short-tеrm pricе outlook rеmаins uncеrtаin, thе rеcеnt on-chаin аctivity suggеsts а potеntiаl shift in sеntimеnt for MATIC. Thе upcoming nеtwork upgrаdе аnd еxchаngе support could furthеr fuеl а pricе rеcovеry, but broаdеr mаrkеt conditions will аlso plаy а cruciаl rolе.

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