Polygon [MATIC] can see volatile price move in near term- here's why
Polygon network continues to see impressive growth within its ecosystem. Just a day ago, the Polygon contract addressFollowing the significant development, the native token experienced key movements.Following the network, token unlock, mass awakening of MATIC addresses was observed on Santiment. Herein, a significant volume of dormant tokens changed addresses as the token’s age consumed rose to a massive high of 1.66 trillion.
Indeed, a useful metric for understanding the direction of the price movements. But this alone can’t be enough to get clarity.Consider this- the MVRV ratioThereby, showcasing a growing interest in the token. Also, showing that the token remains amidst an accumulation phase.According to data from whale monitoring service WhaleStats, the Ethereum whale splurged more than $14 million over the last few days.of $1.1 million in the flagship token, and later acquired another $1.
That being said, the probability of a downturn can’t be ruled out. Hence, traders/investors should be cautious before heavily relying on MATIC.Subscribe to get it daily in your inbox.
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