Polygon

Coin

<ul class="news-points"> 
 <li>Nansen Research shared that there has been multiple bullish developments for MATIC over the past 24 hours.</li> 
 <li>There has been a notable increase in MATIC accumulation from whales and institutional investors.</li> 
 <li>Over the past 24 hours, MATIC’s price fell by more than 7%, which left it trading at $0.6262.</li> 
</ul> 
There have been multiple bullish developments for <a href="https://coinedition.com/tag/polygon-matic/" rel="noopener noreferrer nofollow">Polygon (MATIC)</a> over the past few days, according to an <a href="https://research.nansen.ai/articles/today-on-chain-large-dex-purchases-and-matic-accumulation" target="_blank" rel="noopener noreferrer nofollow">article</a> on Nansen Research’s official blog. Although the reasons for these positive developments could be endless, many in the industry believe it is partly due to Polygon’s decision to shift to a ZK-focused ecosystem. 
One of the bullish on-chain indicators identified by Nansen is the fact that, over the last 24 hours, significant acquisitions have taken place on decentralized exchanges (DEX), the most substantial of which involved a purchase of 10 million MATIC tokens. This pattern implies that institutional traders are amassing MATIC tokens, which could be a bullish signal. 
Furthermore, there has been a notable rise in the accumulation of MATIC tokens by whales and substantial addresses. This trend implies that these investors have a positive outlook o… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/polygon-matic-sees-massive-increase-in-bullish-developments/">Polygon (MATIC) Sees Massive Increase In Bullish Developments</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Polygon (MATIC) Sees Massive Increase In Bullish Developments

Coin Edition

Other articles published on Aug 16, 2023

El-Salvador’s Bitcoin-Bond Market Attracts Wall Street Skeptics Including JPMorgan and Eaton Vance

Citigroup Stock Price Declines 10% in a Month: Will it Continue?

Will BONE Bury SHIB? Shibarium Launch Sparks Existential Crisis

Intella X Explores Ways to Integrate YGG’s Soulbound Reputation Tokens into Its Wallet

Expert Identifies MakerDAO (MKR) Sell Signal After 173% Bullish Run

Dogecoin (DOGE) Metrics Signal Extreme Apathy

Join our free newsletter for daily crypto updates!