Reserve

Polygon

Coin

<ul class="news-points">
 <li>MATIC’s bearish trend persists despite the Polygon 2.0 upgrade, reflecting profit-taking and hesitant derivative investors.</li>
 <li>Falling market cap and trading volume signal waning investor confidence in MATIC’s current price.</li>
 <li>Overbought conditions and lack of buying activity may lead to further MATIC price decline.</li>
</ul>
The <a href="https://coinedition.com/tag/polygon-matic/" rel="noopener noreferrer nofollow">Polygon (MATIC)</a> market has witnessed significant adverse sentiment in the recent 24 hours, with prices plummeting to an intraday low of $0.5458 despite the launch of the Polygon 2.0 upgrade.
Consequently, MATIC was trading at $0.5543 at press time, down 1.44% from its intraday high. The adverse attitude might be linked to profit-taking by investors who may have expected a price increase due to the upgrading.
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><img decoding="async" src="https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2.png" alt="" class="wp-image-341245" style="width: 100%;height:609px" width="711" height="609" srcset="https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2.png 737w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-300x257.png 300w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-380x325.png 380w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-104x89.png 104w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-520x445.png 520w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-288x247.png 288w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-280x240.png 280w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-193x165.png 193w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-246x211.png 246w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-82x70.png 82w, https://coinedition.com/wp-content/uploads/2023/10/Matic-1-2-88x75.png 88w" sizes="(max-width: 711px) 100vw, 711px">
 <figcaption class="wp-element-caption">MATIC/USD 24-hour price chart (source: <a href="https://coinstats.app/coins/matic-network/" target="_blank" rel="noopener noreferrer nofollow">CoinStats</a>)
 </figcaption>
 </figure>
</div>
Furthermore, Polygon’s Binance Funding Rate went red, suggesting that derivatives investors hesitated to purchase MATIC at its present price. Furthermore, the growing Exchange Reserve indicates more significant selling pressure on the token as more investors deposit MATIC tokens into exchanges, presumably suggesting a willingness to sell.
With a decrease of 1.46% and 18.80%, respectively…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/matic-price-dips-despite-polygon-2-0-upgrade-hype/">MATIC Price Dips Despite Polygon 2.0 Upgrade Hype</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

MATIC Price Dips Despite Polygon 2.0 Upgrade Hype

Coin Edition

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