Polygon

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<p class="is-style-lead">Polygon’s native cryptocurrency MATIC has defied the broader cryptocurrency market’s downward trend by surging 20% and surpassing the significant $1 level. </p> 
<p class="is-style-default">MATIC is currently trading at $1.05 and has seen a substantial 35% rise over the past week, posting a resurgence that been promisingly accompanied by a significant 176% increase in trading over the past day.</p> 
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 <img loading="lazy" decoding="async" width="898" height="495" src="https://crypto.news/app/uploads/2023/12/MATIC_1D_graph_coinmarketcap-2.png" alt="MATIC's 20% climb signals a bullish turn for Polygon - 35" class="wp-image-14231817">
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  MATIC price chart | Source: <a href="https://coinmarketcap.com/currencies/polygon/" target="_blank" rel="noopener">CoinMarketCap</a>
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<p>Increased volume aside, enthusiasts and investors in the Polygon community are now eyeing a $1.4 milestone price point for the token, seeking to surpass the peak price recorded in February 2023.</p> 
<p>When considering the charts presented by prominent market analyst Ali Martinez, it is an outcome that appears achievable. Martinez predicted that if the digital currency climbs above $0.96 it is likely to experience a rally potentially reaching as high as $1.73 before stabilizing.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Polygon</a> is on the verge of a breakout from a symmetrical triangle. A sustained weekly candlestick close above $0.96 could propel <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$MATIC</a> towards $1.73! <a href="https://t.co/IZQHpSuqO6" target="_blank">pic.twitter.com/IZQHpSuqO6</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1739699091829850405?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">December 26, 2023</a>
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<p> You might also like: <a href="https://crypto.news/polygon-publishes-proposals-to-replace-matic-and-enhance-infrastructure/"> Polygon publishes proposals to replace MATIC and enhance infrastructure </a> </p> 
<p><a href="https://crypto.news/tag/polygon/">Polygon’s </a>progress is rooted in continuous development efforts by Polygon Labs and the Polygon Foundation. These efforts have transformed the platform from a simple Ethereum-based layer-2 scaling solution to a significant player in the digital currency landscape.</p> 
<p>A key factor in this transformation is the launch of the <a href="https://crypto.news/polygon-labs-suggests-assisting-celos-transition-to-ethereum-layer-2-using-cdk/">Polygon CDK</a>, which has attracted significant attention and use from major industry players.</p> 
<p>Interestingly, the recent price surge follows the movement of a <a href="https://crypto.news/mark-cuban-reportedly-unstaked-and-moved-matic-holdings-to-coinbase/">substantial number of MATIC tokens</a> by billionaire <a href="https://crypto.news/tag/mark-cuban">Mark Cuban</a> to the <a href="https://crypto.news/tag/coinbase/">Coinbase </a>exchange.</p> 
<h2 class="wp-block-heading" id="growing-accumulation-by-matic-whales">Growing accumulation by MATIC whales</h2> 
<p>A growing pattern of accumulation has also been observed among large MATIC holders.</p> 
<p>Since Dec. 16, whale addresses holding between 1 million and 10 million MATIC have increased their holdings by more than 55 million tokens, with whales now possessing 930.97 million MATIC.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2023/12/Polygon-MATIC-Whale-Accumulation-1024x347.png" alt="MATIC's 20% climb signals a bullish turn for Polygon - 36" class="wp-image-14231819">
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  Source: Santiment
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<p> Read more: <a href="https://crypto.news/polygon-releases-update-matic-unmoved-as-investors-explore-alternatives/"> Polygon releases update, MATIC unmoved as investors explore alternatives </a> </p>

MATIC’s 20% climb signals a bullish turn for Polygon

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