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What&#39;s been happening with MATIC lately? The ups and downs in its price have caught people&#39;s attention, and there&#39;s a lot to unpack – from what&#39;s driving these fluctuations to how investors are feeling about it all.Related: <a href="https://hodl.fm/polygon-matic-anarchy-crypto-drama-matic-ana" rel="noopener noreferrer nofollow">Polygon’s (MATIC) Price Slump: A 50% Loss in 2023 Fuels Analysts’ Call to Embrace Anarchy (ANA)</a>The token dropped to $0.85, but then recovered after the Polygon team offloaded a few tokens. Prices could soar up to $0.96 if the bullish momentum holds. According to a <a href="https://twitter.com/spotonchain/status/1757632475927601656?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1757632475927601656%7Ctwgr%5E3538b0d5cdc46dc007d6c5079545af67370d50b9%7Ctwcon%5Es1_&amp;ref_url&#61;https%3A%2F%2Fambcrypto.com%2Fhow-polygon-foundation-can-affect-matics-growth%2F" rel="noopener noreferrer nofollow">recent update from Spot On Chain</a>, the Polygon fund (MATIC) sent 9 million tokens to Binance (BNB). According to chain tracking platforms, this was the second time in the last five days that Polygon unloaded MATIC. The first transaction involved a hefty $13.2 million transfer to the same exchange.Usually, when such large transfers occur, the cryptocurrency price drops due to the pressure from sellers. So, the swift recovery of MATIC suggests that the buying pressure outpaced the sellers&#39; actions. If that&#39;s the case, then it means that some other things were happening in the chain.This prompted checking out Polygon&#39;s volume. <a href="https://app.santiment.net/charts/vtg8VPLj__sCl" rel="noopener noreferrer nofollow">Using Santiment data</a>, a spike was noticed. At the time of writing, this indicator surged to 361.49 million. Coupled with the price action, the increasing volume could serve as a force of direction.<h3 id="read-more-on-a-href-https-hodl-fm-polygon-matic-price-analysis-rel-noopener-noreferrer-nofollow-hodl-a">READ MORE ON <a href="https://hodl.fm/polygon-matic-price-analysis" rel="noopener noreferrer nofollow">HODL</a></h3>

MATIC Token Might Undergo Bullish Growth in 2024

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Ďalšie články zverejnené 15. 2. 2024

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