The MATIC price makes investors smile and beam with confidence as it moves north. There is currently a huge demand for a further increase in the price of the cryptocurrency, as an experienced crypto analyst explained. Ali Martinez
Here is a quick overview of the coin’s performance:
- MATIC Price Down 1.8%
- Polygon sees an increase in unique wallet addresses or up to 50k purchased wallets.
- Price overtakes BTC and ETH
CoinMarketCap data show that The price of MATIC is currently trading at $1.24 and is down 1.81% at the time of this writing. Cryptocurrency has recently attracted great interest from investors.
Martinez said roughly 50,000 wallets were bought outright at $1.11, making this range critical for the token.
MATIC Eclipses BTC, ETH in Pricing
So far, MATIC has outperformed the leading coins Bitcoin and Ethereum in the value-for-money category. The is considered a lifesaver for MATIC, especially since he is facing some resistance.
The price of the coin increased by 54%, while BTC rose by only 43% and ETH by 37%.
MATIC also performed well last year, as evidenced by the boom in its NFT ecosystem. Polygon’s NFT transactions were especially booming in December 2022. In fact, Polygon has an amazing peak in its ATH in terms of NFT transaction volume on the OpenSea platform.
Image: Analytics Insight
Image: Analytics InsightInterestingly, in January 2023, MATIC surpassed the giant cryptocurrencies not only in price, but also in the growth in the number of buyers and the number of unique wallet addresses, which surpassed both ETH and BNB.
This phenomenal surge was caused by the launch of a number of projects on the Polygon platform, such as Lens Protocol, Reddit Collective Avatar and others.
MATIC has grown in terms of investor confidence and public opinion
That said, investors are optimistic, especially with Aespa, the popular K-pop group, partnering with Dematerialized and Paper Magazine at Polygon specifically for the digital capsule collection.
This collaboration is said to help make Polygon more visible, especially in the DeFi and Web3 space.
While MATIC is said to be falling as it fails to clear the $1.35 resistance level, rising investor sentiment and rising network events could help the token bounce back above the $1.19 support range.
MATIC Total Market Capitalization on Weekend Chart Hits $10 Billion | Diagram: tradingview.com
On the other hand, the strong influence of Bitcoin on Polygon could affect its announcement of breaking the resistance level. On the other hand, the crypto community has heralded the growth faith in MATIKboosting your positive attitude.
Moreover, MATIC bulls may dictate further price increases, especially with the emergence of both on-chain and off-chain development at Polygon, making it one of the best and safest investments in the DeFi and Web3 arena.
Featured image from DriveSafe Online
Credit : www.newsbtc.com
