What’s Driving Polygon (MATIC) Price Rally In July 2023? – Crypto News – Crypto News
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What’s Driving Polygon (MATIC) Price Rally In July 2023? – Crypto News

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3 years ago

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Crypto Market News: Continuing the bullish momentum in recent months, Polygon (MATIC) price is reaping the rewards of the Polygon 2.0 initiative. With the expansion of the blockchain’s network capabilities, the matic price saw an impressive 5% rise over the last few days. In addition, traders have been showing resilience in holding their bags over the last 30 days.

Also Read: Standard Chartered Revises Bitcoin (BTC) Price Prediction To $50000, $120K In 2024

Recently, CoinGape Reported that the MATIC price could find support at $0.745, as against the current trading level of $0.73. Meanwhile, on-chain data showed signs that the cryptocurrency was witnessing rebounding network growth, which supports price growth.

MATIC Price – What’s Driving Rally

According to Santiment Insights, behind the mini bull run for the top 12 cryptocurrency’s price are rebounding network growth, decreasing supply on exchanges, and low profit taking, Another clear trend that supports the growth is the rise in the new MATIC addresses per day in the last 30 days.

“$MATIC is on a mini run today, with a +6% price rise in the past 8 hours. Some positive on-chain signs for the 12th ranked market cap asset include rebounding network growth, decreasing supply on exchanges, and low profit taking.”

Also Read: US Fed’s Michael Barr Proposes Changes To Bank Capital Needs, Bitcoin Surges

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Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com/BitcoinReddy

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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