Polygon’s DeFi space shows growing anticipation: how will MATIC react?

  • MATIC flipped SHIB to become the most traded token among whales.
  • MATIC’s weekly chart is green and market indicators point to further price gains.

polygon [MATIC] It has shown growth in the DeFi space in the past and has several new integrations that help improve the network’s offerings and capabilities.

Realistic or not, here it is MATIC Market Cap of BTC Clause

According to the official announcement on February 4th, the launch of Dopex on Polygon brought Atlantic Straddles and SSOV (Single Staking Option Vaults) to the DeFi ecosystem. Polygon said the launch is a step forward for his Dopex, allowing the platform to reach a wider audience and give users more opportunities to take advantage of its innovative features.

Matic reacts

Polygon’s growth in the DeFi space was further evidenced by looking at DeFiLlama. data, Total Value Locked (TVL) has gained momentum since the beginning of the year. MATIC prices also reacted positively to these developments, painting their daily and weekly charts green.

street coin market capitalization, MATIC has risen by more than 3% and 6% over the past 24 hours and past week, respectively. At the time of writing, the market cap exceeded his $10.7 billion, trading at $1.23.

increase of maticprice may have played a role in the token’s resurgence in popularity among whales. WhaleStats Reveals MATIC Has Flipped Shiba Inu [SHIB] Become the most traded token in the top 100 ethereum [ETH] Whale.

MATIC’s MVRV ratio registered a rise and looked optimistic while prices rose. MATIC’s popularity has grown in step with its social dominance. In addition, the profit of MATIC’s daily on-chain trading volume also increased. This may be due to recent price increases.

Source: Santimento

However, CryptoQuant’s data We have identified some indicators of concern. for example, maticNet deposits on the exchange were higher compared to the 7-day average, indicating strong selling pressure. Currency reserves also rose, proving again that selling pressure is building.

how much Today’s worth 1,10,100 MATIC?

Will the bull run continue?

MATIC’s daily chart painted a bullish picture as most market indicators favored continued gains. MACD has revealed that the bulls have the upper hand in the market.

MATIC’s Chaikin Money Flow (CMF) and On Balance Volume (OBV) were relatively high despite recording a small downtick.Bollinger Bands showed that maticThe price of is in a zone of high volatility, making it even more likely that the price will rise in the coming days.

Source: Trading View Polygon’s DeFi space shows growing anticipation: how will MATIC react?

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