Bittime - Recently, there has been a noticeable stagnation in the growth of active addresses using MATIC. This is in contrast to the steady increase seen just weeks earlier.
Check Today's Crypto Market:
Sales by the Pope?
Whales (investors with large crypto holdings) have continued to reduce their MATIC holdings in the last two weeks. This may cause price instability (volatility) in the future. The number of addresses with at least 1,000,000 MATIC also decreased.
Also read: What is a Whale in Cryptocurrency?
Impact on Price?
This situation, coupled with a weak support level (the lowest price a crypto asset tends to hold), could exacerbate downward pressure on MATIC price, possibly leading to a further decline.
Also Read How To Buy Crypto:
Previous Trend: Increase in User Activity and Price
Between February 13 and March 7, the number of Daily Active Addresses using MATIC saw a significant increase, rising from 2,468 to 3,275.
This shows quite rapid growth, namely 32.70% in just three weeks.
However, this growth momentum started to weaken after March 7, as evidenced by the downward trend in the 7-Day Moving Average shown in the chart.
Historically, there has been a correlation between an increase in daily active addresses and MATIC price movement.
Check Crypto Prices Today:
What does it mean?
With the recent stagnation in daily active address growth, this hints at a possible period of price stabilization for MATIC.
Trends like these suggest that after a period of significant activity, MATIC price may be entering a more stable phase, potentially reducing volatility in the near term.
How to Buy Polygon (MATIC) on Bittime
You can buy and sell Polygon (MATIC) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Polygon (MATIC) is available on Bittime with the market pair MATIC/IDR . To be able to buy MATIC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Polygon (MATIC) on Bittime .
Monitor the price chart movements of Polygon (MATIC) , Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also
El Salvador Strengthens Bitcoin Fortress: Physical Vaults Protect the Nation's Digital Assets
BTC/USDT: Correction to $67,000 in Early Asia, Bullish Momentum Stalls?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.