What MATIC Did After Polygon Foundation Responded To SEC's 'Security' Label
Portfolio Pulse from Mehab Qureshi
The SEC's crackdown on crypto exchanges like Coinbase and Binance has impacted various cryptocurrencies, leading some exchanges like Robinhood to delist certain tokens, including Polygon (MATIC). In response, the Polygon team emphasized the importance of MATIC for network security and its non-US focus. Social contributors related to MATIC are up over 50%, driving the price to $0.62, up 4% in the last 24 hours. TraderSZ predicts MATIC will hit $1.08 levels soon.
June 12, 2023 | 3:57 am
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NEGATIVE IMPACT
SEC's crackdown on crypto exchanges like Coinbase may lead to increased scrutiny and potential regulatory challenges.
The SEC's crackdown on major crypto exchanges, including Coinbase, may lead to increased scrutiny and potential regulatory challenges for the company. This could negatively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Robinhood delisted Polygon (MATIC) in response to the SEC's crackdown, potentially impacting its trading volume and revenue.
Robinhood's decision to delist Polygon (MATIC) in response to the SEC's crackdown may lead to a decrease in trading volume and revenue for the platform, negatively impacting its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Polygon (MATIC) price increased by 4% to $0.62 after the team's response to the SEC's crackdown. TraderSZ predicts it will hit $1.08 levels soon.
The Polygon team's response to the SEC's crackdown and the increase in social contributors related to MATIC have driven the price up by 4% to $0.62. TraderSZ's prediction of MATIC hitting $1.08 levels soon indicates a positive short-term price impact.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100