Polygon Down More Than 9% Within 24 hours
Portfolio Pulse from Benzinga Insights
Polygon's cryptocurrency, MATIC, has seen a significant price drop of 9.32% in the last 24 hours, continuing a weekly decline of 12%. The current price is $0.74. The volatility of MATIC is highlighted by the widening of Bollinger Bands on its price charts. Trading volume has decreased by 62% over the past week, and the circulating supply has slightly decreased by 0.68%. MATIC's market cap is now ranked #14, valued at $6.89 billion.
November 21, 2023 | 7:00 pm
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MATICUSD has experienced a significant price drop and increased volatility, with a decrease in trading volume and a slight reduction in circulating supply.
The sharp decline in MATIC's price and trading volume, along with increased volatility, suggests a bearish short-term outlook for MATICUSD. The reduction in circulating supply may not be enough to counteract the negative sentiment in the market, leading to potential further price drops.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100