Polygon Down More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Polygon's (CRYPTO: MATIC) price has decreased by 4.66% over the past 24 hours to $0.76, with a weekly decline of 11.0% from $0.85. The volatility, as indicated by Bollinger Bands, suggests increased fluctuations in price. Trading volume has increased by 3.0% over the past week, while the circulating supply has decreased by 1.01%, now at 9.28 billion MATIC, 92.83% of the max supply. MATIC's market cap is currently ranked #16 at $7.03 billion.
January 22, 2024 | 7:02 pm
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Polygon's MATICUSD has experienced a significant price drop of 4.66% in the last 24 hours and an 11% decrease over the past week, indicating a bearish trend with increased volatility and trading volume.
The price drop of 4.66% in the past 24 hours, along with an 11% decrease over the past week, suggests a negative short-term impact on MATICUSD. The increase in trading volume could indicate heightened trader interest, possibly due to the price drop. The decrease in circulating supply might typically suggest a positive impact on price due to scarcity, but the current trend and increased volatility point to a bearish outlook in the short term.
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