Polygon's Price Increased More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Polygon's (CRYPTO: MATIC) price increased by 3.43% in the last 24 hours, reaching $0.83, continuing a positive trend with a 2.0% gain over the past week from $0.81. The trading volume decreased by 40%, and the circulating supply dropped by 0.23% to over 9.28 billion, making up 92.83% of its max supply. MATIC's market cap ranks #15 at $7.66 billion.
February 07, 2024 | 7:00 pm
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Polygon's (MATIC) price rose 3.43% to $0.83 in the last 24 hours, marking a positive trend with a 2.0% increase over the past week. The trading volume has seen a significant decrease, and the circulating supply has slightly decreased.
The price increase of Polygon (MATIC) over the past 24 hours and week indicates a positive market sentiment towards the cryptocurrency. The decrease in trading volume could suggest a consolidation phase following the recent gains, while the slight reduction in circulating supply might contribute to a scarcity effect, potentially supporting further price increases in the short term. However, the significant drop in trading volume needs to be monitored as it could also indicate reduced market interest.
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