Polygon Falls More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Polygon (CRYPTO: MATIC) experienced a 3.91% price drop in the last 24 hours, falling to $0.99, despite a 10% gain over the past week. The trading volume has remained stable, while the circulating supply increased by 0.28% to 9.28 billion, representing 92.83% of its max supply. MATIC's market cap ranking is currently #16 at $9.18 billion.
February 28, 2024 | 7:00 pm
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Polygon's MATIC saw a 3.91% decrease to $0.99, diverging from its 10% weekly increase. The circulating supply has slightly increased, with a current market cap ranking of #16.
The short-term price drop of 3.91% in MATICUSD, despite its recent gains, indicates a potential negative impact on investor sentiment. The increase in circulating supply could also dilute the value, further contributing to the price decrease. However, its strong market cap ranking suggests underlying strength that might limit the downside.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100