Cryptocurrency Polygon Up More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Polygon (CRYPTO: MATIC) has seen a 4.2% increase in its price over the last 24 hours, reaching $0.74. This is part of a 7.0% gain over the past week from $0.69. Despite a 45.0% decrease in trading volume over the week, its market cap ranks #21 at $6.87 billion. The circulating supply has slightly decreased to 9.28 billion, about 92.83% of its max supply.
April 22, 2024 | 7:02 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Polygon (MATIC) has experienced a 4.2% price increase in the last 24 hours, contributing to a 7% gain over the week. The trading volume has decreased by 45%, and the circulating supply has slightly reduced.
The price increase of Polygon (MATIC) over the past 24 hours and week indicates a positive short-term momentum for the asset. 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. However, the significant drop in trading volume could also indicate less market participation which might temper the short-term upside.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100