Polygon Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Polygon (CRYPTO: MATIC) has seen a 3.79% decrease in price over the last 24 hours, falling to $0.69, despite a 3.0% gain over the past week. Trading volume has decreased by 36.0%, while the circulating supply increased by 0.16% to over 9.28 billion, making up 92.83% of its max supply. MATIC's market cap ranks #20 at $6.41 billion.
May 08, 2024 | 3:03 pm
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Polygon's MATICUSD has experienced a 3.79% decrease in price to $0.69 over the last 24 hours, despite a positive trend over the past week. The trading volume has seen a significant decrease, and the circulating supply has slightly increased.
The short-term price drop of 3.79% in MATICUSD, despite a weekly gain, indicates a negative market reaction that could influence investor sentiment negatively. The decrease in trading volume suggests lower market activity, which might contribute to price volatility. The slight increase in circulating supply could also impact the price negatively in the short term due to potential dilution effects. However, the overall positive trend over the past week and the significant market cap ranking could provide some support to the price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100