Over the last few months we have seen Polygon’s rapid growth beyond the scope of an Etthereum layer 2. Polygon has been focused on becoming a key player in the Web3 space and its latest update reveals just how big of a role it might play in the future. Here’s how #Polygon is at the […]
crashed by as much as 15% on 8 November to the day’s low at $1.06 but it managed to recover slightly to its $1.12 at the time of writing.MATIC’s drawdown wasn’t surprising because it experienced a strong rally last week. However, it resulted in a push into overbought territory. But shouldPolygon’s 24-hour active addresses registered a peak on 4 October, before dropping off. This confirmed the end of the bullish demand we observed in the previous week.
While the selloff appeared to be reducing, it didn’t necessarily mean that the bears are done. We might see a return of bearish demand if market sentiment favors the bears, or a return of bullish demand.Subscribe to get it daily in your inbox.
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