In its latest report, Polygon [MATIC] claimed to have recorded remarkable growth in the Decentralized Applications (dApps) arena. According to the third quarter assessment released on 7 October, dApps built on the Polygon chain stood at 53,000. This number represented a 60% increase from Q2 and a 3x growth from March 2022. But you can’t […]
A look at the 24-hour trading volume pointed towards a decrease. Furthermore, according to data analytics platform Santiment, the ERC-20 token dipped 6.86%, with its volume at $271.58 million.Despite the number being as high as 117.36 million on 3 October, the circulation was down to 869,000, at the time of this writing. There was little to no change in the trend for its active addresses as it fell from 2,747 to 2,407, at the time of press.
As of this writing, MATIC’s social dominance was at 0.023%. On the exchange supply part, there was a slight difference. At 993.98 million, the supply on exchanges seemed to have moved above the 990 million spot recorded on 5 October.On the daily chart, there were signals that MATIC could leave the current bearish zone. The Directional Movement Index indicated that MATIC buyers were starting to have more edge over the sellers . Furthermore, the Average Directional Index was neutral at 18.88.
However, MATIC buyers may require a value higher than 21.10 and a rise above 25 to certify concrete signs of an uptick. Thus, considering the data at hand, a move toward the bears couldn’t be ruled out completely.Subscribe to get it daily in your inbox.
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