MATIC Beats Top Cryptos BTC, ETH In Price Performance – Can It Sustain Tempo?
February 11 2023 - 4:19AM
NEWSBTC
MATIC price is making investors smile and beam with confidence as
it moves north. There is currently a massive demand to jack up the
price of the crypto further up, as explained by veteran crypto
analyst, Ali Martinez. Here’s a quick glance of the coin’s
performance: MATIC price is down by 1.8% Polygon sees increase in
unique wallet addresses or as much as 50k wallets bought Price
overtakes BTC and ETH Related Reading: Ethereum All In Crimson As
ETH Struggles To Reclaim $1,600 CoinMarketCap data shows
that MATIC price is currently trading at $1.24, and down 1.81%
as of this writing. The crypto has been drawing so much investor
interest as of late. Martinez said that roughly 50,000 wallets were
bought right at the $1.11 price point, making it a critical support
range for the token. MATIC Eclipses BTC, ETH In Price Performance
Department MATIC has so far edged leading coins Bitcoin and Ether
in the price performance category. This is viewed as a life-saver
for MATIC especially as it faces some resistance. The coin’s price
has seen an increase of 54% while BTC grew by just 43% and ETH by
37%. MATIC has also performed well last year as seen in the boom of
its NFT ecosystem. Polygon’s NFT transaction has specifically
flourished in December 2022. In fact, Polygon has an amazing peak
to its ATH in terms of NFT transaction volume on the OpenSea
platform. Image: Analytics Insight Interestingly, MATIC is seen to
have outperformed the giant cryptocurrencies on January 2023 not
just in price but also in growth in terms of buyers and in the
number of unique wallet addresses which outplayed both ETH and BNB.
This phenomenal surge has been brought about by the rolling out of
a number of projects on the Polygon platform such as the Lens
Protocol, Reddit Collective Avatar, and others. MATIC Up In Terms
Of Investor Confidence, Community Sentiment With that being said,
investors are seen to be bullish, especially with the partnership
of Aespa, a popular K-pop group, with Dematerialized and Paper
Magazine on Polygon specifically for a digital capsule collection.
The collaboration is said to help gain more visibility for Polygon
specifically on the DeFi and Web3 space. While MATIC is said to
slip as it fails to break past the resistance level of $1.35, the
increase in investor sentiment and surge in on-chain developments
can help the token revert above the $1.19 support range. MATIC
total market cap at $10 billion on the weekend chart | Chart:
TradingView.com Related Reading: This Altcoin Surprises Investors
With 76% Gains In The Last 24 Hours – Find Out Here On the other
hand, Bitcoin’s strong influence on Polygon can affect its claim of
surpassing the resistance level. On the brighter side, the crypto
community has ushered increased faith in MATIC, escalating its
positive sentiment. More so, the MATIC bulls can dictate further
uptick in price movements especially with the emergence of both on-
and off-chain developments on Polygon, making it one of the top and
safe investments in the DeFi and Web3 arena. Featured image from
DriveSafe Online
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