Is MATIC price about to double? Polygon's Reddit hype pushes exchange balance to 9-month lows
Cointelegraph
Published Oct 26, 2022 05:15AM ET
Updated Oct 26, 2022 07:00AM ET
A sharp rebound in the Polygon (MATIC) market in the last four months has increased its price by 200% when measured from its June 2022 bottom of $0.31. And now, the token is showing signs of undergoing another major market rally.
Notably, the MATIC supply held by all crypto exchanges fell to 802.15 million on Oct. 26, its lowest level since January 2022. The plunge came as a part of a broader downtrend that has witnessed over 600 million MATIC leaving exchanges in the last four months, data on Santiment shows.
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Written By: Cointelegraph
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