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MATIC Price Crash: Reaching A Two Year Low
The post MATIC Price Crash: Reaching A Two Year Low appeared on BitcoinEthereumNews.com. The last two days have not been easy on the investors, as the crypto market crash has wiped $260 Billion from the market cap. Additionally, based on the Coinglass data, around 230K traders have lost around $662.90 Million in liquidation in the last 24 hours. Out of which, $565.08 Million liquidation is from the long-position crypto investors. Overall, the investors have lost most of their profits due to cryptocurrencies hitting rock bottom. Polygon (MATIC) is among those cryptocurrencies that are struggling the most today. Officially, MATIC’s price has hit a two-year low after a 20% loss over the week. MATIC Price Maintains Loss Throughout The Year Despite being among the most popular blockchain networks, Polygon’s position in the market has continuously declined since the last year. Polygon was in trend when the market was down last year, but with the bullish conditions this year, other cryptos took over, limiting the MATIC price. The MATIC price charts clearly show the continuation of the loss from a day to a year interval, Out of which the last 24 hours have been the most crucial as an 11% value dropped during this period, whereas over the year, it has maintained a 33% decline. It is currently trading at $0.4565, hitting the two-year low, despite its March rally to $1.2714. This decline is the result of the drastic change in the daily active addresses over time. The token price-DAA Divergence return, which is at -35.59%, clearly indicates the declining network activity as the main reason behind this drop. The last time the value went below the zero mark was on October 24, 2023, which later led to an uptrend. The MATIC Price Might Continue To Drop Based on a few crypto analysts’ predictions, it is just the start of the MATIC price crash and…
The post MATIC Price Crash: Reaching A Two Year Low appeared on BitcoinEthereumNews.com.
The last two days have not been easy on the investors, as the crypto market crash has wiped $260 Billion from the market cap. Additionally, based on the Coinglass data, around 230K traders have lost around $662.90 Million in liquidation in the last 24 hours. Out of which, $565.08 Million liquidation is from the long-position crypto investors. Overall, the investors have lost most of their profits due to cryptocurrencies hitting rock bottom. Polygon (MATIC) is among those cryptocurrencies that are struggling the most today. Officially, MATIC’s price has hit a two-year low after a 20% loss over the week. MATIC Price Maintains Loss Throughout The Year Despite being among the most popular blockchain networks, Polygon’s position in the market has continuously declined since the last year. Polygon was in trend when the market was down last year, but with the bullish conditions this year, other cryptos took over, limiting the MATIC price. The MATIC price charts clearly show the continuation of the loss from a day to a year interval, Out of which the last 24 hours have been the most crucial as an 11% value dropped during this period, whereas over the year, it has maintained a 33% decline. It is currently trading at $0.4565, hitting the two-year low, despite its March rally to $1.2714. This decline is the result of the drastic change in the daily active addresses over time. The token price-DAA Divergence return, which is at -35.59%, clearly indicates the declining network activity as the main reason behind this drop. The last time the value went below the zero mark was on October 24, 2023, which later led to an uptrend. The MATIC Price Might Continue To Drop Based on a few crypto analysts’ predictions, it is just the start of the MATIC price crash and…
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