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MATIC shows little impact on Polygon’s Q1 milestones
The post MATIC shows little impact on Polygon’s Q1 milestones appeared on BitcoinEthereumNews.com. Over the past few weeks, Polygon [MATIC] has seen a sharp increase in network usage. There is a surge in daily active addresses; however, Polygon’s revenue plummeted considerably in the first quarter of the year. Also, there is speculation that MATIC could soon hit price correction. The speculation is largely based on a drop in Weighted Sentiment along with a hike in P/F Ratio. The latter signals that a further price drop could come in the future. Crucial metrics of Polygon have increased. This included trading volume and number of holders, among others. For starters, trading volume surged by $6.1 billion on a quarter-to-quarter basis. Second, the number of holders rose by 13.3% on a quarter-to-quarter basis and 84.9% on a year-on-year basis. Also, Market Capitalization grew by 31%. Accumulation is a direct result of bullish speculation. MATIC price prediction estimates that the token may end the year at $2.50. For reference, MATIC is currently listed at $0.8936 with a slip of 0.86%. The value is, moreover, a drop of 10.25% in the last 7 days and 23.08% in the last 30 days. Things are gloomy in terms of revenue, which is evident from the fact that Polygon bagged only $6.83 million in blockchain fees in the first quarter. That is a drop of 19% in comparison to the previous quarter. Revenue hit $2.7 million, shedding 45% over the last quarter. Polygon’s earnings went down by 33%. An increase of 21% in the P/F Ratio is what’s causing the burden to investors. They are optimistic about the future bull run, but the ratio hints at a contrasting image. A possible price drop takes away the chance of generating better returns in the short and medium term. Nevertheless, Traders continue accumulating MATIC because of a decline in supply on exchanges. Daily…
The post MATIC shows little impact on Polygon’s Q1 milestones appeared on BitcoinEthereumNews.com.
Over the past few weeks, Polygon [MATIC] has seen a sharp increase in network usage. There is a surge in daily active addresses; however, Polygon’s revenue plummeted considerably in the first quarter of the year. Also, there is speculation that MATIC could soon hit price correction. The speculation is largely based on a drop in Weighted Sentiment along with a hike in P/F Ratio. The latter signals that a further price drop could come in the future. Crucial metrics of Polygon have increased. This included trading volume and number of holders, among others. For starters, trading volume surged by $6.1 billion on a quarter-to-quarter basis. Second, the number of holders rose by 13.3% on a quarter-to-quarter basis and 84.9% on a year-on-year basis. Also, Market Capitalization grew by 31%. Accumulation is a direct result of bullish speculation. MATIC price prediction estimates that the token may end the year at $2.50. For reference, MATIC is currently listed at $0.8936 with a slip of 0.86%. The value is, moreover, a drop of 10.25% in the last 7 days and 23.08% in the last 30 days. Things are gloomy in terms of revenue, which is evident from the fact that Polygon bagged only $6.83 million in blockchain fees in the first quarter. That is a drop of 19% in comparison to the previous quarter. Revenue hit $2.7 million, shedding 45% over the last quarter. Polygon’s earnings went down by 33%. An increase of 21% in the P/F Ratio is what’s causing the burden to investors. They are optimistic about the future bull run, but the ratio hints at a contrasting image. A possible price drop takes away the chance of generating better returns in the short and medium term. Nevertheless, Traders continue accumulating MATIC because of a decline in supply on exchanges. Daily…
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