MATIC Is Trading Above the $1 Mark as Whales Become Active

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Holders of Polygon (MATIC) should be thrilled after some encouraging metrics were released by the blockchain analytical company Santiment.

Yesterday saw “the largest quantity of $100k+ whale transactions since February this year,” according to a tweet sent out last night.

According to CoinMarketCap, MATIC’s price has increased 16.81% in the last day to trade at $1.12.

Additionally, MATIC gained ground versus the two leaders of the cryptocurrency market, Ethereum (ETH) and Bitcoin (BTC), by 15.12% and 15.29%, respectively.

The overall amount of MATIC’s daily trade has increased 63.30% throughout this time, reaching $1,460,864,251.

The market cap of MATIC, which is currently ranked as the 11th largest cryptocurrency project, is $9,780,288,381.

This places it above Polkadot (DOT), which has a market cap of $7,527,528,472, and below Solana (SOL), which has a market valuation of $11,505,728,519 per share.

As market makers gathered the liquidity that fueled the surge in MATIC’s price during the previous two days, the price of MATIC fell to the daily 20 EMA level.

The price of MATIC has easily risen beyond the daily 9 and 20 EMA lines as a result of this pump. As a result, the 9 EMA line is now keeping MATIC’s price steady.

The 9 EMA is above the 20 EMA line and is breaking away from the 20 EMA line, all of which indicate that there is developing positive sentiment, therefore daily technical indicators are optimistic for MATIC.

The daily RSI line is sloping positively toward overbought territory and has passed over the daily RSI SMA line.


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