As Binance announces support for MATIC's token swap to POL, on-chain activities indicate upcoming trend reversals.
“Binance will delist all existing MATIC spot trading pairs and cancel all pending MATIC spot trading orders.”
After delisting, all trading orders will be canceled, with all bots services suspended. Trading for the new POL token will start on the 13th of September.However, the market has not shown a strong reaction to the news. MATIC experienced a sharp decline until press time, settling in to trade at $0.433 after marking a 2.84% decline over the past 24 hours.
Thus, there was increased buying pressure, indicates that the lower prices have presented a buying opportunity, which will support a trend reversal. This notion was further supported by a positive Open Interest Weighted Funding rate. Over the past 24 hours, many investors have started to bet on increasing prices, thus increasing demand for long positions.Gladys is a passionate crypto-enthusiast and price analyst. With 3 years of experience in the blockchain space, she's well aware of the prevailing market trends. Gladys is uniquely committed to providing insightful and real-time content to the larger crypto-community.
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