While Bitcoin surged, MATIC experienced growth, indicating its independence from Bitcoin's influence as it decoupled.
Amidst Bitcoin’s surge, MATIC seizes momentum with an impressive growth, decoupling from Bitcoin’s shadow. However, challenges persist within the DeFi sector.The Polygon zkEVM network offered optimism, as it experienced a 40% TVL increase and reached an all-time high.
Unlike previous instances where Bitcoin’s rise overshadowed other digital assets, this time, altcoins like MATIC have displayed remarkable decoupling from Bitcoin’s price, as reported by Santiment.On 12 October, MATIC faced a significant test when it approached the $0.501 support level. The token not only overcame this hurdle, but surged by an impressive 25%. At the time of writing, MATIC was trading at $0.634, reflecting its substantial growth in a short period.
Despite the price rally, the Chaikin Money Flow for MATIC dropped to -0.07, indicating a bearish trend in money flow. However, the Relative Strength Index remained notably high at around 75.99, suggesting strong bullish momentum.While the number of MATIC holders increased with the price surge, a notable decline in network growth occurred. This trend indicates a reduced frequency of new addresses engaging in MATIC transactions.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto SWOT: Bitcoin topped $30,000 last week on growing expectations of a spot Bitcoin ETF approvalCommentaries from industry expert Frank Holmes focusing on gold price movements, what's moving markets and what to expect in the metals sector.
Read more »
A second shipment of 17 trucks bringing aid to Palestinians crosses into Gaza, Egyptian media sayIsrael halted all food, medicine and electricity into the territory after Hamas' deadly Oct. 7 attack. The Israeli military has, so far, allowed fewer than 40 trucks in.
Read more »
Rock collected by Apollo 17 astronaut in 1972 reveals moon's ageExplore stories from Atlantic Canada.
Read more »
Rock collected by Apollo 17 astronaut in 1972 reveals moon’s ageThe moon formed more than 4.46 billion years ago, within 110 million years after the solar system’s birth, scientists say
Read more »
17 Best Selling Amazon Beauty Products That Canadian Reviewers Say Are Worth OrderingSkip pricey microblading seshes and time-sucking brow routines with the help of this Maybelline New York Tattoo Brow Peel Off Tint. It'll fill in any sparse spots and the results can last up to three days. Available in three shades.
Read more »
Hounds forward, coach picked for World U-17 Hockey ChallengeForward Brady Martin, head coach John Dean get nod for hockey showcase in P.E.I.
Read more »