Polygon’s NFT ecosystem witnessed some significant growth over the last few weeks However, on-chain metrics and indicators favored a bearish outlook Kraken, one of the world’s most popular crypto exchanges, recently announced that it had integrated Polygon [MATIC] on its platform. With this new development, users can send and receive MATIC natively on the Polygon […]
This growth was also reflected on Santiment’s charts, as the total number of Polygon’s NFT trade counts spiked over last week alongside its total NFT trade volume in USD.Despite these developments, MATIC’s price action did not seem to favor investors as it dropped 8% over the week. At press time, MATIC was trading at $0.
8731, with a market capitalization of over $7.6 billion. Could this stagnant performance be a result of the bearish market, or was something else cooking?’s Market Value to Realized Value Ratio registered a decline over the last week, which was a bearish signal. Not only that, but MATIC’s volume declined as well. However, on a positive note, its network growth went up in, which gave hope to investors.
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