COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Whale Addresses Increase as Polygon (MATIC) Prepares for Uptrend
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Polygon (MATIC) > Whale Addresses Increase as Polygon (MATIC) Prepares for Uptrend
Polygon (MATIC)

Whale Addresses Increase as Polygon (MATIC) Prepares for Uptrend

In Brief

  • Whale addresses holding MATIC tokens are increasing.

  • MATIC's value rose by 3% last week.

  • Positive CMF and MACD indicate potential bullish momentum.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

As the number of whale addresses holding Layer 2 (L2) tokens begins to rise, Polygon (MATIC) may be preparing for an uptrend. An evaluation of token movements on the 1-day chart could indicate that the bullish trend is gradually re-emerging in the MATIC market. An analysis of MATIC distribution shows an increase in the number of whales holding more than 100,000 tokens.

Contents
Increase in MATIC WhalesPrice Prediction for MATIC

Increase in MATIC Whales

This investor group grew by 1.2% over the past week. This group of MATIC investors held 77.41% of the total circulating supply of 10 billion MATIC. The increase in whale activities led to a 3% rise in MATIC’s value last week, reversing the general market downtrend observed during the same period.

The growth in the number of MATIC whales during the same period may be due to the profitability of transactions involving altcoins. Additionally, the evaluation of MATIC’s daily profit/loss ratio was 1.03. This metric’s value indicated that more profitable MATIC transactions occurred in the last seven days than losing ones. The metric shows that for every losing MATIC transaction, 1.03 transactions brought profit to investors.

Moreover, MATIC’s Chaikin Money Flow (CMF) value was 0.07. This indicator measures the buying and selling pressure behind a token’s price movement. Its positive value means more money flowed into the token on bullish days than on bearish days, which could indicate that buyers are in control.

Price Prediction for MATIC

The positive CMF of ADA and the evaluation of the price uptrend together could indicate an increase in bullish sentiment around the altcoin. Additionally, data obtained from MATIC’s Moving Average Convergence Divergence (MACD) indicator showed that the MACD line was set to cross above the zero line at the time of writing.

When a token’s MACD line crosses above the zero line, it can indicate a shift in momentum from a bearish to a bullish trend. This situation could suggest that the moving average is catching up with the current price and that the price may be in an uptrend.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Polygon Faces Leadership Shift as Co-Founder Mihailo Bjelic Exits

Polygon Launches AggLayer v0.2 Testnet to Enhance Blockchain Interactions

Polygon Community Votes on Liquidity Proposal to Fund Ecosystem Growth

AggLayer Summit Engages Blockchain Leaders in Bangkok

Polygon and Magic Labs Create a New Cross-Chain Network

COINTURK NEWS 27 May, 2024 - 4:50 pm 27 May, 2024 - 4:50 pm
Share This Article
Facebook Twitter
Share
Previous Article MetaMask Users Anticipate Potential Coin Launch
Next Article IX Swap Integrates with MANTRA to Enhance Tokenized Asset Trading
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Bitcoin and MKR Coin Take Center Stage: Summer Price Targets and Critical Events
Cryptocurrency News
Cryptocurrencies Rise as Fed Faces Inflation Challenges
Economy
Bitcoin Holds Strong at Six Figures Despite Market Volatility
Cryptocurrency News
IG Group Breaks Barriers with Crypto Trading Access for Individual Investors
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?