Sandeep Nailwal, the co-founder of Polygon [MATIC] just lately tweeted in regards to the rising gaming ecosystem within the Polygon community. As per the tweet shared by the co-founder, Polygon was the most important blockchain within the gaming house.
Simply take a look at the expansion of gaming customers on @0xPolygon
Progress is “ORDERS OF MAGNITUTE” greater than some other chain ecosystem! And now #zkEVM! Lets preserve constructing lads!Onwards! pic.twitter.com/cBzOQQ3fKR
— Sandeep | Polygon ??3️⃣ (@sandeepnailwal) October 11, 2022
Other than this, Polygon just lately launched its all-new zkEVM — a layer 2 addition to Ethereum that addresses scalability points by mass switch processing rolled right into a single transaction.
Apparently, CryptoDep, a preferred crypto-centric Twitter deal with, additionally tweeted that Polygon nabbed the fourth spot among the many prime initiatives with a market capitalization of beneath $50 million. Polygon stood behind BNB, Cardano [ADA], Solana [SOL], and Polkadot [DOT].
⚡️Prime Initiatives with Market Capitalization beneath $50B
11 October 2022#BNBChain $BNB #BNB $ADA $SOL $DOT $MATIC #TRON $TRX #TRX $UNI #Avalanche $AVAX #AVAX $LINK $QNT $HBAR #EGLD $EGLD $XTZ #XTZ $SAND $CHZ pic.twitter.com/bZR01zB4Mg— ?? CryptoDep #StandWithUkraine ?? (@Crypto_Dep) October 11, 2022
Regardless of the optimistic nature of those developments, none of those mirrored on MATIC’s chart because it registered greater than 3% destructive development within the final seven days. In accordance with CoinMarketCap, at press time, MATIC was buying and selling at $0.7997 with a market cap of over $6.98 billion.
Right here’s AMBCrypto’s Worth Prediction for Polygon (MATIC) for 2023-24
Are you misplaced MATIC?
A few of MATIC’s on-chain metrics supported the token and indicated that good days had been about to come back. As an example, after declining during the last week, MATIC’s Market Worth to Realized Worth (MVRV) Ratio registered an uptick, a optimistic signal, certainly.
Supply: Santiment
Moreover, the variety of day by day energetic addresses elevated during the last week, indicating that there have been extra customers on the community.
Analytics agency, CryptoQuant’s data additionally revealed that MATIC’s change reserve continued to fall, indicating decrease promoting stress, additional rising the probabilities of an uptick.
Surprisingly, MATIC’s quantity additionally went up final week, however on the time of writing, it was down. Opposite to the developments given above, Santiment’s knowledge revealed a decline in MATIC’s community development.
Supply: Santiment
Hope for one of the best
MATIC’s day by day chart gave some hope to the buyers as just a few market indicators had been in help of a value surge within the days to come back. The 20-day Exponential Shifting Common (EMA) (inexperienced) was resting slightly below the 50-day EMA (crimson), rising the probabilities of a bullish crossover quickly.
Moreover, MATIC’s Cash Circulation Index (MFI) additionally registered a slight uptick, which was bullish. Nonetheless, the Chaikin Cash Circulation (CMF) went down and was heading towards a impartial place.
Equally, the Relative Energy Index (RSI) was additionally resting on the impartial mark, limiting MATIC’s value from going up within the brief time period.
Supply: TradingView
