MATIC has shown rapid accumulation or increase in the supply since the final days of November. More so, there was also an increased demand seen in the derivatives market which could be the outcome of positive Binance Funding Rate on the MATIC/USDT pair.
CoinMarketCap data shows that MATIC price is now up by 1.48% or trading at $0.8019 at the time of writing. With the rate it’s going, Polygon could further retest of even breach the present support level with sustained momentum.
Price still could potentially slide further towards $0.7736 or even lower
Polygon token price spikes by 1.48%
Shows rapid accumulation since November 21
The overall market sentiment for Polygon has been positive all throughout. Despite its recent hiccups in price, the development activity was observed to have spiked, which pushed the coin enter bearish turf for the most parts of December.
After its release in 2017, Polygon quickly became a popular alternative to the Ethereum blockchain due to its faster transac
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