Polygon’s DeFi ecosystem registered growth with multiple new integrations and partnerships. MATIC’s response to these developments was positive and metrics were bullish. The crypto community is ecstatic about the long-awaited release of zkEVM. Polygon [MATIC] recently announced that the zkEVM mainnet will go live on 27 March 2023. Only five weeks ahead of Polygon zkEVM’s […]
As these developments happened, MATIC’s price responded positively, with its price increasing by over 61% in the month. According to
, MATIC’s value registered an uptick of nearly 24% in the last seven days, and at press time, it was trading at $1.52 with a market capitalization of more than $13.2 billion.Santiment’s data also revealed a few factors that were working in MATIC’s favor. For instance, ’s MVRV Ratio went up considerably, which looked bullish. Moreover, the daily active addresses also registered an uptick, reflecting more users in the network. MATIC’s weighted sentiment also remained towards the upper side., MATIC’s exchange reserve was decreasing, indicating less selling pressure. However, the total number of transactions and transfer volume was declining, which can be troublesome.Subscribe to get it daily in your inbox.
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