Polygon price surges to 4-month high as Bitcoin hits $36.8k

2023-11-9 14:42

Polygon’s price traded to $0.84, a level last seen in July. Meanwhile, Bitcoin (BTC) climbed to $36,800 amid optimism around spot Bitcoin ETF approval. MATIC is trading higher as continued whale accumulation adds buy pressure to the market.

Polygon (MATIC) price rose early Thursday morning to trade at highs of $0.84 on major crypto exchanges. 

The token’s nearly 6% price jump in the past 24 hours means the native token of the layer-2 Ethereum scaling platform reached a four-month high. The altcoin’s market cap has also increased to $7.6 billion, up more than 5.4% in the past three weeks.

Why is Polygon (MATIC) price up?

Polygon’s price has returned to levels last seen in July as cryptocurrencies hit $1.4 trillion in global market cap and 24-hour trading volume of $77 billion.

Meanwhile, Bitcoin (BTC) price climbed to above $36,800 as the optimism around the ecosystem increased. Analysts are bullish on the flagship crypto amid possible catalysts in spot Bitcoin ETF approval and BTC block reward halving in 2024.

For MATIC, the latest dose of upward sentiment comes amid continued whale accumulation. Polygon whales with between 100k and 10 million MATIC have bought an additional 42.88 million tokens since October 24, market intelligence and analytics platform Santiment noted in a post on X.

📈 With #altcoin milestones continuing to fire off, #Polygon has steadily risen back to $0.80 and increased its market cap by +54% in just 3 weeks. And in the past 2 weeks, the key wallets holding 100K-10M $MATIC have supported this rise by accumulating. https://t.co/i7lMmBgRbX pic.twitter.com/dWGXJ8CzOK

— Santiment (@santimentfeed) November 9, 2023

A total of 161 transactions valued at over $100,000 in one day highlights the appetite by large holders to accumulate the token. The overall outlook is that this trend has coincided with the price of MATIC picking upside momentum.

If bulls lock onto the next target at $1.00, its possible MATIC/USD could rally to year-to-date highs of $1.54 reached in February. The token’s all-time high of $2.92 was reached in December 2021.

The post Polygon price surges to 4-month high as Bitcoin hits $36.8k appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 89565.03 (-0.02%)
Объем 24H $148.743b
Изменеия 24h: 2.88 %, 7d: 29.13 %
Cегодня L: $85275.54 - H: $89831.87
Капитализация $1771.718b Rank 1
Цена в час новости $ 36361.34 (146.32%)

bitcoin polygon price matic trading approval spot

Источник: coinjournal.net

bitcoin polygon → Результатов: 106


Фото:

Mark Cuban Reveals Stake in Ethereum Layer 2 Scaling Solution Polygon

Famed American entrepreneur and investor Mark Cuban has divulged a strategic investment in Polygon, highlighting his own use and embrace of the protocol’s multi-chain approach to Ethereum. Investment Accompanies Release of the Polygon SDK As major names line up behind Ethereum, notably Goldman Sachs, which presented a thesis highlighting the network’s potential to overtake Bitcoin […]

2021-5-27 05:00


Trace Network Partners With Polygon And Infosys Consulting For Blockchain Revolution

Beyond Bitcoin, the hottest assets in the crypto markets are those that feature a robust ecosystem that supports several other essential sectors in the industry, such as DeFi or NFTs. The innovative Ethereum Layer 2 scaling solution Polygon – formerly Matic –  is among the most popular and recently partnered with Trace Networks and Infosys […]

2021-4-17 23:39


дальше еще 57 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum’s Momentum Surges As Whale Activity And ETF Inflows Reach Record Highs

Ethereum is once again demonstrating the growth that cemented its position as the second-largest crypto asset by market cap, a title it has held consistently for nearly eight years. Recent data reveals a surge in whale transactions, with key holders significantly ramping up activity—contributing to Ethereum’s recent 14-week high in […]

SUI Breaks All-Time High, Proving Believers Right With Record Gains

SUI has surged 32.4% in the past 24 hours, bringing its market value to an impressive $8.7 billion and securing its position as the 15th largest cryptocurrency by market cap. This record-breaking performance highlights SUI’s remarkable turnaround, defying initial disappointment to achieve significant gains for early supporters. The price of […]

Solana Breaks New Records As Whales And Market Demand Surge

Solana’s momentum is stronger than ever, with its market cap surpassing $100 billion and key metrics setting new records. Whales are accumulating $SOL and the market cap of #Solana surpasses $100B today! Whale"AA21…VxH9" accumulated 7,500 $SOL($1.

Mantle Ecosystem Sees Massive Growth As $COOK And $MNT Surge

The Mantle ecosystem is on a rapid growth trajectory, with its governance token, $COOK, climbing 113% in value over the past week, and $MNT also gaining 50% within the same period. These surges highlight the increasing demand for tokens within the Mantle ecosystem, especially as a whale recently purchased 2.46 […]