- MATIC has seen tremendous price growth lately, rising over 80% in the past month even as the overall crypto market trends down.
- MATIC’s surge is driven by growing market sentiment, rising institutional interest, and accumulation by key wallets holding large amounts of tokens.
- Trading data shows spikes in large volume MATIC transactions and major holders accumulating millions in MATIC, underscoring the momentum behind its recent rally.
Polygon’s native token MATIC has seen tremendous growth lately, rising over 80% in the past month. MATIC has continued to climb against the overall market trend. What factors are driving this impressive rally?
MATIC’s Recent Price Performance
MATIC is up over 80% in the last 30 days. It has also charted gains of 8% in the last 24 hours while most other major cryptocurrencies decline. MATIC is currently trading around $0.94.
Growing Market Sentiment
Part of MATIC’s price surge can be attributed to the overall bullish sentiment in the crypto market. As the market recovers from recent lows, interest in Polygon and other Layer 2 solutions for Ethereum has expanded.
Institutional Interest Rising
In addition to market-wide sentiment, MATIC is likely benefiting from growing interest among institutional crypto investors and whales. Trading data shows significant spikes in large volume MATIC transactions.
Key Wallets Accumulating
Further evidence of big money flowing into MATIC – key wallets holding between 100K to 10M tokens have accumulated around 43 million MATIC worth $40 million in recent weeks.
MATIC’s growth has outpaced both Bitcoin and Ethereum over the past month. The expanding use cases for Polygon, rising institutional interest, and accumulation by major holders suggest MATIC’s rally could continue. Its ability to gain against the overall market downtrend highlights its current momentum.