Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»MATIC Price Drops 34% Monthly – Why It’s Not All Bad News
ALTCOIN NEWS

MATIC Price Drops 34% Monthly – Why It’s Not All Bad News

By Crypto FlexsApril 27, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
MATIC Price Drops 34% Monthly – Why It’s Not All Bad News
Share
Facebook Twitter LinkedIn Pinterest Email
  • Polygon’s NFT sales surged 9.6% in the last 24 hours.
  • Whales have been busy collecting MATIC at discounted prices.

Despite how MATIC is doing on the pricing front, Polygon remains the leader in one very important respect. That said, there was non-fungible token (NFT) activity on the Ethereum Virtual Machine (EVM)-based blockchain in April.

Polygon’s NFT Market Tracking

According to AMBCrypto’s research on the Dune Analytics dashboard, Polygon processed approximately 3.4 million transactions on April 15, nearly 10% higher than the week before. Polygon’s dominance can be measured by the fact that the second-best BNB chain can only record 1.9 million transactions, almost half of Polygon’s.

While Polygon clearly dominated the EVM rankings, its overall market performance was equally impressive. According to CryptoSlam data, Polygon was the fourth largest chain by NFT trading volume over the past 24 hours at press time, surging 9.6% to surpass $2.5 million in revenue.

In fact, the network has held the fourth position for over a month, behind top layer 1 (L1) chains such as Ethereum, Bitcoin, and Solana.

Selling Polygon NFTs

Source: CryptoSlam

Will higher NFT activity lead to higher burn rates?

Like many other cryptocurrencies, MATIC derives its value from the trading activity of its parent chain. A portion of the fees paid in MATIC is burned after each transaction, creating a deflationary effect on the coin.

According to burntracker.io, approximately 48,865 MATICs have gone up in smoke in the past 24 hours. It’s impossible to say with certainty, but according to CoinMarketCap, MATIC reacted marginally to this event, rising 1% in 24 hours.

But over a broader period, MATIC suffered, plummeting nearly 34% in one month.


Is your portfolio green? Check out the MATIC Profit Calculator


Whale Bag MATIC Discount

Meanwhile, MATIC whales took advantage of negative price action to add to their positions. Using Santiment data, AMBCrypto found that the number of user groups holding between 10 and 1 million coins was steadily increasing while the price was falling.

This indicates that wealthy investors are confident in MATIC’s medium-term prospects and are going on an asset accumulation spree accordingly.

MATIC whale behaviorMATIC whale behavior

Source: Santiment

Next: WIF loses 12% in 24 hours. How can a trader make sense of all this?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

Despite market volatility

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025
Most Popular

Analysts believe Bitcoin will soon go ‘parabolic’.

November 28, 2023

Cardano (ADA) remains the number one cryptocurrency in this metric

January 23, 2024

BLUM Daily Video Code for October 6, 2024

October 6, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.