Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»MATIC’s rise is not due to ‘organic demand’, analyst warns.
ALTCOIN NEWS

MATIC’s rise is not due to ‘organic demand’, analyst warns.

By Crypto FlexsNovember 30, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
MATIC’s rise is not due to ‘organic demand’, analyst warns.
Share
Facebook Twitter LinkedIn Pinterest Email

reporter

Posted on: November 30, 2023

  • MATIC’s exchange supply has been steadily increasing.
  • However, market sentiment showed slowing demand among retail investors.

The recent surge in Polygon (MATIC) supply on cryptocurrency exchanges may not be due to actual demand for the token in the general market. In a new report, anonymous CryptoQuant analyst Joao Wedson found:

“Recently, we have witnessed an unusual scenario in which the price of MATIC rose significantly and the reserves held by the exchange also increased significantly. However, upon closer analysis of this situation, it becomes clear that price movements may not be directly aligned with the public interest.”

The token’s value has risen 18% in the past month due to a rally in exchange supply. Meanwhile, Wedson’s assessment of general market sentiment revealed:

“There appears to be no clear correlation with public interest or a proportional increase in organic demand.”

With regards to the group of MATIC holders driving the rally, the analyst cited a “theory” that this could be due to an accumulation of tokens on cryptocurrency exchanges.

Wedson said:

“The theory is that the possibility that the recent surge in Matic is closely related to the accumulation of coins on exchanges is gaining ground. This suggests that the upward price momentum may have been driven more by internal exchange strategies rather than a significant increase in demand from retail investors.”

Low demand from spot traders

Evaluating MATIC’s performance on the 24-hour chart, we found that the accumulation has been steadily decreasing since November 12th.

Additionally, the values ​​of Relative Strength Index (RSI) and Money Flow Index (MFI) were fixed below the center line. At press time, RSI and MFI stood at 50.05 and 39.48, respectively.

The values ​​of these key momentum indicators show that token sales are far outpacing token accumulation among day traders.

Additionally, MATIC’s Moving Average Convergence/Divergence indicator (MACD) confirmed the bearish sentiment permeating the market.

Source: MATIC/USDT on TradingView


Read Polygon (MATIC) Price Prediction for 2023-24


Open interest in the futures market has also steadily decreased. According to data from Coinglass, MATIC’s open interest has steadily decreased by 21% since November 16th.

A decrease in open interest in an asset means that traders are liquidating existing positions. This is done as a way to make a profit or as a hedge against potential loss.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025
Add A Comment

Comments are closed.

Recent Posts

BNBCapital Emerges As Top Immutable DeFi Protocol With 239% Returns And Zero Admin Functions

September 12, 2025

MEXC Enhances Futures Trading With Multi-Asset Margin Mode Across 14 Tokens

September 12, 2025

Ethereum Based Meme Coin Pepeto Presale Past $6.6 Million As Exchange Demo Launches

September 12, 2025

BlockchainFX Raises $7.24M In Presale As First Multi-Asset Super App Connecting Crypto, Stocks, And Forex Goes Live In Beta

September 12, 2025

Phemex Launches Multi-Assets Mode To Enhance Trading Efficiency And Risk Management

September 12, 2025

Ethereum Meme Coin Little Pepe Crosses $25M, Announces 15 ETH Giveaway

September 12, 2025

DOLLUM Expands Wallet Opportunities, Introducing New Security Features Following The DOL Token Sale

September 12, 2025

Ethena (ENA) Eye 50% rally, whale activities, transactions and users surge

September 12, 2025

Bitmine ‘s ethereum Holdings 46,255 Eth Buy 2.1 million units

September 12, 2025

Manual guide: beginner guide

September 11, 2025

KuCoin Partners With Golf Icon Adam Scott As Global Brand Ambassador

September 11, 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

BNBCapital Emerges As Top Immutable DeFi Protocol With 239% Returns And Zero Admin Functions

September 12, 2025

MEXC Enhances Futures Trading With Multi-Asset Margin Mode Across 14 Tokens

September 12, 2025

Ethereum Based Meme Coin Pepeto Presale Past $6.6 Million As Exchange Demo Launches

September 12, 2025
Most Popular

Bybit launches bot copy trading for automated social cryptocurrency trading

December 17, 2023

Binance Pool introduces merged mining for LTC with LTC, DOGE, BEL rewards

September 30, 2024

VanEck shifts focus to spot Ethereum ETF, phases out futures fund EFUT

September 8, 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.