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

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 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

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025
Most Popular

Cosmos Project Neutron acquires 25% stake in CosmWasm developer Confio

December 5, 2023

Why Altcoin Season Is On the Verge of Extinction

July 27, 2024

Bitget Welcomes ORDISWAP to the Growing BRC20 Ecosystem

January 5, 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.