polygons [MATIC] Subway business via Hermez’s EVMs and public chains has not yielded happy news for investors. According to the founder of the project, Anurag Arjun, Polygon had one series of developments.
In short, the mergers aim to achieve a common goal – scaling the ecosystem by demonstrating cryptography and seamless verification.
However, Matic seemed to be quiet about the development. In fact, recent events on the chain have shown that the update was almost not a concern for investors.
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According to Glassnode, the activities on the MATIC network have not been impressive. The number of transfers had expired at the time of writing and had peaked since August. Therefore, transactions per second fell sharply for more than a month.
Although there has been an increase recently, it was only slightly different from September 30th. glass knot show up The number of conversions was 4,045 at the time of writing. The on-chain monitoring platform also showed that the transfers took place in modified from 0.0468.
In addition, the range of MATIC holdings was reversed on September 25. Based on feelings From the data, the bid held by Whale Matic was 42. Given this condition, it does not appear that Matic is ready to extricate investors from the misery of losses.
The placement of NFT in his series wasn’t exciting either. The last time 100 NFT trades were traded in one day was in June. At press time, Polygon’s daily NFT trading across several markets is down significantly.
It was so much more open Given the growth of the network. Santiment showed that the growth of the MATIC network was 988, compared to 1033 on September 29. Therefore, the plans in place to raise the profile of the Polygon network have not yet succeeded.
In addition, the on-chain gains appear to be lower than what investors might expect. Interestingly, it does not appear to have increased more than 9.24 million at the time this report was published.
With all this, it may be possible to be MATIC travel south Will it be an inevitable event?
It’s not a daydream
On the daily chart, the accumulation and distribution of MATIC seem to have contradictory opinions with the on-chain metrics. With Accumulation/Distribution (A/D) of 5.49 billion, MATIC investors settled into “buying and selling vessels”. So this may signal some relief for investors who are anticipating gains in the short term.
While MATIC was trading at $0.77, waiting for a period of pressure on the Bollinger Bands (BB) did not lead to a price hike. At the time of publication, BB showed very low volatility.
Therefore, it may be impossible to expect a significant increase in prices. The indicators from the Awesome Oscillator (AO) also share the same sentiment with its -0.056 value.