polygons [MATIC] The 6.55% increase in the last 24 hours may not be due to the overall recovery of the cryptocurrency market. While this claim does not rule out a contribution, there appear to be other factors that warrant a guaranteed increase.
Based on Santiment data, MATIC investors can prepare to take off more rising Features. This is because the market capitalization realized value ratio (MVRV) seemed ready to give up its largely disappointing performance in September. According to the analytics platform, MATIC’s MVRV is 1.924%.
This may be an indication that October may provide better profits for its investors. It is noteworthy that the increase appears to have taken place since October 1 when it decided to leave the area -4.48%.
Separate the alpha from the package
Moreover, the idea of a bullish October was not left to MVRV alone. In a recent tweet, Santiment stated that MATIC was one of the top cryptocurrencies with an increase in unique network addresses.
According to the disclosure, the carbon neutral project is ranked 5th after Bitcoin [BTC]Ethereum [ETH]Litecoin [LTC]tether [USDT].
The assets that get the most address activity (unique interactive network addresses daily) are many things you would expect. But # Litecoin at 3 o’clock, # polygon in number 5 and # bitcoin cash At number 10 may surprise many, like #cryptocurrency Outside the top 20 market capitalization. https://t.co/gU3vad5CQ5 pic.twitter.com/NV1MKlqOti
– Santimentfeed October 3, 2022
This means that investors all over the crypto community are showing more interest in MATIC. On the other hand, Polygon appears to be active in developing its series.
Recently, the Ethereum-based platform confirmed that SynFutures has deployed the second version of its mainnet on Polygon. This made Grid the first to achieve such a feat. Therefore, MATIC investors can now gain more access to the derivatives market via the SynFutures protocol.
V2 mainnet will be available # polygon First 🥳 https://t.co/9PSOCv51Un
– Polygon – Matic 💜 (@0xPolygon) October 3, 2022
According to the development activity, the mainnet distribution does not seem to achieve much across the board. However, the increase in volume over the past 24 hours may have confirmed the rising interest in MATIC.
An increase in the current volume can raise the price of MATIC even more than the current situation.
Interestingly, MATIC investors may have chosen yesterday (October 3) as a game-changing day. According to the 4-hour chart, it was on the mentioned date that the MATIC accumulation and distribution started a huge bullish journey.
Prior to that, the cumulative distribution had fallen to 10.24 billion. As of press time, it has risen to 10.28 billion.
Given the volatility, MATIC’s bullish momentum could have increased further. This is because the Bollinger Bands (BB) indicated that they will exit the low volatility zone on the above date.
BB indicated extreme volatility at the time of writing. As such, MATIC can build on this to become a parabola.