The polygon network continues to thrive, but zkEVM can save MATIC from being lost

  • Polygon zkEVM has recorded growth in the past 7 days.
  • New partnerships for Polygon, but price action remained negative.

ribbed [MATIC] The most recent Polygon zkEVM stats were published on January 31st. According to the data, the growth of zkEVM over the past week seemed promising for Polygon Network.

Is your wallet green? verification Polygon profit calculator

For example, the total number of wallet addresses was 82,484, with an average blocking time of 1.1 minutes. In addition, the total number of published contracts grew by 17%, while the total number of blocks increased by 12.6%.

ribbed It also partnered with Genso to help improve the latter’s offerings. As part of this collaboration, Genso will create game worlds that are more detailed and vibrant than ever before, including landscapes, characters, dynamic weather, and more.


Despite these developments, the price of MATIC shocked investors with its drop of more than 6% in the past 24 hours. to me CoinMarketCapAt the time of writing, MATIC was trading at $1.09, with a market capitalization of over $9.4 billion.

Interestingly, despite the recent negative price movement, MATIC remained one of the top picks. WhaleStats notes that MATIC has made it to the Ethereum 500 Best Cryptocurrency List [ETH] holding whales.

Investors may have more reason to worry as MATIC’s FX reserves increased, which was a negative sign as it indicated a rise in selling pressure. Santiment Chart revealed this matThe MVRV ratio recorded a decline, which increases the chances of the downtrend continuing.

The price volatility of MATIC has also increased for one week, which makes the value of MATIC subject to unprecedented change. However, the active wallets used to send and receive coins increased by 25.00% compared to yesterday, which was a positive.

Source: feeling

Realistic or not, here is MATIC’s market cap in terms of BTC

Bears outnumber bulls

a look at matThe daily chart also proves that the bears are gaining an advantage in the market over the bulls. MACD showed the possibility of a bearish cross soon. The MATIC Relative Strength Index (RSI) posted a decline, which was a development in favor of the sellers.

The Money Flow Index (MFI) is also lower, and is hovering near the neutral mark. According to the Bollinger Bands, MATIC price has been in a high-volatility area, which increases the probability of a price decline. The range of the exponential moving average (EMA) gave investors much-needed hope, as the 20-day moving average remained above the 55-day moving average.

Source: TradingView

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