polygon [MATIC] in his latest series of collaborations, announced that the polygon team will work with Indian Law Enforcement. The blockchain would work to create an online complaints portal (FIR).
While this collaboration could further improve the state of crypto adoption, it remains to be determined whether this new development can have a positive effect on the state of crypto. polygon.
— Polygon – MATIC 💜 (@0xPolygon) October 14, 2022
Here are AMBCryptos Price prediction for polygon for 2022-2023.
One of the few areas where Polygon showed growth in addition to its collaborations would be the growth in the number of strikers. According to wagering rewards, the number of strikers on the Polygon network grew by 5.34% in the past 30 days.
However, there was a sharp drop when it came to the income generated by the strikers. Turnover fell by no less than 39.13% in the past month. In addition, if sales continue to fall, it would be difficult for Polygon to sustain the striker’s growth.
A good time for MATIC
Another positive factor was the huge spike observed in terms of network growth on Polygon. In the past month, Polygon’s network growth has increased by a large amount, indicating that the number of new addresses that have transferred their MATIC tokens for the first time has grown. This meant that the activity of new addresses increased.
Further evidence of high activity on the Polygon network would be the spike in the number of daily active addresses over the past 30 days. As can be seen in the image below, the number of daily active addresses has grown significantly in the above time frame.
This spike in daily active addresses may indicate potential growth in the near future.
Not so good here…
Despite Polygon’s growing activity, volume has remained volatile and has seen massive swings in the past month, as shown in the chart below. In addition, Polygon’s Market Value to Realized Value (MVRV) ratio also dropped significantly, which can be considered a potential bearish indicator.
Despite the growing number of blockchain collaborations and the increase in day-to-day activity, MATIC was a victim of the bear market. As of going to press, MATIC was trading at $0.7946 and was down 2.00% in value. Volume was down 31.60% in the past 24 hours, along with market cap, which was down 3.2%.
polygon responsible 0.75% of the total crypto market capitalization at the moment of writing. In addition, the volatility written off also, indicating that if investors wanted to buy Polygon, it would be significantly less risky.
This post Polygon’s preference for this condition may disappoint MATIC investors
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