🟡 Polygon Ecosystem: Bullish Surge Despite MATIC's Downtrend
🚀 Monthly active users on Polygon have soared to a staggering 8.8 million, marking an all-time high.
🏦 Investment heavyweight Franklin Templeton kicks off tokenized shares transfer on Polygon blockchain.
📈 Despite MATIC's recent downturn, the Polygon ecosystem showcases bullish trends across various sectors. Gaming protocols witness a remarkable surge of 3,663% in active addresses, while CeFi protocols follow closely with a 1,473% increase. Other sectors, including stablecoin, DeFi, and SocialFi, also demonstrate significant growth.
♦️ MATIC Market Dynamics: Bearish Signs Linger
📉 Over the past 30 days, MATIC has experienced a 32% decline, dropping from $1.06 to $0.71. The 50-day exponential moving average (50EMA) points to a downtrend, with MATIC's relative strength index (RSI) edging towards oversold territory.
📈 However, a glimmer of hope emerges in the weekly timeframe, suggesting a potential 4.5% uptick in MATIC's price.
💰 At the time of analysis, Polygon (MATIC) trades at $0.7128, boasting a market cap of $7.05 billion and a daily trading volume of $270 million.
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