MATIC’s value seems to be holding up fairly nicely available in the market given present circumstances, however given how a lot the crypto’s value has fallen from its 2021 all-time excessive value, the overwhelming majority of its holders are nonetheless nursing losses from their investments.
80% Of MATIC Buyers Undergo Losses
Information from the on-chain evaluation platform IntoTheBlock reveals that 80% of MATIC traders are seeing losses at present costs. These analyses take note of the worth at which the tokens have been moved right into a pockets and evaluate that in opposition to the worth of the digital asset at present to offer these figures.
The abstract for MATIC places solely 15% of traders at present in revenue with 5% at impartial territory, which means they bought their tokens on the identical costs as the present worth of the coin. It additionally places into perspective simply how a lot traders have misplaced.
MATIC’s value is down greater than 72% from its all-time excessive value of $2.91, in keeping with information from Messari, however is doing fairly nicely on a year-to-date foundation. It’s at present sitting at a 147% revenue from its cycle low of $0.32 marked on June 18, 2022.
80% of MATIC traders in loss | Supply: IntoTheBlock
The asset remains to be primarily dominated by medium-term holders, which means those that have held their cash between 1-12 months. This holder base makes up 56% of MATIC traders. Lengthy-term holders are nonetheless important at 38% and short-term holders who purchased within the final month are sitting at 7%. This reveals that regardless of the losses, it’s a digital asset with an investor base seeking to maintain for the long run.
Polygon Is Nonetheless A Massive Participant
Even with the bear market, MATIC has been in a position to present power available in the market. It’s now formally one of many largest cryptocurrencies by market cap, putting tenth on the listing, with vital partnerships which have elevated consideration on the blockchain.
MATIC trending beneath $0.8 | Supply: MATICUSD on TradingView.com
Some of the latest of those was the announcement that the DeGods and y00ts NFT collections, that are the biggest on the Solana blockchain, could be migrating to Polygon in January 2023. Different notable partnerships embrace Reddit, Meta, Stripe, Starbucks, Adidas, Disney, and Nike, amongst others.
Polygon’s total value locked (TVL) also surpassed those of competitors such as Solana and Avalanche. This makes it one of many prime 5 largest decentralized finance (DeFi) ecosystems within the crypto sector.
MATIC’s value is at present trending between $0.79-$0.8 on the time of this writing. It’s down 0.13% within the final 24 hours with a buying and selling quantity of $233 million.
