The post Investors Boost MATIC Price Surge appeared on BitcoinEthereumNews.com.

Polygon’s native token, MATIC, has recently hit a 60-day high, partly driven by a significant 28% price increase last week. This surge in value is attributed to investors’ anticipation of an upcoming token swap from MATIC to POL. Currently, MATIC is trading at $0.52, showcasing notable whale activity that has been pivotal in this price rally. Increased Whale Activity: What Does It Mean? Recent data from IntoTheBlock reveals a 43% increase in net flow among large holders of the token. These large holders, who possess more than 0.1% of MATIC’s circulating supply, are crucial indicators of market sentiment. When their net flow rises, it indicates accumulation by whale addresses, often a precursor to a bullish market. Access COINTURK FINANCE to get the latest financial and business news. This accumulation by significant investors instills confidence in individual investors, prompting additional purchases and sustaining the upward momentum in MATIC’s price. In essence, as whales buy more tokens, smaller investors follow suit, pushing the price higher. Why Are Futures Investors Bullish? Futures investors in MATIC have consistently demonstrated a preference for long positions, reflected in the altcoin’s positive funding rate since August 17. A positive funding rate implies that investors are willing to pay a premium to maintain bullish positions, signaling a general market expectation of a price increase. This bullish sentiment among futures investors further supports the positive price movement, as more market participants are betting on a continued rally rather than a decline. Key Insights for Investors – Monitor whale activity as a bullish indicator for potential price rallies.– Positive funding rates in futures markets suggest sustained investor confidence in price increases.– Watch for the directional indicators; a strong ADX and a higher +DI than -DI can signal robust bullish trends. MATIC’s Average Directional Index (ADX), evaluated on a daily chart,…

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Filed under: News - @ August 23, 2024 3:08 am