MATIC’s value seems to be holding up fairly effectively 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 Investors Suffer Losses
Data from the on-chain evaluation platform IntoTheBlock exhibits that 80% of MATIC buyers are seeing losses at present costs. These analyses take note of the value at which the tokens had been moved right into a pockets and examine that towards the value of the digital asset presently to present these figures.
The abstract for MATIC places solely 15% of buyers presently 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 buyers have misplaced.
MATIC’s value is down greater than 72% from its all-time excessive value of $2.91, in accordance with information from Messari, however is doing fairly effectively on a year-to-date foundation. It is presently sitting at a 147% revenue from its cycle low of $0.32 marked on June 18, 2022.
80% of MATIC buyers in loss | Source: IntoTheBlock
The asset continues 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 buyers. Long-term holders are nonetheless vital at 38% and short-term holders who purchased within the final month are sitting at 7%. This exhibits that regardless of the losses, it’s a digital asset with an investor base seeking to maintain for the long run.
Polygon Is Still A Big Player
Even with the bear market, MATIC has been capable of present energy available in the market. It is 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 | Source: MATICUSD on TradingView.com
One of the latest of those was the announcement that the DeGods and y00ts NFT collections, that are the most important on the Solana blockchain, can be migrating to Polygon in January 2023. Other 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 presently trending between $0.79-$0.8 on the time of this writing. It is down 0.13% within the final 24 hours with a buying and selling quantity of $233 million.
