Polygon [MATIC], on the time of writing, was buying and selling at a big premium from its 2022 lows however the alt had struggled to get well again above $1. Demand for the coin above the identical value stage remained low however a current Polygon partnership might pave the way in which for extra liquidity.
Right here’s AMBCrypto’s value prediction for Polygon [MATIC] for 2022-2023
Polygon’s newest announcement revealed a partnership with a WEB3 studio known as SuperLayer. The partnership aimed to leverage development from the gaming, tradition, and funding segments. These developments might pave the way in which for Polygon to use alternatives in fast-paced industries. The partnership underscored Polygon’s pursuit of development alternatives throughout the Web3 ecosystem.
ICYMI – OCT 19 10am ET / 7:30pm IST
Polygon x @superlayerio are teaming as much as dive into the pillars of profitable assist in
➡️CULTURE
➡️GAMING
➡️INVESTMENTTake a look at this lineup 👀👇🏽
🔥🔥🔥 pic.twitter.com/jpsftLTEMC
— Polygon – MATIC 💜 (@0xPolygon) October 15, 2022
The Polygon and SuperLayer’s gaming focus will make it simple for recreation builders to create their very own studios. It will permit the community to be a part of the underlying infrastructure supporting the way forward for decentralized gaming.
Sufficient to wake the resting bulls?
Whereas the SuperLayer-Polygon partnership might contribute to MATIC’s long-term efficiency, may it yield some short-term affect? MATIC’s lively addresses peaked barely above 690,000 addresses on 13 October. They had been right down to 369,000 addresses as of 16 October.
MATIC’s lively addresses dropped considerably within the final 24 hours. In different phrases, there was no wave of incoming purchase strain or promote strain. The identical commentary confirmed that beforehand present strain answerable for final week’s bearish efficiency had diminished.
Community development subsequently moved in tandem with the decline in lively addresses throughout the identical interval. The variety of new addresses additionally witnessed a subsequent drop particularly as the worth sought extra draw back in the previous few days.
Though the tempo of recent addresses decreased, the whole handle depend grew persistently within the final 4 weeks. A wholesome signal that the community was nonetheless rising steadily regardless of short-term headwinds.
To date the metrics indicated a scarcity of great exercise to push for a significant short-term value transfer regardless of the current announcement. A have a look at MATIC’s whale distribution additionally led to an identical conclusion.
MATIC maintained whale exercise throughout the regular parameters. In different phrases, MATIC didn’t garner sufficient whale exercise for a large transfer within the final two days.
One MATIC token price $0.80 on the time of writing. The shortage of great volumes in the beginning of the week meant that MATIC may lengthen its keep beneath $1 for some time longer. Which may change if it manages to safe sufficient buying and selling volumes to shift the demand from the present stage.
Buyers ought to thus maintain an eye fixed out for adjustments in the identical metrics used above to doubtlessly catch the subsequent bullish alternative.