Polygon Price Risks Plunge With 90 Million MATIC Tokens Selling At $0.5
Summary
Polygon (MATIC) broke below the $0.5 support level, facing significant selling pressure with over 90 million tokens sold. Despite this, large holders increased their net flows by over 1,700% in the last seven days. Only 3% of Polygon holders are currently in the money, potentially leading to further price drops. The broader crypto market conditions, including Bitcoin's decline and tensions in the Middle East, have contributed to MATIC's recent decline. At the time of writing, Polygon is trading at around $0.48, down almost 2% in the last 24 hours.
