Polygon's Q1 Milestones Fail to Boost MATIC as Price Sees 22% Fall
Originally Published 1 year ago — by AMBCrypto News
Despite Polygon's Q1 milestones and surge in network usage, MATIC's market cap increased by 31% but its overvaluation suggests a potential price correction. The blockchain's active addresses reached an all-time high, but the number of transactions dropped. MATIC's Q1 report showed a surge in trading volume and holders, but a drop in captured value, fees, revenue, and earnings. The token's P/F ratio increased by 21%, indicating overvaluation and potential price drop. MATIC's price was down by over 9% in the last week, with bearish sentiment increasing, but investors continued to accumulate the token as its supply on exchanges declined.
