MATIC has witnessed a notable price resurgence, surging from $0.503 to a high of $0.927 in the past month—an impressive 84% increase, ranking it among the top gainers on CoinMarketCap.
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IntoTheBlock reports a significant uptick in institutional and whale demand across the crypto sector. Notably, Polygon’s scaling solution experienced a 3,800% surge in large transactions (over $100,000) last month, contributing significantly to MATIC’s climb above $0.90 for the first time since May.
With a market cap of $8.2 billion, MATIC now holds the 13th position among cryptocurrencies. Despite this bullish trend, investors should exercise caution, considering the proximity to the July 13 wick levels, potentially indicating a formation of a double-top pattern on the daily chart, a signal of a possible trend reversal.
