![Polygon [MATIC]: The yin and yang of network growth and price movement](https://i.headtopics.com/images/2023/4/1/cryptoamb/polygon-matic-the-yin-and-yang-of-network-growth-a-polygon-matic-the-yin-and-yang-of-network-growth-a-1642082625236922369.webp)
The Polygon network experienced a divergence between its network growth and price movement. The migration of Y00ts NFT to Polygon could boost network growth and MATIC’s price. The Polygon [MATIC] network has been going through a fascinating phenomenon where its network growth and price movement diverged. Despite this, there is reason to believe that an […]
However, this divergence was not a positive sign, as it lacked new addresses to contribute to transaction volume, resulting in a bearish trend.token experienced a sharp decline of up to 40%. However, things looked up in March as the network growth increased again, coinciding with a correction in the MATIC token’s price.
This time around, the divergence between network growth and price was bullish, and it is expected to impact the price of MATIC positively going forward.price has been on a consistent downtrend, resulting in a loss of almost 30% in value. As of this writing, the token was trading at around $1.1 with a gain of over 1%.was in a bearish trend at press time. The MACD flipped below the zero line on the daily time frame, indicating a bearish trend. However, the bearish trend was relatively weak.
Furthermore, the 30-day Market Value to Realized Value ratio of MATIC has been below zero since 18 March. As of this writing, the MVRV stood at -2.64%. It reflected the recent decline in price and suggested that the token was slightly undervalued.
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