MATIC Price Peaks Following Google’s Association with Polygon Network
The post MATIC Price Peaks Following Google’s Association with Polygon Network appeared on BitcoinEthereumNews.com. MATIC saw a surge nearing $0.60 on Monday, spurred by Google Cloud’s new role as a validator node in the Polygon framework. Crucial on-chain statistics and derivatives market intel could predict the trajectory of MATIC in the upcoming days. On September 29, the Polygon group disclosed Google Cloud’s fresh status as a decentralized node validator. This announcement stirred the early investors, offering crucial clues regarding future MATIC price fluctuations. Is MATIC price about to explode into a stratosphere or is it just another short-term spike that won’t last? Follow through to find out. Google’s Association Boosts Big-Investor Sentiment in MATIC Following Google Cloud’s validator role declaration, prominent MATIC investors ramped up their market engagements. Data indicates that October 1, 2023, marked 68 major deals within the Polygon network. Interestingly, this surge in big-investor trade is the most significant since September 7. The ‘Major Transactions’ criterion cumulatively counts confirmed deals surpassing $100,000 within a day. Astute investors see a rise in major transactions as a positive market indicator. One reason is that substantial trades elevate market fluidity, enabling order completion at optimal rates. More crucially, heightened whale demand can trigger price hikes when there’s a market supply deficit. Bullish Momentum Observed Among Speculative Traders MATIC’s recent updates have undeniably invigorated the spot markets. Concurrently, fresh figures from the derivatives sector highlight that speculative participants in Polygon are placing optimistic wagers. On September 28, aggregated MATIC Open Interest plummeted to $86 billion. Yet, post the announcement, this statistic started climbing, reaching a monthly zenith of $116 million by October 1. This surge denotes an additional $30 million capital flow into the MATIC futures scene. The speculation is that Google’s involvement will augur well for Polygon’s long-term prospects. Open Interest represents the total derivatives contracts for an asset across renowned Futures exchanges. A…
The post MATIC Price Peaks Following Google’s Association with Polygon Network appeared on BitcoinEthereumNews.com.
MATIC saw a surge nearing $0.60 on Monday, spurred by Google Cloud’s new role as a validator node in the Polygon framework. Crucial on-chain statistics and derivatives market intel could predict the trajectory of MATIC in the upcoming days. On September 29, the Polygon group disclosed Google Cloud’s fresh status as a decentralized node validator. This announcement stirred the early investors, offering crucial clues regarding future MATIC price fluctuations. Is MATIC price about to explode into a stratosphere or is it just another short-term spike that won’t last? Follow through to find out. Google’s Association Boosts Big-Investor Sentiment in MATIC Following Google Cloud’s validator role declaration, prominent MATIC investors ramped up their market engagements. Data indicates that October 1, 2023, marked 68 major deals within the Polygon network. Interestingly, this surge in big-investor trade is the most significant since September 7. The ‘Major Transactions’ criterion cumulatively counts confirmed deals surpassing $100,000 within a day. Astute investors see a rise in major transactions as a positive market indicator. One reason is that substantial trades elevate market fluidity, enabling order completion at optimal rates. More crucially, heightened whale demand can trigger price hikes when there’s a market supply deficit. Bullish Momentum Observed Among Speculative Traders MATIC’s recent updates have undeniably invigorated the spot markets. Concurrently, fresh figures from the derivatives sector highlight that speculative participants in Polygon are placing optimistic wagers. On September 28, aggregated MATIC Open Interest plummeted to $86 billion. Yet, post the announcement, this statistic started climbing, reaching a monthly zenith of $116 million by October 1. This surge denotes an additional $30 million capital flow into the MATIC futures scene. The speculation is that Google’s involvement will augur well for Polygon’s long-term prospects. Open Interest represents the total derivatives contracts for an asset across renowned Futures exchanges. A…
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