Why Price of Polygon Matic is falling?

[aiviaa485]

I bought Matic yesterday, and will hold until bullish.
Yeah .. hold for long term investment.

You must be a Whales investor because your tone is very convincing.
I'm still afraid to invest in Polygon Matic coins because the supply is so large.
As far as I know, there are also remaining Matic coins that have not left Dev's wallet and are still being stored, perhaps the total circulation of Matic coins is around 85%.
What is worrying is that the 15% has not been sold by the Devs and surely these coins will also be used by the Devs from Polygon Matic for the development of Matic coins, If it's not possible, it's just for the future savings of all the Developers.

[KryptoBull]

You must be a Whales investor because your tone is very convincing.
I'm still afraid to invest in Polygon Matic coins because the supply is so large.
As far as I know, there are also remaining Matic coins that have not left Dev's wallet and are still being stored, perhaps the total circulation of Matic coins is around 85%.
What is worrying is that the 15% has not been sold by the Devs and surely these coins will also be used by the Devs from Polygon Matic for the development of Matic coins, If it's not possible, it's just for the future savings of all the Developers.

+ nice analysis!
I don't track onchain data so I don't have as much information and opinions as you do. I just observed the price line and saw that MATIC is still in a correction wedge and cannot escape yet. I will wait for support at the bottom edge of the wedge before deciding to invest in MATIC for the upcoming uptrend.

[I-Bit]

You must be a Whales investor because your tone is very convincing.

Not really. What I see, he looks convincing to explain Bitcoin. When he stated about Matic, he looks just speculating.
Anyway, whales won't have enough time to tell others. They prefer to action and keep it secretly for themselves.

I'm still afraid to invest in Polygon Matic coins because the supply is so large.
As far as I know, there are also remaining Matic coins that have not left Dev's wallet and are still being stored, perhaps the total circulation of Matic coins is around 85%.

Max supply is 10,000,000,000. The circulating supply is 9,282,943,566. I think the Matic circulation in the market is more than 85%. The current price of MATIC looks quite cheap but it is getting increase or grow. There are also some development made by the team. So why we must be afraid with MATIC?

https://www.coingecko.com/en/coins/polygon

[vegasus]

+ nice analysis!
I don't track onchain data so I don't have as much information and opinions as you do. I just observed the price line and saw that MATIC is still in a correction wedge and cannot escape yet. I will wait for support at the bottom edge of the wedge before deciding to invest in MATIC for the upcoming uptrend.

Bump..
Sorry to replace again in this thread.
This is quite interesting when I see this graph. The price of Matic at that time was at a rate of $ 0.7. and after that the price of Matic continued to drop, even dropping to $ 0.3 and around that range, it was really bad. even finally Matic has changed to POL and is expected to be able to change the potential increase of POL. and now, in November, when almost all altcoins experienced a fantastic increase, the price of POL could not increase that significantly, even only increasing by a few percent and now the price of POL is around $ 0.5. still quite far from the drop from the beginning of this year. this is indeed quite doubtful when seeing the slow increase in its price, not only that, its market cap is also decreasing, and even now POL is only ranked 30th in the coin market cap, it is dropping even more, right?

[Azharul]

+ nice analysis!
I don't track onchain data so I don't have as much information and opinions as you do. I just observed the price line and saw that MATIC is still in a correction wedge and cannot escape yet. I will wait for support at the bottom edge of the wedge before deciding to invest in MATIC for the upcoming uptrend.

Bump..
Sorry to replace again in this thread.
This is quite interesting when I see this graph. The price of Matic at that time was at a rate of $ 0.7. and after that the price of Matic continued to drop, even dropping to $ 0.3 and around that range, it was really bad. even finally Matic has changed to POL and is expected to be able to change the potential increase of POL. and now, in November, when almost all altcoins experienced a fantastic increase, the price of POL could not increase that significantly, even only increasing by a few percent and now the price of POL is around $ 0.5. still quite far from the drop from the beginning of this year. this is indeed quite doubtful when seeing the slow increase in its price, not only that, its market cap is also decreasing, and even now POL is only ranked 30th in the coin market cap, it is dropping even more, right?

I think that you also create a best opinion in your post. I think that in this time polygon Matic price is increasing gradually in crypto currency market. But if we follow in few months ago, we can see that polygon Matic price is very lower situation staying in crypto currency market. But we can see that in this time polygon Matic price is increase, because we know that bitcoin price is increase in crypto currency market. So I believe that gradually polygon Matic price also reach best position within a short time. So I think that it will be very prefer for hold or invest in this crypto.

[kai]

I see not only Polygon whose price has dropped but all altcoins have also dropped, such as Ethereum, BNB and Ripple have also dropped in price.
The benchmark is the change in the price of Bitcoin because this Bitcoin effect is felt very strongly. When Bitcoin is 10,000 dollars then altcoins go up maybe a maximum increase of only 10% and in contrast to the opposite when Bitcoin only drops around 5,000 dollars but all altcoins drop can exceed 21%
I see Polygon also has the same price journey for the past few weeks, so I think Polygon, Ethereum, BNB are all still normal because they follow the price of Bitcoin.

[|MINER|]

I see not only Polygon whose price has dropped but all altcoins have also dropped, such as Ethereum, BNB and Ripple have also dropped in price.
The benchmark is the change in the price of Bitcoin because this Bitcoin effect is felt very strongly. When Bitcoin is 10,000 dollars then altcoins go up maybe a maximum increase of only 10% and in contrast to the opposite when Bitcoin only drops around 5,000 dollars but all altcoins drop can exceed 21%
I see Polygon also has the same price journey for the past few weeks, so I think Polygon, Ethereum, BNB are all still normal because they follow the price of Bitcoin.

I would have said the same thing a few days ago but poly coins have performed well. Now the bitcoin market is dumping to correct itself and if bitcoin dumps then the entire crypto market will dump and it is normal that altcoins will dump a little more. However, I am ambivalent about how Polygon will perform this bull season because if Polygon had performed well at all, it would be above 0.70 cents now.

[kai]

I see not only Polygon whose price has dropped but all altcoins have also dropped, such as Ethereum, BNB and Ripple have also dropped in price.
The benchmark is the change in the price of Bitcoin because this Bitcoin effect is felt very strongly. When Bitcoin is 10,000 dollars then altcoins go up maybe a maximum increase of only 10% and in contrast to the opposite when Bitcoin only drops around 5,000 dollars but all altcoins drop can exceed 21%
I see Polygon also has the same price journey for the past few weeks, so I think Polygon, Ethereum, BNB are all still normal because they follow the price of Bitcoin.

I would have said the same thing a few days ago but poly coins have performed well. Now the bitcoin market is dumping to correct itself and if bitcoin dumps then the entire crypto market will dump and it is normal that altcoins will dump a little more.

It's been like that since the beginning because I see that Bitcoin is so dominant that all traders switch to trading Bitcoin and leave altcoins a little. Indirectly the altcoins market is slowly going down and the market is turning red.

However, I am ambivalent about how Polygon will perform this bull season because if Polygon had performed well at all, it would be above 0.70 cents now.

Many doubt it too, including me, you and in our community also to Polygon's performance. Even my friend in the community was disappointed after Polygon changed its name from Matic to Polygon, it Dumped to a price below 0.31 dollars, the estimate in our community would rise to a price of 1 dollar but this dumped.

[Stompix]

I see not only Polygon whose price has dropped but all altcoins have also dropped, such as Ethereum, BNB and Ripple have also dropped in price.

How can you even compare the two?
Matic is -50% drown from a year ago, Bitcoin is up 115%, comparing the two is pure madness.
Fact is Polygon dropped like a stone, didn't experience anything but a short jump of 30% and then went bearish again while coins were still rising.

 

[kai]

I see not only Polygon whose price has dropped but all altcoins have also dropped, such as Ethereum, BNB and Ripple have also dropped in price.

How can you even compare the two?
Matic is -50% drown from a year ago, Bitcoin is up 115%, comparing the two is pure madness.

I'm not comparing it with Bitcoin but I'm comparing it with Ethereum, BNB and Ripple which are all of the same type, they are altcoins. Then Bitcoin becomes a benchmark for other altcoins because the price of Bitcoin dominates massively in various markets so that when Bitcoin goes up and green, all altcoins are a little red and the price goes down. Among them is as you said, this Matic coin went down -50%.

Fact is Polygon dropped like a stone, didn't experience anything but a short jump of 30% and then went bearish again while coins were still rising.

Yup, Polygon dropped quite badly for now, even though if I look at the Polygon ecosystem, there are so many and I checked the Polygon ecosystem here:

- https://coinmarketcap.com/currencies/polygon-ecosystem-token/
- https://www.coingecko.com/en/categories/polygon-ecosystem

I will ask you now, if the Polygon ecosystem is already like that, then why hasn't the price of Polygon increased? What factors make Polygon not increase in price in your opinion?

[|MINER|]

Many doubt it too, including me, you and in our community also to Polygon's performance. Even my friend in the community was disappointed after Polygon changed its name from Matic to Polygon, it Dumped to a price below 0.31 dollars, the estimate in our community would rise to a price of 1 dollar but this dumped.

When the polygon dump to the 0.31 cents I was thoughting that may be this will be another crash in the crypto market and that is why I didn't even make any investment on that time. Now I am regretting myself that why I don't make any investment on polygon on that time. Because in this current market how it recover it self it's looks like even if it don't perform like before it was at least it will goes up to the 1.50$ so I am  regretting it.

[Bobcrypto]

I see not only Polygon whose price has dropped but all altcoins have also dropped, such as Ethereum, BNB and Ripple have also dropped in price.
The benchmark is the change in the price of Bitcoin because this Bitcoin effect is felt very strongly. When Bitcoin is 10,000 dollars then altcoins go up maybe a maximum increase of only 10% and in contrast to the opposite when Bitcoin only drops around 5,000 dollars but all altcoins drop can exceed 21%
I see Polygon also has the same price journey for the past few weeks, so I think Polygon, Ethereum, BNB are all still normal because they follow the price of Bitcoin.

This situation is basically the effects of Bitcoin dominance factors, it has been the biggest challenge to altcoins, and it is one of the major reasons why many altcoins, especially the new listed projects does not survive this Bitcoin dominance overtimes.
Altcoins with out strong marketcap and huge trading volumes may collapse if dominance increases for a long period. BNB, MATIC, Solana, TRX, Avax, and many others altcoins has been well establish on the crypto market to withstand the Bitcoin dominance, and it should be a yard stick used to determining coins for long term investments in my opinion.

[debra]

After reading this, I immediately searched for POL on CMC, and I needed to scroll several times to find where POL was at number. and it turned out that the price of POL was that bad. even after changing its name from Matic to POL, the price remained the same, there was no increase and now the price of POL is only around $ 0.4, there really is no progress compared to XRP which used to have almost the same status, the price plummeted and the market cap plummeted. But now, the difference is very far. POL is not only starting to lose trust from the community, but also value, market cap, and there is no development in its project. I don't know how long this coin will be able to survive, because the longer it is, the more its ranking will drop.

[erus]

Bitcoin from a price of 102,000 dollars fell to a price of around 97,000 dollars per day yesterday, then followed by Polygon from a price of 0.432 dollars down to around 0.392 dollars, I think this Polygon is indeed very difficult to get away from the price of Bitcoin.
Polygon is also still a very dominant altcoin in terms of the Ethereum Layer 2 system but unfortunately this Polygon is always carried away by Bitcoin so that the increase and decrease in its price depends heavily on the price of Bitcoin, maybe this is what is called real altcoins that always lose to the price of Bitcoin.

[Ransow]

Almost all altcoins price is falling I think bitcoin dominance is the reason to falling altcoins but few coins performance is better lot of altcoins price is almost bottom they almost touched bear market bottom but they're still running well once bitcoin dominance comes below 50-45 we can see a real alt season today Ethereum has started to recover it's bitcoin pair it is a good trigger of the alt season.