MATIC’s value appears to be holding up fairly effectively available in the market given the present circumstances, however given how a lot the crypto’s value has fallen from its all-time high set in 2021, the overwhelming majority of its holders are nonetheless struggling losses on their investments .

80% of MATIC buyers endure losses

Knowledge from on-chain analytics platform IntoTheBlock exhibits that 80% of MATIC buyers see losses at present costs. These analyzes bear in mind the worth at which the tokens have been moved right into a pockets and evaluate that to the present value of the digital asset to get these numbers.

The abstract for MATIC exhibits that solely 15% of buyers are presently making income, with 5% in impartial territory, that means they purchased their tokens on the similar costs because the coin’s present value. It additionally places into perspective how a lot buyers have misplaced.

MATIC’s value is down greater than 72% from its all-time high of $2.91, in line with knowledge from Messari, nevertheless it’s performing moderately effectively year-to-date. It’s presently up 147% from its cycle low of $0.32, which was marked on June 18, 2022.

80% of MATIC buyers in loss | Supply: IntoTheBlock

The asset remains to be primarily dominated by medium-term holders, i.e. those that have held their cash between 1 and 12 months. This proprietor base makes up 56% of MATIC buyers. Lengthy-term holders are nonetheless important at 38%, and short-term holders who purchased within the final month sit at 7%. This exhibits that regardless of the losses, this can be a digital asset that the investor base desires to carry for the long run.

Polygon remains to be a giant participant

Even within the bear market, MATIC was in a position to present energy available in the market. It’s now formally one of many largest cryptocurrencies by market cap and ranks tenth on the listing, with key partnerships which have raised consciousness of the blockchain.

MATIC trending beneath $0.8 | Supply: MATICUSD on TradingView.com

Some of the current of those was the announcement that DeGods and y00ts NFT collections, that are the biggest on the Solana blockchain, can be migrating to Polygon in January 2023. Different notable partnerships embrace Reddit, Meta, Stripe, Starbucks, Adidas, Disney, and Nike, amongst others.

Polygon’s Complete Worth Locked (TVL) additionally surpassed that of opponents like Solana and Avalanche. This makes it one of many high 5 largest decentralized finance ecosystems (DeFi) within the crypto sector.

MATIC is presently priced between $0.79 and $0.8 on the time of writing. It’s down 0.13% within the final 24 hours with a trading quantity of $233 million.

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