The race ahead of Bitcoin Cash, Litecoin, Algorand, MATIC needs it to stay ahead

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This week has proven to be fruitful for most of the crypto market and many altcoins have even created records, including MATIC, the Polygon network token. Along with the rise in prices, investor optimism also increased and MATIC appeared to be enjoying profits. But this decision by some investors could in fact cause MATIC to slow down its growth.

MATIC has returned many altcoins

The 41.83% rally that altcoin saw this week led it to topple some major tokens on the top 20 cryptocurrency list. With a market cap of $ 13.37 billion, Polygon outperformed Bitcoin Cash, Litecoin, Algorand and Binance USD stable coin to take 17th position.

Polygon price action | Source: TradingView – AMBCrypto

Polygon has pushed its limits on many fronts to make itself accessible to everyone using a variety of methods. The organization of the first Indian BUILDIT hackathon was one such effort. In fact, recently the company also invested in Asia’s largest NFT market, called Colexion, with the aim of expanding its reach into the Asian market. Thus, beyond development, investment has also become a tool for their expansion.

But first, we need to discuss the decision of investors who could cut Polygon’s rise.

What did Polygon investors do?

Due to the rally, most of the investors took this opportunity to cash in some profit and we also got to see the results on a chain. At the start of the rise, investors also started selling, and in less than 10 days, over 100 million MATICs worth nearly $ 200 million were sold.

Polygon Exchange Provision | Source: Health – AMBCrypto

A large portion of these sellers were also Long Term Holders (LTH) who moved their holdings and in 3 days ended up consuming 26.9 billion days.

Age of polygon consumed | Source: Health – AMBCrypto

Cashing out is not a bad idea when the market is not strong or when the market is seeing a potential reversal. But cashing in when the asset looks strong for a continued rise can have a negative effect.

As a result of this sale, MATIC has now fallen by almost 8%. TThis may now be the reason why investors are taking losses even though throughout October MATIC holders recorded profits. Indeed, thanks to the good performance, investors in profit went from 44.16% to 93.24% at the time of this report.

Profitable polygon addresses | Source: In the block – AMBCrypto

Additionally, the same increase also led to an increase in participation, as both active and new addresses boomed this week.

So, if investors wish to maintain these statistics and not cause a reversal of the rise in market capitalization, it would be better to HODL their MATIC.


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