MATIC’s price looks to be holding up quite well in the market given current circumstances, but given how much the crypto’s price has fallen from its 2021 all-time high price, the vast majority of its holders are still nursing losses from their investments.
80% Of MATIC Investors Suffer Losses
Data from the On-chain Analysis Platform IntoTheBlock This shows that nearly 80% of MATIC investors suffer losses at current prices. These analyses consider the price at the wallet where the tokens were placed and then compare it to the price of the digital asset.
MATIC shows that only 15% of investors are currently in profit and 5% are neutral. This means they bought their tokens at the same price as the current coin value. It also helps to see how much investors have suffered.
MATIC’s price is down more than 72% from its all-time high price of $2.91, according to data from MessariHowever, it is performing well year-to-date. It currently has a 147% profit compared to its $0.32 cycle low on June 18, 2022.
Source: IntoTheBlock| Source: IntoTheBlock
Medium-term holders still dominate the asset, which is those who have had their coins for between one and twelve months. These holders make up 56% percent of MATIC investors. The 38% long-term holders remain significant, while the 7% short-term owners who purchased in the last month still account for 7%. This shows that, despite losses, it remains a digital asset with an investor pool looking to keep it for the long haul.
Polygon Is Still A Big Player
MATIC has shown strength even in a bear market. It is currently the 10th largest cryptocurrency by market cap and has important partnerships that have increased interest in the blockchain.
Source:| Source: MATICUSD on TradingView.com
One of the latest was the announcement by Polygon that the DeGods NFT and y00ts collections, which are the largest in the Solana blockchain, will be migrating over to Polygon beginning January 2023. Reddit and Meta, Stripe as well as Starbucks, Adidas, Disney and Nike are some of the other notable partnerships.
Polygon’s total value locked (TVL) also surpassed those of competitors such as Solana and Avalanche. This makes it one the 5 most important Decentralized Finance (DeFi), ecosystems in the crypto industry.
MATIC’s price is currently trending between $0.79-$0.8 at the time of this writing. It has fallen 0.13% over the past 24 hours, with a trading volume $233 million.