The price of MATIC seems to be holding up well in the market due to the current situation, but since the price of the crypto has fallen from the highest price in 2021, the majority of holders are still experiencing losses from their investments.
80% of MATIC Investors Suffer Losses
Data from the chain analysis platform IntoTheBlock shows that 80% of MATIC investors are experiencing losses at the current price. The analysis takes the price at which the token was moved to the wallet and compares it to the current price of the digital asset to give the figure.
Summary for MATIC puts only 15% of the current investors in profit with 5% in the neutral area, which means they buy tokens at prices equal to the current value of the coin. It also gives perspective on how many investors are missing out.
MATIC’s price is down more than 72% from its all-time high price of $2.91, according to data from Messari, but it’s pretty good on a year-to-date basis. It has now gained 147% from the cycle low of $0.32 marked on June 18, 2022.
80% of MATIC investors in loss | Source: IntoTheBlock
The asset is still dominated by medium-term holders, meaning those who have held the coin for between 1-12 months. This holder base makes up 56% of MATIC investors. Long-term holders are still significant at 38% and short-term holders who bought in the last month are sitting at 7%. This shows that despite the losses, this is a digital asset with an investor base that wants to hold on to it for the long term.
Polygon is still a big player
Even with the bear market, MATIC has been able to show its strength in the market. It is now officially one of the largest cryptocurrencies by market cap, placing 10th on the list, with important partnerships that increase attention on the blockchain.
MATIC trending below $0.8 | Source: MATICUSD on TradingView.com
One of the most recent is the announcement that the DeGods and y00ts NFT collection, the largest on the Solana blockchain, will move to Polygon in January 2023. Other notable partnerships include Reddit, Meta, Stripe, Starbucks, Adidas, Disney, and Nike , among others.
Polygon’s Total Locked Value (TVL) also outperforms competitors such as Solana and Avalanche. This makes it one of the 5 largest decentralized finance (DeFi) ecosystems in the crypto sector.
MATIC price is currently trending between $0.79-$0.8 as of this writing. It is down 0.13% in the last 24 hours with a trading volume of $233 million.