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NewsBTC 2022-10-05 12:51:52

Polygon Spikes 6.5% In Last 24 Hours As MATIC Investors See Bullish Momentum

Polygon (MATIC) is currently having a rally of its own as it recovered from its range low of $0.721 recorded last September 22. MATIC is the only asset in top 20 cryptocurrencies to record double-digit gains for the past week Buyers are back and so is the buying pressure, propelling the asset to go higher Polygon now has two versions of SynFutures mainnet At press time, data from CoinGecko shows the crypto is trading at $0.837 and has been up by 13.1% for the last seven days. Among the top 20 cryptocurrencies based on market capitalization that includes Bitcoin, Ethereum, XRP and Cardano, MATIC is the only one to register double-digit price increase for the past week. Related Reading: Celsius Investors May Be Left Dismayed As CEL Drops 6.5% In Last 7 Days Analysts believe that this bullish rally now indicates that buyers are back, exerting tremendous buying pressure causing the asset to climb higher for the past days. Polygon Uptick Has Other Reasons, Too The month of October this year is starting to shape up as a friendly one for cryptocurrencies, paving the way for bounce-backs of different levels. Bitcoin, for example, currently changes hands at $20,237 while altcoin king Ethereum is trading at $1,354. Both assets are performing better compared to how they did last month. While the recovery of the pack leaders may contribute for Polygon’s rally, there seems to be other reasons that fuel this run. A quick glance at MATIC’s m...

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