Polygon (MATIC) Bucks Crypto Trends, Maintains Strong Investor Support
According to the crypto analytics firm Santiment, Polygon (MATIC), a blockchain scaling solution, is currently experiencing its lowest supply levels on exchanges in four years.
The analysis suggests that only 7.1% of MATIC’s supply is currently on exchanges, the lowest level since the crypto asset was introduced in 2019.
Santiment also notes that the low exchange supply “implies limited selloff opportunities that should reassure investors.”
MATIC is trading at $1.12, up 0.51% in the past 24 hours but down more than 1.75% in the past seven days. Polygon has seen a 47% increase since the beginning of 2023.
Santiment also examines Polygon’s mean dollar invested age, which represents the average age of each dollar invested in MATIC.
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“Dormant money” shows signs of moving, with multiple large dips occurring on the mean dollar invested age curve. A flattened curve typically indicates that some old addresses are circulating coins again, which is generally a positive sign for an asset.
If the mean dollar invested age curve experiences another significant drop as it did in January 2021, it could cause excitement.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
