Altcoin MATIC Gains Momentum: Here’s Why Holders Need to Pay Attention

• Polygon (MATIC) managed to garner some bullish momentum in the ongoing altcoin season of 2023.
• The developers of Polygon announced the release of Supernets’ latest test version with features like staking, bridge, EIP 1559 support etc.
• MATIC holders witnessed a rise since December 2022 and most sellers stood in a profitable position at the time of writing.

Polygon [MATIC] Bullish Momentum

The altcoin, Polygon (MATIC), managed to garner some bullish momentum that may last for the next few days. Metrics too supported the altcoin on its bullish stride as its price action stood in green.

Polygon Supernets’ Latest Test Version

Developers announced the release of the Polygon Supernets’ latest test version with various features including staking, bridge, EIP support, along with a few additional features. This could be a significant move towards the upcoming v1.0 production release according to the announcement made by Polygon Developers on their Twitter account.

Rise In MATIC Holders

Data intelligence platform Santiment showed that there was an increase in MATIC holders since December 2022 and it stood at 42.8 million at the time of writing. Furthermore, daily on-chain transactions showed that addresses in profit outnumber those in loss as most sellers were found to be standing in profitable positions at present.

Long/Short Ratio

Data from coinglass revealed that MATIC’s long/short ratio stood at 1.0886 where 52% traders held long positions while 47% held short positions at press time.


In conclusion, it can be said that MATIC is currently being backed by many holders and metrics which will help sustain its bullish momentum in this ongoing altcoin season of 2023 and beyond.