Polygon [MATIC]: Chances of a toss-up could be underway because…
Polygon’s [MATIC] 6.55% uptick in the last 24 hours may not be because of the all-inclusive crypto market redemption. While this claim does not exclude the contribution, other factors seemed to ensure a guaranteed increase.
Based on Santiment data, MATIC investors could be preparing to grab more of the bullish traits. This is because the Market Value to Realized Value (MVRV) ratio seemed poised to leave behind its massively underwhelming September performance. According to the analytic platform, MATIC’s MVRV was 1.924%.
This could be a sign that October could offer better in terms of profit for its investors. It was noteworthy that the increase seemed to have taken the position since 1 October as it decided to exit the -4.48% region.
Source: Santiment
Additionally, the thoughts of a bullish October were not left to the MVRV alone. In a recent tweet, Santiment reported that MATIC was one of the top cryptocurrencies with increasing unique network addresses.
According to the revelation, the carbon-neutral project was ranked fifth, behind Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], and Tether [USDT].
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