Santiment: Polygon (MATIC) is expecting a short sale and a new takeoff
As the price of Polygon (MATIC) sets new records, crypto analytics company Santiment monitors network activity and social media performance of the token.
On Monday, the token for Polygon, the leading Ethereum Level 2 scaling solution, soared to a record high of $2.92. It then lost some of its gains and is currently trading at $2.57.
After analyzing the number of active MATIC addresses, Santiment noted that Polygon is currently showing "decent network activity."
Analysts also state that there is currently profit taking on MATIC, with inflows to the cryptocurrency at a low level. The volume of mentions of MATIC on social networks remained low until the cryptocurrency hit a price high, after which there was a surge of interest.
