MATIC has already been upgraded to POL. Its price is around 0.078u. It is down more than 90% from its all-time high of 1.29—an extremely harsh drop.
This week the decline has been a bit sudden: down about 5%. If you stretch it out to a month, it still looks like a slight gain—up by less than 3%. That suggests a pattern where it first rallied, then got slammed back down. The 24-hour swings are not large: the high was 0.0796 and the low was 0.0781, with a tight range of consolidation.
A drop of more than 90% is pretty extreme even among more mainstream projects. It indicates that the market sentiment has never really been buying into it. Renaming and migrating to a new token also hasn’t managed to push the price up.
The circulating supply is basically the entire total supply, and there won’t be much new supply coming out later. So sell-pressure isn’t the main contradiction here. The key is whether new capital is willing to come in.
At this level, if it can hold the 0.078 range and not break downward further, it will most likely continue grinding at the bottom. If you want to catch a bottom, you can keep an eye on this area, but be prepared that it may take quite a long time. For shorting from this position, the risk-reward ratio isn’t great anymore, since it has already fallen deep enough. If you really want to see a turnaround, you may still need to wait for truly substantive positive news later on.
#matic $MATIC