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MATIC holders suffer massive losses, here you can see how many wallets are in the red

The price of MATIC seems to be holding up quite well in the market given the current circumstances, but given how strong the price of the crypto is from theirs all-time high has fallen in 2021, the vast majority of its holders are still suffering losses from their investments.

80% of MATIC investors suffer losses

Data from on-chain analytics platform IntoTheBlock shows that 80% of MATIC investors see losses at current prices. These analyzes take into account the price at which the tokens were moved into a wallet and compare that to the current price of the digital asset to get these numbers.

The summary for MATIC shows that only 15% of investors are currently making profits, with 5% in neutral territory, meaning they bought their tokens at the same prices as the current coin. It also puts into perspective how much investors have lost.

MATIC’s price is down more than 72% from its all-time high of $2.91, according to data from Messari, but it’s performing reasonably well year-to-date. It is currently up 147% from its cycle low of $0.32, which was marked on June 18, 2022.

MATIC holders suffer massive losses, here you can see how many wallets are in the red, Crypto Trading News

80% of MATIC investors in loss | Source: IntoTheBlock

The asset is still mainly dominated by medium-term holders, i.e. those who have held their coins between 1 and 12 months. This owner base makes up 56% of MATIC investors. Long-term holders are still significant at 38%, and short-term holders who bought in the last month sit at 7%. This shows that despite the losses, this is a digital asset that the investor base wants to hold for the long term.

Polygon is still a big player

Even in the bear market, MATIC was able to show strength in the market. It is now officially one of the largest cryptocurrencies after market capitalization and ranks 10th on the list, with key partnerships drawing attention to the Blockchain have increased.

MATIC holders suffer massive losses, here you can see how many wallets are in the red, Crypto Trading News

MATIC trending below $0.8 | Source: MATICUSD on TradingView.com

One of the most recent of these was the announcement that the NFT-Collections of DeGods and y00ts which are the largest in the Solana-Blockchain would migrate to Polygon in January 2023. Other notable partnerships include Reddit, Meta, Stripe, Starbucks, Adidas, Disney and Nike, among others.

Polygon’s total locked value (TVL) also surpassed that of competitors such as Solana and Avalanche. This makes it one of the top 5 largest decentralized financial ecosystems (DeFi) in the crypto sector.

MATIC is currently priced between $0.79 and $0.8 at the time of writing. It is down 0.13% in the last 24 hours with a trading volume of $233 million.

Follow Best Owie on Twitter for market insights, updates and the occasional fun tweet… Featured image by The Face, chart by TradingView.com

Source: Crypto News Deutsch

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