Polygon (MATIC) Price Faces Crucial Turning Point That Could Trigger 50% Rally, Analyst Says

Polygon (MATIC) is the altcoin in focus this time around as an analyst provides an analysis of the crypto token. Based on this analysis, there is a feeling that things could soon begin to look up for MATIC.

Timeline of Polygon, Polygon-ecosystem-token

Polygon Labs announced on Dec. 15 that it had ended its contributions to Polygon Edge, a platform leveraged by several blockchain projects. The company said that it would shift its focus to Polygon CDK, a successor solution that aims to produce a unified layer-2 ecosystem with interoperability and a single pool of liquidity.

In a groundbreaking move, FIFA, the global governing body of football, has announced the launch of FIFA+ Collect, a platform that will allow football fans worldwide to own unique digital collectibles. These collectibles, minted on the Polygon network, will feature iconic moments, art, and imagery from the FIFA Club World Cup™.

OKX, a global cryptocurrency exchange, will soon provide web3 services and knowledge across India. The venture will be focusing on services and managing its operations with a three-pronged strategy.

Amid uncertainty surrounding the previous trend of MATIC, the Polygon network experienced a significant surge in activity, according to the latest Santiment data. This increase is evident in both trading volume and the number of active addresses in the last 24 hours.

In the ever-volatile world of cryptocurrencies, Polygon's native token, MATIC, witnessed a notable price correction, triggering a flurry of activity from significant investors known as “whales.” These investors took advantage of the price decline, splashing a staggering $90 million into acquiring MATIC tokens, indicating a potential trajectory towards a price recovery.

With fundamentals appearing solid and whales signaling confidence through aggressive accumulation, XRP, LINK, and MATIC seem well-positioned to sustain rallies heading into December.

Polygon (MATIC) whales are on a major buying spree, a trend that underscores a bullish trend that only a privileged few are aware of. Polygon (MATIC) Whale Accumulation Trend According to top market analyst Ali Martinez, Polygon whales have acquired as many as 120,000,000 MATIC valued at about $90,480,000 per current market price of $0.754

Developers use Polygon PoS every day to build apps that are reliable, fast, and cost-effective. Whether it's NFT marketplaces or turning real-world assets into tokens, Polygon is crucial.

The City of Lugano has announced a new collaboration with Polygon to offer new innovative crypto services through the MyLugano app. Already today, it is possible to activate the “Assets” section and manage a digital multichain wallet for personal custody.

Polygon (MATIC) price hit a weekly low of $0.70 on Wednesday, November 22, as the crypto markets reacted to the regulatory controversy surrounding Binance. On-chain analytics identify the critical bullish indicators that could shape MATIC's next price move.