Matic price maintains its uptrend for the consecutive couple of days and expected to keep surging until the target is reached
With the immense growing popularity and fastrack adoption, the supply on the exchanges are being drained at greater pace
Fastrack Recovery For The Matic Price
Polygon(MATIC) price gained enough traction from the traders and the investors as the asset remained less affected by the Bitcoin price plunge. After the fastrack recovery, Matic price continues to surge, and may surpass its ATH at $2.68 very soon.
By doing so, Polygon may become the only asset to recover its losses fully, while most of the assets still strive to do so. While BTC price surpassed $40k , yet very far off from its highs around $64,000. On the other hand, Ethereum also added up more than $1000 to hit above $2800 yet is half way towards its ATH.
With the extended bull rally, the price is expected to hit the highest levels soon. According to a popular analyst, Lark Davis, the price may smash $10 levels very soon.
Is Matic Becoming More Scarce?
As the Polygon DApp ecosystem has been growing at a lightning speed, the total number of DApps tracked on Polygon rises above 90. And hence, the wider the adoption, the more traders jump in the ecosystem.
However as the popularity of the asset is growing, the supply on the exchanges has reached the lowest levels. There are only 0.4% of the total supply which is less than 40 million is left out on exchanges.
This clearly indicates, the supply is held on the wallets as traders tend to hold within the ongoing bull rally. The Matic price has currently broken the upper resistance levels at $2.16 and surging high to next levels around the ATH.