Polygon’s MATIC has secured its position among the top 5 trending tokens on the CoinGecko search list, marking a triumphant end to the year with significant milestones. After an impressive run, MATIC broke the $1 barrier, experiencing a remarkable 21% surge in just the past hour, securing its position among the top gainers.
Despite a less favorable mid-month performance, December has proven to be a turning point for the 12th-ranked token, now poised for a bullish conclusion to the year. A notable factor contributing to the bullish sentiment surrounding MATIC is the unwavering support from its large-scale holders, often referred to as whales. Analysts had previously anticipated that this substantial backing could propel the Polygon token to overcome the seven-month-old resistance.
Significantly, Polygon’s Whale addresses, which had been reducing their holdings earlier in the month, turned bullish in the days leading up to the successful breakout past $1. Since December 16, addresses holding between 1 million and 10 million MATIC tokens have seen a substantial increase of 55 million Polygon tokens, valued at over $44.5 million. This surge brought their total holdings to 931 million MATIC, reflecting renewed confidence and accumulation.
Incoming Double-Digit Growth For MATIC
Renowned Bitcoin analyst Doctor Profit, known for his accurate predictions in the crypto space, has shone the spotlight on the token, describing it as one of the most undervalued projects currently available. In a recent post, he encouraged his followers to consider entering the market, emphasizing that the altcoin remains a valuable investment below the $1 mark.
According to Doctor Profit, “MATIC is one of the most undervalued projects out there. If I hadn’t bought tons of it at $0.50, I would heavily enter now, as anything below $1 is a gift. Sooner or later, it’s an easy double-digit coin in the incoming bull. One of my favorite coins.”
As the altcoin continues to make significant strides and gather momentum, it remains a focal point for both enthusiasts and analysts anticipating further positive developments in the cryptocurrency market.
In the meantime, the transition from MATIC to POL has been activated on Ethereum’s mainnet. Although a specific timeframe hasn’t been outlined, one can track the continuous advancement and upcoming stages of the roadmap by referring to this link.