Recent activity in the Polygon market indicates growing confidence in the network and a recovery of the total value locked surpassing $1 billion.
Whale Activity in Polygon Market
Polygon has witnessed significant whale activity, with over 59 million POL tokens bought in the last 48 hours. This surge highlights increasing confidence in the network. Such accumulation typically drives up token prices, setting the stage for potential growth.
Rise of Polygon's TVL
The total value locked in the Polygon ecosystem has rebounded above $1 billion, particularly noticeable since the growth in August 2024. This indicates renewed interest and capital inflow into the ecosystem, associated with network scaling initiatives and project migration to Layer 2.
Polygon Crypto Price Analysis
The price of POL is consolidating within a tight range between $0.54 and $0.56. The MACD indicator shows weakening bullish momentum. A breakout above $0.56 could target levels up to $0.60 and $0.65, while a downside move might find support at $0.52 and $0.50.
Whale activity and the recovery of TVL in Polygon signal strong institutional support and possible further price growth for POL.
