https://app.ogcom.xyz/invite/Mzc0MDk4MTQtMTlkMS00OGVmLWE4NDgtYjIwMmM4OWEwNTc5
show a modest increase. On the Solana chain, CryptoUndeads have surged with a 65.74% increase in sales volume, indicating robust collector interest.
Related: GameStop Shut Down Its NFT Marketplace Platform
Beyond the major players, collections such as Avalanche's Dokyo and Bitcoin's Uncategorized Ordinals have also witnessed noteworthy trading volumes. ImmutableX's Gods Unchained Cards, in particular, have achieved sales of $683,975. The evolving dynamics of NFT trading volumes highlight the shifting fortunes and interests within the blockchain space.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a deNotably, Polygon has solidified its position as the fourth-largest blockchain for NFT trading over the past month, with sales surpassing $100 million, indicating a remarkable 70% increase compared to the previous month, according to CryptoSlam.
Related: Polygon [MATIC] Witnesses Surge in Developer Numbers
Earlier in the month, the layer-2 (L2) chain achieved a significant milestone by surpassing Ethereum [ETH] in 24-hour NFT sales for the first time. Driving this surge in Polygon's NFT market is the success of collections from the Web3 game Gas Hero. Specifically, Gas Hero Common Heroes emerged as the second-most traded collection in the last month, generating sales exceeding $35 million.
Disclaimer. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a MATIC Trading Volume Drops by 50% Despite Price Resurgence
On a brighter note, Polygon's NFT market paints a contrasting picture. As reported in a recent X post, the Polygon blockchain has witnessed impressive NFT sales, reaching $90 million in January alone – the highest monthly volume since April 2022.MATIC's Sentiment Index plunges further into negativity, signaling a challenging trend. On a brighter note, Polygon's NFT market thrives, boasting $90 million in sales for January alone.MATIC Trading Volume Drops by 50% Despite Price Resurgence
Polygon [MATIC] rebounded by nearly 3% in the last 24 hours, breaking free from a week-long decline that saw the cryptocurrency shedding 9.7% of its market value, based on CoinMarketCap data. However, appearances can be deceiving.
Contrary to expectations, MATIC's USD trading volumes plunged by over 50% during the same timeframe, according to AZC News's analysis of Santiment data. Traditionally, diminished trading volumes in an upward market trend are perceived as bearish signals, indicating a lack of interest from traders to acquire the asset.
Furthermore, a decrease in volume during an uptrend might suggest that it's time to sell and secure profits. It's essential to note that this information is not to be construed as market advice, and readers were advised to conduct thorough research before making any financial decisions.
The Weighted Sentiment also extended its decline into negative territory, reinforcing the bearish narrative surrounding MATIC. Derivatives traders are losing interest in MATIC as well.
MATIC Loses Favor Among Derivatives Traders
Speculative interest in MATIC has dwindled since the beginning of the year. Coinglass reports that the Open Interest (OI) in MATIC futures stood at $199 million at present, reflecting a 34% decline year-
MATIC Trading Volume Drops by 50% Despite Price ResurgenceMATIC's Sentiment Index plunges further into negativity, signaling a challenging trend. On a brighter note, Polygon's NFT market thrives, boasting $90 million in sales for January alone.MATIC Trading Volume Drops by 50% Despite Price Resurgence
Polygon [MATIC] rebounded by nearly 3% in the last 24 hours, breaking free from a week-long decline that saw the cryptocurrency shedding 9.7% of its market value, based on CoinMarketCap data. However, appearances can be deceiving.
Contrary to expectations, MATIC's USD trading volumes plunged by over 50% during the same timeframe, according to AZC News's analysis of Santiment data. Traditionally, diminished trading volumes in an upward market trend are perceived as bearish signals, indicating a lack of interest from traders to acquire the asset.
Furthermore, a decrease in volume during an uptrend might suggest that it's time to sell and secure profits. It's essential to note that this information is not to be construed as market advice, and readers were advised to conduct thorough research before making any financial decisions.
The Weighted Sentiment also extended its decline into negative territory, reinforcing the bearish narrative surrounding MATIC. Derivatives traders are losing interest in MATIC as well.
MATIC Loses Favor Among Derivatives Traders
Speculative interest in MATIC has dwindled since the beginning of the year. Coinglass reports that the Open Interest (OI) in MATIC futures stood at $199 million at present, reflecting a 34% decline year-to-date (YTD).
