Polygon (MATIC) Holds Its Gains While Market Turns Red

Polygon (MATIC) Holds Its Gains While Market Turns Red

Polygon’s MATIC has struggled to keep its weekly gains despite the entire crypto market trading in the red zone. The crypto market plunged into an endless decline yesterday after FTX’s acquisition by Binance was made known. The FTX saga has shaken many crypto investors for days due to rumors that the platform had liquidity issues. This resulted in mass liquidation, especially of the platform’s native token, FTT. 

Although the acquisition news pushed prices up, bearish sentiments held sway, pulling the market downward. As of writing, MATIC and OKB were the only tokens still holding substantial gains across the top-100 board. Specifically, MATIC is still up by over 2% from last week’s run. However, it was trading at an intraday loss of 26.70%.

Polygon Adds Over

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