Polygon [MATIC] had a busy week as several major developments took place over the last few days while its price went up
A recent tweet from Today In Polygon revealed most of the notable developments that happened in the ecosystem last week. MATIC’s price also remained bullish.had a busy week as several major developments took place over the last few days. Today In Polygon recently posted a tweet highlighting most of the notable developments from last week. While that happened, MATIC also managed to push its price upward.
Based on the community’s feedback during the PIP governance process, PIP-24: Change EIP-1559 Policy & PIP-25: Adjust POL Total Supply,…Apart from that, another major development was Polygon’s partnership with Google Cloud. Google announced that it has become a validator for the Polygon blockchain. Apart from that, the blockchain’s rollup, zkEVM, also reached new highs as its total transactions exceeded 6 million. The rollup’s unique addresses also exceeded the 450k mark last week.as the token registered gains. The token’s price went up by more than 4% over the last seven days. However, things took a U-turn in the last 24 hours as its price went down., MATIC’s price dropped by over 2% yesterday. At the time of writing, it was trading at $0.5634 with a market capitalization of over $5.
A look at the token’s metrics revealed what went wrong over the last few days. It was surprising to note that despite the recent price drop, the token’s MVRV ratio was still relatively up last week. Its social volume also remained high, reflecting the token’s popularity.However, things had the potential to worsen for MATIC. A look at the token’s daily chart showed that its Chaikin Money Flow registered a steep decline as it went way under the neutral mark.
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