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Polygon (MATIC) Faces Major Sell-Off With Investors Set to Dump

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Investors in Polygon (MATIC) may have been forced to take matters into their own hands. From the observation on-chain, this potential action can be linked to MATIC’s underwhelming performance.

At press time, one MATIC is worth $0.49, representing an 11.61% decrease over the last 30 days. Will the token survive another onslaught?

Polygon Institutional Favorite Status Fades

Data from blockchain analytics platforms shows that it could be challenging for MATIC to bounce. This is because the number of tokens ready to be offloaded is much higher than those waiting to snipe the token at lower prices.

Employing the Exchange On-Chain Market Depth, an indicator that tracks the order books of the top 20 exchanges, BeInCrypto noticed that traders are prepared to sell 90.32 million tokens once MATIC hits $0.50. This is evident from the ask (sell) segment of the order book.

Conversely, the total bids (buy orders) set for $0.49 are a little over 55 million tokens. The difference between the buy and sell orders shows that more traders are willing to remove the Polygon native token from their portfolio.

Read more: 15 Best Polygon (MATIC) Wallets in 2024

Polygon Exchange On-Chain Market Depth
Polygon Exchange On-Chain Market Depth. Source: IntoTheBlock

If this position remains the same over the next couple of days, MATIC’s price may experience another significant plunge.

Furthermore, the large holders’ netflow has decreased by 220% in the last seven days. Large Holders’ netflow measures whales and institutional interest in a cryptocurrency. An increase implies rising accumulation, while a decrease suggests distribution.

At one point, MATIC was once an institutional favorite. But this recent decline implies that the ecosytem has changed, and investors are skeptical of HODLing MATIC.

Polygon Large Holders Netflow.
Polygon Large Holders Netflow. Source: IntoTheBlock

Should MATIC continue to face massive institutional distribution, its price may encounter another round of capitulation.

MATIC Price Prediction: More Losses on the Radar

According to the daily chart, MATIC has yet to break above the descending trendline since June 6. The inability to move past the region suggests that the token remains in bearish territory. If MATIC fails to rise above this trendline, then the price may struggle to recover. 

In addition, the Moving Average Convergence Divergence (MACD) is negative. The MACD uses the difference in moving averages to measure momentum. When the reading is positive, momentum is bullish

When it is negative, momentum is bearish. If this trend continues, MATIC’s price may continue to fall. The On Balance Volume (OBV), which measures buying and selling pressure, gave similar indications.

Read more: Polygon (MATIC) Price Prediction 2024/2025/2030

Polygon Daily Analysis
Polygon Daily Analysis. Source: TradingView

At press time, the OBV trends downward, indicating that sellers have been liquidating MATIC in large numbers. If this continues, the MATIC price may head toward $0.42. However, a resurgence in buying volume could halt the downtrend and possibly lead to the price reaching $0.54.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Hedera (HBAR) Bears Dominate, HBAR Eyes Key $0.15 Level

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Hedera (HBAR) is under pressure, down roughly 13.5% over the past seven days, with its market cap holding at around $7 billion. Recent technical signals point to growing bearish momentum, with both trend and momentum indicators leaning heavily negative.

The price has been hovering near a critical support zone, raising the risk of a breakdown below $0.15 for the first time in months. Unless bulls regain control soon, HBAR could face further losses before any meaningful recovery attempt.

HBAR BBTrend Has Been Turning Heavily Down Since Yesterday

Hedera’s BBTrend indicator has dropped sharply to -10.1, falling from 2.59 just a day ago. This rapid decline signals a strong shift in momentum and suggests that HBAR is experiencing an aggressive downside move.

Such a steep drop often reflects a sudden increase in selling pressure, which can quickly change the asset’s short-term outlook.

The BBTrend, or Bollinger Band Trend, measures the strength and direction of a trend using the position of price relative to the Bollinger Bands. Positive values generally indicate bullish momentum, while negative values point to bearish momentum.

HBAR BBTrend.
HBAR BBTrend. Source: TradingView.

The further the value is from zero, the stronger the trend. HBAR’s BBTrend is now at -10.1, signaling strong bearish momentum.

This suggests that the price is trending lower and doing so with increasing strength, which could lead to further downside unless buyers step in to slow the momentum.

Hedera Ichimoku Cloud Paints a Bearish Picture

Hedera’s Ichimoku Cloud chart reflects a strong bearish structure, with the price action positioned well below both the blue conversion line (Tenkan-sen) and the red baseline (Kijun-sen).

This setup indicates that short-term momentum is clearly aligned with the longer-term downtrend.

The price has consistently failed to break above these dynamic resistance levels, signaling continued seller dominance.

HBAR Ichimoku Cloud.
HBAR Ichimoku Cloud. Source: TradingView.

The future cloud is also red and trending downward, suggesting that bearish pressure is expected to persist in the near term.

The span between the Senkou Span A and B lines remains wide, reinforcing the strength of the downtrend. For any potential reversal to gain credibility, HBAR would first need to challenge and break above the Tenkan-sen and Kijun-sen, and eventually push into or above the cloud.

Until then, the current Ichimoku configuration supports a continuation of the bearish outlook.

Can Hedera Fall Below $0.15 Soon?

Hedera price has been hovering around the $0.16 level and is approaching a key support at $0.156.

If this support fails to hold, it could open the door for further downside, potentially pushing HBAR below the $0.15 mark for the first time since November 2024.

HBAR Price Analysis.
HBAR Price Analysis. Source: TradingView.

However, if HBAR manages to reverse its current trajectory and regain bullish momentum, the first target to watch is the resistance at $0.179.

A breakout above that level could lead to a stronger rally toward $0.20 and, if momentum continues, even reach $0.215. In a more extended bullish scenario, HBAR could climb to $0.25, signaling a full recovery and trend reversal.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Coinbase Tries to Resume Lawsuit Against the FDIC

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Coinbase asked a DC District Court if it could resume its old lawsuit against the FDIC. Coinbase sued this regulator over Operation Choke Point 2.0 and claimed that it’s still refusing to release relevant information.

Based on the information available so far, it’s difficult to draw definitive conclusions. The FDIC maintains that it responded to its opponents’ questions truthfully, though it has shown delays in the past.

Coinbase vs the FDIC

Coinbase, one of the world’s largest crypto exchanges, has been in a few fights with the FDIC. The firm has been pursuing the FDIC over Operation Choke Point 2.0 for months now, and has achieved impressive results. Despite this, however, Coinbase is asking the DC District Court to resume its litigation against the regulator:

“We’re asking the Court to resume our lawsuit because the FDIC has unfortunately stopped sharing information. While we would have loved to resolve this outside of the legal system – and we do appreciate the increased cooperation we’ve seen from the new FDIC leadership – we still have a ways to go,” claimed Paul Grewal, Coinbase’s Chief Legal Officer.

The FDIC has an important role in US financial regulation, primarily dealing with banks. This gave it a starring role in Operation Choke Point 2.0, hampering banks’ ability to deal with crypto businesses. However, it recently started a pro-crypto turn, releasing tranches of incriminating documents and revoking several of its anti-crypto statutes.

Grewal said that he “appreciated the increased cooperation” from the FDIC but that the cooperation stopped weeks ago. According to Coinbase’s filing, the FDIC hasn’t sent any new information since late February and claimed in early March that the exchange’s subsequent requests were “unreasonable and beyond the scope of discovery.”

On one hand, the FDIC has previously been slow to make relevant disclosures in the Coinbase lawsuit. On the other hand, Operation Choke Point 2.0 sparked significant tension within the industry, and a determined group is now aiming to significantly weaken the regulatory bodies involved.

Until the legal battle continues, it’ll be difficult to make any definitive statements. The FDIC will likely have two weeks to respond to Coinbase’s request.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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BlackRock’s Larry Fink Thinks Crypto Could Harm The Dollar

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Larry Fink, CEO of BlackRock, claimed in a recent letter that Bitcoin and crypto could damage the dollar’s international standing. If investors treat Bitcoin as an inflation hedge to the dollar, it could precipitate serious trouble.

However, he was also adamant that the industry offers a lot of advantages, particularly through tokenization.

Larry Fink Sees Opportunity in Crypto

BlackRock is the leading Bitcoin ETF issuer in the US, and its CEO Larry Fink has long been bullish on Bitcoin. However, as Fink described in his most recent Annual Chairman’s Letter to investors, crypto’s best interest doesn’t always align with TradFi or the dollar.

“The US has benefited from the dollar serving as the world’s reserve currency for decades. But that’s not guaranteed to last forever. By 2030, mandatory government spending and debt service will consume all federal revenue, creating a permanent deficit. If the US doesn’t get its debt under control… America risks losing that position to digital assets like Bitcoin,” he said.

To be clear, Fink insisted that he supports crypto and listed some practical problems that he believes it can solve. He expressed a particular interest in asset tokenization, claiming that a digital-native infrastructure would improve and democratize the TradFi ecosystem.

Despite these advantages, Fink recognizes the danger that crypto can present to the US economy if not properly managed. He addressed the longstanding practice of using crypto to hedge against inflation, a wise practice for many assets.

However, if a wide swath of investors think Bitcoin is more stable than the dollar, it would threaten USD’s status as the world reserve currency. A scenario like that would be very dangerous to all of TradFi, and Fink has a particular interest in protecting BlackRock. Such an event would doubtlessly impact crypto as well.

“Decentralized finance is an extraordinary innovation. It makes markets faster, cheaper, and more transparent. Yet that same innovation could undermine America’s economic advantage if investors begin seeing Bitcoin as a safer bet than the dollar,” Fink added.

He didn’t offer too many specific solutions to this growing problem, but Fink isn’t the only person concerned with the issue. President Trump recently suggested that stablecoins could promote dollar dominance worldwide. Even if the dollar is seen as unstable, its adoption within a rapidly growing global industry like stablecoins could help reinforce its strength and relevance.

Of course, there are also drawbacks to Trump’s plan. Larry Fink acknowledged a possible threat from crypto, but continues to espouse its utility. Its benefits are too good to ignore.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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