Biggest Movers: MATIC Drops by 10%, ATOM Hits 2-Week Low – Market Updates Bitcoin News

Polygon fell by over 10% on Feb. 13, as a red wave swept through cryptocurrency markets during Monday’s session. Volatility was high ahead of Tuesday’s U.S. consumer price index release, and with the depegging of BUSD. Cosmos also traded lower to start the week, hitting a 14-day low.Polygon dropped by as much as 10% to start the week, as the global cryptocurrency market cap plunged on Monday.

Currently, the index is tracking at 53.53, which is its weakest reading since January 8, when polygon was valued at $0.79. Should momentum continue to decline, a floor at 50.00 could be where MATIC bulls find stability, as they begin to prepare for future rallies.

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