MATIC and OP registered massive drops in the same period. Notably, MATIC, classified as a security by US SEC, dropped from $0.90 and only steadied near $0.50 in the same period. That’s a 44% drop because of BTC’s losses and U.S. regulatory pressure.
The BTC upswing saw OP hike over 40%, reversing all losses from early June. But MATIC only gained about 20% and hit $0.67, way below its $0.90 before US SEC labelled it security. So, OP outperformed BTC and MATIC during the recovery. Ripple Labs’ win also boosted MATIC. It soared closer to $0.90 . But both tokens faced price rejection after BTC’s sharp drop towards its range-low of $29.5k in the past few days.A likely hawkish stance could exert a little bearish pressure during next week’s FOMC meeting. MATIC could play defense on the $0.757, a December low aligned with a recently invalidated bearish OB.
Unfortunately, both tokens must clear crucial overhead roadblocks to reclaim key psychological levels of $1 and $2 to show extra bullish intent in Q3.Based on Santiment’s 90-day Mean Coin Age metric, we can infer that OP has more potential upside than MATIC at the time of writing. For perspective, the metric tracks the movement of tokens across addresses.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CryptoAmb - 🏆 22. / 68 Read more »