MATIC, the native token of the Polygon network, has witnessed a significant decline in its value. It has fallen by more than 10% in the past week and 8% in less than 24 hours as the general cryptocurrency market continues to grapple with a cloud of negative sentiment. Fortunately, the latest on-chain analysis has revealed the important levels that investors should look out for following the latest decline in the MATIC price. Over 10,900 Addresses Bought 600 Million Polygon Tokens At This Price According to a recent post on X by crypto pundit Ali Martinez, the price of MATIC has established a key support around its current price point. This evaluation is based on analytics firm IntoTheBlock’s on-chain data, which tracks the average acquisition price for any given wallet address. The distribution of the Polygon token supply across various price ranges | Source: Ali_charts/X Above is the chart highlighted by Martinez that shows the distribution of the Polygon token supply across various price ranges. The size of the dots in the chart represents the magnitude of coins purchased aro ..
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