On-chain data shows Polygon (MATIC) is currently inside the same buy zone that earlier led to rallies of around 112% and 87% for the asset. Polygon 30-Day MVRV Ratio Is Significantly Negative Currently As pointed out by analyst Ali in a post on X, MATIC is showing a historically bullish pattern in its 30-day MVRV ratio. The “Market Value to Realized Value (MVRV) ratio” here refers to an on-chain indicator that keeps track of the ratio between the Polygon market cap and realized cap. The realized cap is a capitalization model that calculates the total valuation of the cryptocurrency by assuming that the “real” value of any coin in circulation isn’t the current MATIC spot price, but rather the price at which it was last transferred on the blockchain. Related Reading: Dogecoin Whale Takes $52.3 Million In DOGE Off Binance, Sign Of Buying? Considering that the last movement of any coin was the last time it changed hands, the price at its time would serve as its current cost basis. As such, the realized cap essentially sums up the cos ..
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