✅Polygon (Matic)🔥
vesting contracts are officially short, will this make the price of MATIC rise to $3?🔥🚀
🎯Like Xu Long other crypto projects, the Polygon network's native Token MATIC is granted a partial supply to the team over a period of time. In the case of Polygon, the vesting period is five years, and since 2019, Token Unlock takes place on a regular basis. However, the unlocks that usually act as a deterrent to investors have now come to an end, as the last batch has just been released to the team.
🎯On Wednesday, February 21, the Polygon Foundation received the last portion of the vesting Token from the vesting contract. In total, 273,304,816 million MATIC Token were released into the Foundation's Wallet, worth $260 million.
🎯THIS UNLOCK MARKS THE LAST UNLOCK THE FOUNDATION WILL RECEIVE, MEANING THAT ALMOST ALL AVAILABLE MATIC SUPPLIES ARE NOW IN CIRCULATION. The latest unblocking brings the circulating supply of Crypto Assets to 9,618,318,574, while its Maximum Supply is 10,000,000,000. As a result, Polygon's Market Cap is just over $9.14 billion, with a fully diluted valuation (FDV) of approximately $5 billion.
🎯In fact, the entire supply of MATIC is now in circulation, which is long for digital assets, especially in the long term. Inflation is a factor that tends to drive investors away and discourage them from holding Token because they fear that more Long Token will enter circulation, causing supply to exceed demand.
🎯The full supply is now in circulation, which gives the MATIC price access to price discovery. However, there are still concerns about when the Polygon Foundation will start selling their Tokens, as all unlocked Tokens are still stored in the Foundation's Wallet.
🎯The current MATIC Token is trading at $0.95, representing a 24-hour gain of 1.11%. Although its performance is far from encouraging, the Token is only 67% below its all-time high of $2.92 in 2021.📈
🎯 Keep on eyes 👀
$MATIC
