• Polygon community has seen a surge in RWA curiosity, together with a latest ECB trial. 
• MATIC traction on the price charts has slowed barely, with $0.51 as a key price degree. 

Polygon [MATIC] founder Sandeep Nailwal has acknowledged rising Actual World Asset (RWA) curiosity within the Ethereum [ETH] L2 community. His remarks adopted the European Central Financial institution’s (ECB) latest bond issuance trial.  

‘So many RWA’s launching on Polygon organically could be very encouraging…Polygon POS is already second solely to Ethereum mainnet when it comes to the RWA worth created.’

Nevertheless, in keeping with RWA.xyz knowledge, the assertion was overstated. The platform confirmed that Polygon was the fifth-largest community primarily based on whole market cap, particularly within the US tokenized securities market. 

Will the RWA curiosity enhance MATIC price?

The rising RWA curiosity revealed some optimistic community results, as denoted by a surge in MATIC’s day by day energetic addresses, per Sentiment knowledge.

Moreover, the information replace on the ECB trial on the community flipped MATIC’s Weighted Sentiment to optimistic. Nevertheless, the metric dropped in direction of the impartial degree as of press time, which might dent market sentiment on MATIC. 

On the time of writing, the day by day energetic deal with additionally tanked, which might derail additional price upside with fewer customers partaking with the altcoin. 

MATIC restoration cooled off

Supply: MATIC/USDT, TradingView

On the price entrance, MATIC surged 3% on nineteenth July after Nailwal’s remarks. Nevertheless, MATIC’s total restoration in July stalled above $0.55 and retraced to $0.51. The combined studying on key price chart indicators signaled merchants’ warning. 

Notably, the RSI (Relative Energy Index) recovered however remained muted under the common degree (50). It meant that the latest restoration didn’t collect sufficient shopping for stress to ensure a stronger upside. 

Moreover, CMF (Chaikin Cash Move) was above common however hovered close to the equilibrium degree, denoting inflows surged however stagnated up to now few days. 

The above readings prompt that MATIC might wrestle to interrupt the overhead hurdle and day by day order block above $0.55 (crimson). 

Nevertheless, the $0.51 degree was additionally a vital demand curiosity degree, as proven by the chart and whale order knowledge. 

Supply: Coinglass

The bounce at $0.51 was marked by about $26 million in purchase orders within the derivatives market on Binance trade. Moreover, demand surged within the MATIC spot market, with over $500K in bids on the degree. 

Therefore, given the whale curiosity and big quantity at $0.51, it was a vital degree for any MATIC speculator searching for market entry into the altcoin.