Can MATIC reach $2 with two new products lined up for release

ambcrypto.com:

Polygon Network is an emerging cryptocurrency working on a scalability blockchain platform. Its native token, MATIC, is an Ethereum ERC-20 token that powers Polygon.

Polygon has had solid fundamentals and compelling use cases, so traders have been optimistic about it. However, of late the token has been bothering investors.

MATIC token appeared to be bottoming out after declining by more than 58% from its all-time high. However, the said token was trading just shy of the $1.65 mark; it even suffered a 2% correction in 24 hours.

Source: CoinMarketCap

Despite the apparent red picture here, on-chain data shows a significant supply barrier ahead that might prove otherwise.

IntoTheBlock’s In/Out of the Money around price model revealed that more than 27,500 addresses previously purchased over 3.41 billion MATIC at an average price of $1.72. As evident here, 48.25% registered gains compared to 41.55% that witnessed a loss.

Source: ITB

Even though gain share was more significant than the latter, MATIC still needed a trigger to convince the red ship sailors to jump the wagon.

Polygon teased its community about two massive products set to be released shortly. It also added some hints looking at its multichain ecosystem, leaving the community in disarray. In a 25 March tweet, the team added,