A notable shift is underway in the world of decentralized finance (DeFi) as stakers are making a decisive move from Polygon (MATIC) to the TMS Network, and the motivations behind this transition are clear. The departure from Polygon (MATIC), a once-prominent platform, is driven by compelling factors that have captured the attention of DeFi enthusiasts. The emergence of the TMS Network (TMSN) has sparked excitement and enticed DeFi stakers to explore greener pastures for better opportunities!
Polygon (MATIC) Price Analysis – Bears Seem to Take Over
The recent performance of Polygon (MATIC) has seen a significant downturn in the last month. Over the past 30 trading days, MATIC experienced a substantial decline in value from $1.17 to $0.84 or a drop of approximately 32.26%.
Moreover, on-chain data reveals a concerning trend of investors withdrawing funds from the Polygon (MATIC) ecosystem following the completion of Ethereum’s Shanghai Upgrade.
Since April 13, approximately 92 million MATIC tokens (equivalent to 1% of the total circulation supply) have been unstaked from various smart contracts. The decline in the percentage of MATIC staked in smart contracts began just a week before the Shanghai Upgrade, increasing the supply of tokens available for trading on exchanges.
This departure of stakers has raised concerns about the future trajectory of the Polygon (MATIC) price, leading to bearish predictions among traders. If the supply surpasses demand, it could exert downward pressure on the Polygon (MATIC) price.
The bearish price predictions for Polygon (MATIC) could materialize unless investors begin to withdraw coins from exchanges. If staking dynamics fail to improve, IntoTheBlock’s In/Out Money Around Price data suggests a potential retracement of Polygon’s price towards $0.75.
Simply put, should the bears successfully surpass the support level of $0.83, the Polygon (MATIC) price will likely decline to around $0.75. Nevertheless, the bulls have an opportunity to invalidate the negative predictions by pushing the Polygon (MATIC) price above $0.90.
TMS Network – Nothing but Bullish Forecasts Ahead
TMS Network (TMSN) emerges as the groundbreaking solution to address the pressing challenges traders face today. This state-of-the-art, purpose-built decentralized trading platform is the first of its kind, combining the worlds of cryptocurrency and derivatives to revolutionize the trading experience.
By tackling issues such as price uniformity, high fees, price manipulation, wash trading, transaction delays, inadequate trading experiences, and the lack of trading education, TMS Network (TMSN) provides a comprehensive solution for traders seeking a seamless and secure trading environment.
With TMS Network (TMSN), traders can easily connect their wallets and engage in trading activities. The user-friendly interface and intuitive features that TMS Network (TMSN) provides enable smooth trading experiences, accompanied by the flexibility to withdraw funds directly to the wallet.
To ensure optimal trading results, TMS Network (TMSN) introduces trading bots and a strategy builder equipped with a robust back tester, empowering traders to minimize emotional decision-making and maximize their trading strategies’ efficiency.
TMS Network (TMSN) represents a paradigm shift in the trading industry, where traders are no longer limited by traditional barriers. During the public presale in progress, the TMS Network (TMSN) native token is trading at $0.088 and has displayed an astonishing increase of 4300% from its initial price.
Experts anticipate that the TMSN token could experience a 100x surge in value before the end of 2023, positioning TMS Network (TMSN) as a highly attractive investment opportunity, capturing the attention of investors in an increasingly competitive crypto landscape.
Explore the TMS Network presale here:
Presale: https://presale.tmsnetwork.io/
Website: https://tmsnetwork.io/
Telegram: https://t.me/tmsnetworkio
Twitter: https://twitter.com/tmsnetwork_io
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Source: https://coinpedia.org/press-release/defi-stakers-are-moving-on-from-polygon-to-tms-network-and-its-for-a-reason/