As part of Polygon’s plan, 1.4 billion MATIC tokens were unlocked from the vesting contract this morning. This volume is equivalent to 14% of the total token supply, or 10 billion MATIC. Meanwhile, if CoinMarketCap data is to be believed, the total circulating supply of the token equals 8.035 billion MATIC.
As Polygon co-founder Sandeep Nailwal objašnjava, the unlocking was planned and affected MATIC tokens that were blocked a year ago. Interestingly, despite the end of the vesting period in April of this year, the tokens have only been claimed now.
Ovo je bilo planirano pomjeranje tokena koji su prema sticanju otključani prije godinu dana. To su kolci, fondacija itd.
Ako imate nedoumica, pročitajte više o najavi.??
Jedna velika najava sutra u vezi sa istim?✌️ https://t.co/szSaa0P76G https://t.co/yNt5lxkEaa
— Sandeep | Poligon ??3️⃣ (@sandeepnailwal) Avgust 1, 2022
The 1.4 billion unlocked MATICs are divided into three groups, of which:
- 640 million MATICs belong to the project team
- 546.6 million MATICs go to the project team
- 200 million MATIC are distributed as a reward for staking
Nailwal also said to expect a velika najava from the Polygon team about MATIC vesting in the following days.
Aplikacije
MATIC price review
The crypto market certainly reacted to such a large-scale emergence of new MATIC tokens from the vesting. The token momentarily fell by 6% but managed to recover its quotes in a couple of hours and win back half of the fall.
At the moment, MATIC’s price is hovering around the mark of $0.9 per token. After MATIC plummeted from its all-time high of $2.92 by over 90% to the $0.3 level, it began to rise steadily, fueled by dobre vijesti. As a result, since mid-May, the token has shown an increase of more than 190%.
MATIC is now approaching the important $1 dollar resistance level, but it is worth waiting for further clarification from Polygon regarding unlocking tokens before gaining MATIC positions.
Source: https://u.today/14-billion-matic-tokens-issued-in-just-1-hour-price-reacted-with-6-fall