Polygon (MATIC) and OKB are Still Holding Strong
The current Crypto market is in turmoil because FTX is on brink of bankruptcy and Binance will not follow through with the acquisition. FTX's native token, FTT showed a substantial drop within few days. FTT was being traded at around $25 last week and now it is worth a shocking $2.80. Other tokens like Solana, Bitcoin and Ethereum have also shown a sharp nosedive. But some tokens such as Polygon's MATIC and OKX's OKB has shown a brave resilience.
Polygon (MATIC)
In the last couple of days the crypto market has been very volatile that forced a lot of coins lose their previous weeks' gains. But Polygon's MATIC has shown a great resilience in the fight for survival.
Two days ago MATIC was fighting to overcome its $1.30 resistance. After the FTX saga hit, its price plunged to around $0.77 but quickly fought back to raise its price to $0.93 (This is the price while I was writing this post, it might be different by the time you read it). Lately, Polygon was performing really well both in price and acquiring new users but the current situation may become an uncomfortable speed bump.
OKX (OKB)
Among those who are affect by the liquidity issues of FTX is OKX's native taken, OKB. If we evaluate the last 7 days price of OKB, we can see that it stared with $23 and then fell to $17.7. But it quickly gained some of its loss and has a current price of $19.20.
Final Thoughts
Currently, Bitcoin is traded at $17,400, Ethereum at $1,200 and Solana at $16.91 which is a big loss for the crypto market in general. But MATIC and OKB has shown that they have a great fighting spirit. So the big question is that "Can they continue to be resilient?". I think they can but I'm also hoping the rest of the market will follow their lead and fight back all the way to the Bull market.
So what are your thoughts?...... Let me know in the comment section.
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Disclaimer
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
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