• Polygon’s MATIC token has fallen out of the top 10 cryptocurrencies, while Solana (SOL) has reentered the list.
• MATIC is down 15% in the past week despite Polygon announcing bullish partnerships, such as Franklin Templeton, Sotheby’s and Sports Illustrated.
• SOL had a long hiatus from being in the top 10 due to its FTX crisis, but it is now trading at $20.27 with a market cap of $8.96 billion.
Polygon Pushed Out of Top 10 Cryptocurrencies by Solana
MATIC on Downward Trend
Polygon’s native token MATIC has had a difficult time in the past week or so and is down double percentage points according to data from CoinGecko. Despite Polygon announcing bullish partnerships with companies such as Franklin Templeton, Sotheby’s and Sports Illustrated, MATIC still fell out of the top 10 cryptocurrencies list and gave way for Solana (SOL) to reenter it. MATIC is currently trading at $0.84 and has a market cap of $7.81 billion.
Solana Reenters Top 10 Cryptocurrencies List
Solana’s native currency SOL is back in the top 10 cryptocurrencies list after overtaking MATIC on Friday with $150 million more in market cap than its rival. This was mainly due to an FTX crisis which saw SOL nuke more than 95% from its all-time high of $259.96 to around $9; however, it is now trading at $20.27 with a market cap of $8.96 billion – though this is still 7.4% lower than last week’s rate.
The Future for Both Tokens?
It remains to be seen whether both tokens will continue their downward trends or if either will manage to make it back into the top ten again soon – only time will tell! Either way, both projects have made some impressive steps forward by forming successful partnerships with well-known businesses like Franklin Templeton and Sotheby’s which could help them stay afloat during these turbulent times for crypto assets overall..
Conclusion
In conclusion, Polygon’s MATIC token has been pushed out of the top 10 cryptocurrency list by Solana (SOL), which reentered after months away due to an FTX crisis that caused its price to drop significantly before recovering somewhat recently – though not enough yet to get back into double digits after losing almost 95%. It remains uncertain what direction these two tokens will take next but one thing is certain: they are both worth keeping an eye on!
