MATIC cryptocurrency faces severe effects from the current bearish market trend. It loses over $1 billion in market cap since February 23rd, despite growth in the GameFi sector.
On-chain data shows GameFi is growing in importance for the ecosystem, accounting for a significant percentage of fees spent, active addresses, and transactions.
However, DeFi on Polygon is slowing down, leading to losses for major protocols like AAVE. MATIC’s current price movement has great support, potentially breaking through resistance levels in the coming days.
