MATIC tests the price of 8 months of support as Polygon unveils its fresh management center

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Polygon’s native token, MATIC, has experienced a noticeable divergence from the broader cryptocurrency market. Unlike the most popular cryptocurrencies that have published double-digit profits year-to-date, MATIC has not recorded positive performance in all time frames since the 2021 bull run.

Adding to the concern is the fact that the MATIC price has recorded losses of 16.5% over the last seven days. This downtrend prompted the token to test a key macro support level, raising questions about its future trajectory.

In featherlight of these developments, Polygon announced a strategic partnership with Aragon, the developer of decentralized autonomous organizations, to introduce a “management hub” for the Polygon community.

Simplified management center for polygon?

According to a recent one blog post Thanks to its Layer 2 solution protocol, the management center is “designed to empower” users and developers, enabling them to influence the fundamental development of Polygon technology. According to reports, the center will be developed in phases in collaboration with Aragon to ensure that community feedback is taken into account to create a decentralized platform in line with the community’s values.

The management center will feature a unified interface for Polygon’s “two core pillars” of management: protocol and system sharp contract management.

Fresh framework for the management center proposal. Source: Polygon

The center aims to enhance transparency and encourage greater community participation in the management of the protocols. In terms of systemic sharp contract management, it introduces an improved framework that prioritizes structured decision-making processes while maintaining transparency and security.

Additionally, Aragon will leverage its expertise to build the Polygon Governance Hub using Aragon OSx. This tool allows you to build a personalized chain management solutions that can be customized over time thanks to a modular, plug-in-based architecture. Polygon stated in its announcement:

Polygon and the entire associated network architecture require malleable, see-through and future-proof management mechanisms and tools. The Polygon Management Center is critical to achieving this goal.

MATIC’s market capitalization is falling dramatically

Despite developers’ focus on community management within the Polygon ecosystem, key indicators point to a steady decline in the MATIC token price over the past year.

For example, a token market capitalization saw a significant decline, reaching almost 50% in just three months. It was valued at $9.9 billion in March and is currently valued at $5.6 billion. This decline suggests a potential shift of capital towards other large-cap tokens or profit-generating activities.

Moreover, according to CoinGecko, MATIC trading volume has also seen a noticeable drop of around 18% in the last 24 hours data. Trading volume is currently just $293 million. Moreover, MATIC has seen a significant 80% drop from its all-time high of $2.92 in December 2021.

The token is currently undergoing a critical test at the 8-month support level, as shown in the MATIC/USD daily chart below, with the current trading price at $0.5982. Should the price continue to fall without a significant catalyst driving it forward upward trend and price rebound, pay attention to the next support level at USD 0.5700.

The daily chart shows the MATIC price falling towards 8-month support. Source: MATICUSD on

The future trajectory of the MATIC price remains uncertain and it remains to be seen whether there will be a further downward move or a rebound at the current level of support, offering potential opportunities for bullish investors.

Featured image from DALL-E, chart from


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