The SEC described Polygon (MATIC) as a security in its lawsuit report against Coinbase, after which volume sales took place on MATIC.
Stating that it recently sued Coinbase, the SEC mentioned many altcoins in this report. Among these altcoins was MATIC. MATIC, which was already in a downtrend, took a more serious hit with this move from the SEC. At the same time, MATIC, which lost 26.67 percent in the last 24 hours, became the most falling coin of the day.
Almost 1 Year Bottom Price Tested
MATIC, which came to $ 0.506, last saw this value in July 2022. The popular coin, which has reached its bottom price for about a year, has also posed a danger to the Polygon ecosystem. The biggest factor that triggered this event was the inclusion of MATIC as a security in the SEC’s lawsuit report filed against Coinbase.
In order to observe the rises in MATIC, the resistance levels that must be overcome are 0.75 – 0.87 – 0.94 and $1.02. The failure of the Polygon ecosystem to recover these events or the continuation of the collapse in the altcoin market value may bring MATIC to the levels of $ 0.50 and $ 0.41.
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