Unblocking of MATIS cryptocurrency tokens provoked a 6% price drop

As Polygon co-founder Sandeep Neilwal explains, the unlock was planned and affected MATIC tokens that had been locked for over a year.

The 1.4 billion unlocked MATICs are now divided into three groups:

• 640 million MATICs owned by the project team
• 546.6 million MATICs that will go to the project team
• 200 million MATICs to be distributed as rewards

Neilwal also noted that he expects an important announcement from the Polygon team in the coming days.

At the moment, the MATIC price is hovering around $ 0.9 per token. After MATIC fell sharply from its all-time high of $ 2.92 to $ 0.3, it began to grow again. Thus, since mid-May, the token has shown an increase of more than 190%.

MATIC is now approaching an important resistance level of $ 1. However, market experts still recommend waiting for further clarification from Polygon on the unlocking of tokens before increasing positions in MATIC.