Assessing Polygon’s rally as record burns collide with POL’s profit-taking risks

TL;DR:

Onchain data showed that holders were back in profit, which could add to the profit-taking pressure in the coming days.

Key Points:

Background:

Cryptocurrency markets continue to evolve with new developments affecting the broader digital asset ecosystem.

Why It Matters:

This development could influence MATIC price action and market sentiment in the near term.