Polygon (MATIC) Surpasses Bitcoin in User Growth for 2023
A recent industry report by Flipside Analytics reveals that Polygon (MATIC) experienced a user growth rate that was 50% higher than Bitcoin (BTC) in 2023. While MATIC’s price performance has been lackluster compared to other altcoins, its fundamental growth signals suggest positive price action in 2024.
Polygon Records 15 Million New Users in 2023
Polygon attracted an impressive 15.2 million new user addresses in 2023, ranking second only to Ethereum. This significant increase in new users positions Polygon as one of the fastest growing sectors in the crypto market, outperforming even Bitcoin and its Layer-2 competitors.
Polygon’s Unusually High Transactions from New Users
As these new users begin utilizing MATIC in daily transactions, the organic growth in market demand could have a positive impact on prices in the long run. On average, 37% of Polygon’s daily transactions in the past month were executed by new wallets transacting for the first time.
MATIC Price Outlook for 2024
Polygon’s fundamental growth metrics and key network upgrades indicate its long-term viability and competitiveness within the sector. The transition to a more decentralized POL token and strategic partnerships with Chainlink further enhance Polygon’s adoption and growth prospects in 2024.
Hot Take: MATIC Short-Term Price Prediction
While MATIC shows promise for positive price movement in 2024, it currently faces resistance at $0.80. If the bulls can break above this level, it could lead to a retest of the $1 area.
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