The Age of Polygon
Polygon, an Ethereum-based layer-2 scaling solution, is gaining attention as its network reaches a significant milestone. According to co-founder Sandeep Nailwal, the network’s Daily Active Addresses have surged to 500,000 users per day, reaching their highest level since October.
Data from Artemis, an institutional crypto insights provider, reveals that Polygon PoS has seen a significant increase in daily active users. As of January 3, there were 519,970 users, up from a low of 247,200 on November 24.
Artemis data also shows that Polygon PoS has not reached this user count level since at least October 22 when it was at 543,290. The protocol has demonstrated promising performance in other areas as well.
Is MATIC Set to Soar?
Polygon’s native token MATIC is experiencing a major recovery and has risen by over 3.3% in the past 24 hours to $0.8841. Despite a recent retracement due to false reports about the rejection of a spot Bitcoin ETF, the network trends within Polygon are potentially driving increased demand for MATIC.
This growing demand could put upward pressure on the token’s price. Additionally, with the excitement surrounding the upcoming upgrade of MATIC to POL, there is potential for a parabolic surge in the token’s price.
Hot Take: The Rise of Polygon and MATIC
Polygon’s impressive growth and network milestones are positioning it as one of the leading layer-2 scaling solutions in the crypto space. With its high number of daily active users and plans to transition to zkEVM Validium L2, Polygon is solidifying its position in the decentralized finance sector.
Furthermore, the recovery and potential surge in MATIC’s price indicate a positive outlook for investors. As the crypto market continues to evolve, Polygon and its native token MATIC are worth keeping an eye on.
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