Activity levels on the Polygon network soared to all-time highs. How will MATIC be affected by this surge in activity?
Proof of Stake network achieved a new milestone, with its daily active addresses hitting a record high of 1.23 million.
This marks a significant achievement for the PoS chain, which has maintained over 1 million daily active addresses for a continuous span of 20 days.Due to the heightened activity on the network, Polygon’s TVL also grew. The increased TVL contributes to the overall liquidity of the Polygon network. This liquidity is crucial for the smooth functioning of DeFi protocols, enabling users to trade, lend, borrow, and participate in yield farming activities efficiently.
A higher TVL also implies more assets available for use within the ecosystem, potentially attracting more users and projects seeking to leverage the liquidity and functionality offered by Polygon’s blockchain.AMBCrypto’s analysis of Dune Analytics’ data indicated that the volume at which Polygon NFTs were being traded on marketplaces remained high.
This indicated that, despite market fluctuations and changes in sentiment, Polygon’s NFT ecosystem maintained a consistent level of interest and engagement among users and collectors.At press time, MATIC was trading at $1.211696 and its price had grown by 1.05% in the last 24 hours. Its Network Growth had also surged, indicating that new addresses holding were showing interest in MATIC.Himalay is a full-time journalist at AMBCrypto.
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