Polygon recorded more than a million daily active addresses on average last month, with just two days experiencing less than 1 million users.
The proof-of-stake network recorded more than a million daily active addresses on average last month, with just two days experiencing less than 1 million users, according to AMBCrypto’s analysis of Artemis’ data.Since the beginning of 2024, the number of users interacting with Polygon has more than doubled.
This was a sharp turnaround from the drought of last year’s bear market, when daily active addresses fluctuated between 300k and 400k.The current levels were closer to 2023 peaks, meaning that losses made last year have been effectively erased. The next target would be the $2 billion-mark hit in August 2022, and subsequently the all-time high of $9.8 billion in June 2021.
But despite Polygon’s exploits on the network front, the native token MATIC continued to trend lower. The 17th largest cryptocurrency plunged 12% over the week, and more than 21% in the last 30 days, according toInterestingly, large whales, i.e, those with holdings of more than 100,000, sold their MATICs in this period. These were likely scooped by smaller whales with wallet size between 1,000–100,000.Aniket Verma works as a journalist at AMBCrypto.
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