The Polygon network observed a surge in stablecoin flow, impacting DeFi positively. The upcoming hardfork could reduce gas fees for users. The flow of stablecoins surged on the Polygon [MATIC] network over the last few days, impacting the DeFi space positively.One of the key areas of growth for Polygon was its Total Value Locked (TVL), […]
However, despite the growth of Polygon in the DeFi market, its NFT marketplaces witnessed a decline in terms of volume, based on Dune Analytics’ data. This decline in NFT volume could signify that Polygon’s NFT marketplaces were not as popular as other protocols in the space.However, interest in Polygon’s dApps remained consistent. Over the last month, dApps such as Planet IX and Quickswap observed a spike in the number of unique active wallets on their platform.
According to dApp radar, Planet IX observed a surge of 26.19% in terms of unique active wallets and Quickswap observed growth of 1.25%. This suggested that users were still actively using and engaging with dApps on theThe volume of MATIC grew from $484 million to $537 million in a month. However, the daily activity and transaction count declined at press time, suggesting that there was a decline in token activity.
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Assessing if MATIC can defend Polygon in Solana market value flipPolygon reclaimed the number 10 spot after Solana briefly positioned there as its market cap surpassed $9 billion. MATIC could continue in the green direction irrespective of the PoS hardfork. Polygon [MATIC] displaced Solana [SOL] off the 10th position on the market capitalization standings according to information from CoinMarketCap. The ousting happened despite SOL recording […]
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