Polygon Records Over 1 Million Active Addresses – Impact On MATIC Price

Polygon Records Over 1 Million Active Addresses – Impact On MATIC Price


The Layer-2 scaling solution for Ethereum, Polygon (MATIC), is currently going through a strange circumstance. The quantity of network activity has increased significantly, but the cryptocurrency’s price is still unpredictable. It’s stuck in a rut, held back by both a possible technical breakthrough and a chronically pessimistic outlook.

Polygon: Can Active Addresses Raise The Bar?

Polygon’s network was humming on July 8th, with an astounding 1.18 million active addresses. For the same period, this easily outpaced Ethereum (365K) and Bitcoin (594K). The increase in user activity stoked expectations of a positive breakout, especially as MATIC was trading over a crucial $0.50 barrier level.

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Co-founder of Polygon Mihailo Bjelic excitedly provided this statistics, emphasising the increasing use of the network. Some cryptocurrency fans, meanwhile, were

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