MATIC prices are pretty stagnant despite Polygon having a great week
Polygon has the edge in the L2 solution race – by far the most efficient solution on Ethereum. Over time, the network has reached its potential through a series of partnerships and continues to drive it forward. So how has it affected MATIC and can this week’s event produce the same results?
Polygon continues to grow
This week turned out to be the best week in months in terms of Polygon Network investor involvement. Active addresses have been the highest for almost 3 months this week.
This is the result of the network growth over the past 10 days and Polygon is expanding on all fronts.
Within a year, the network has grown from 30 Dapps to over 3000 Dapps, which means that the number of teambuildings in the network has increased by over 61% from month to month. Of all active groups, more than 62% of them chose Polygon as a platform to realize their vision.
Second, Bitwise announced the Polygon Fund, which has more exposure to the solution and improves its DeFi and NFT capabilities.
Finally, Polygon is also expanding into various regions targeting emerging markets, starting with India with the announcement of BUILDIT, India’s largest hackathon with more than $ 100,000 in bonuses.
You want to invest, right?
While this all sounds very optimistic and can certainly boost Polygon’s growth, the ROI is still far from satisfactory. While it overtook BSC with 100 million addresses last week, its performance in the DeFi space has been rather sluggish lately.
The network loses interest among the participants and thus the active addresses also decrease.
In addition, the number of transactions also decreases and the total locked value shows no growth.
In the spot market, MATIC’s 25 percent gain on October 15 sparked significant buying from investors and whales, but in the past two days things have returned to their old trajectory and are now pretty quiet.
In the past, news of network developments has boosted MATIC, but given the non-bullish movements of the broader market, the movement of the native Polygon token should also slow down.
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According to Ambcrypto