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The interest in the Polygon Network and its MATIC token is accompanied by an increase in the number of active addresses, which is especially noticeable after the price renewed its record high in early December.
Santiment’s Twitter account notes that the number of wallets increased to 15,500 during this period.
🥳 $MATIC’s got a new #AllTimeHigh of $2.875, and address activity continues to show the increased action and interest surrounding the #PolygonNetwork. Our latest insight covers Active Addresses, Network Profit/Loss, Whale Behavior, & more. https://t.co/nnBGU3jrst pic.twitter.com/gXmwwrANSj
— Santiment (@santimentfeed) December 26, 2021
Network activity is an indicator that almost always shows a complete correlation with the price of an asset. The chart above shows that there was a surge in network activity during the price rally.
True, at the end of the curve there is a discrepancy between both indicators, which potentially indicates a downward movement.
According to CoinGecko, MATIC has grown by more than 40% since the beginning of the month and entered the top 15 largest coins by market capitalization.
Polygon, also known as Matic Network, is a platform for scaling and developing the infrastructure of the Ethereum network. The project also provides users with a software development kit, which is a tool for building different types of applications or solutions for scaling.
#Price #Records #Matic #Increases #Number #Active #Addresses
