Altcoins
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Altcoin Polygon (MATIC) on the night of Friday, May 26, rose to $0.008. Over the past day, the capitalization of MATIC jumped by more than 5% to $8.218 billion.
The growth in the value of the cryptocurrency was a direct result of a surge in network activity, experts say.
According to the Glassnode platform, over the past few days, the largest number of addresses have been registered on the Polygon blockchain in two years.
For example, on May 22 alone, 556 new wallets appeared on the network. The last time this happened was in February 2021.
The Polygon ecosystem is rapidly expanding thanks to low transaction fees. Interest in it grew after fees on Ethereum reached a yearly high.
The total number of addresses on Polygon exceeded 1.83 million. Compared to the beginning of 2023, it has skyrocketed by more than 10%.
Over the past 12 months, the total number of wallets on the blockchain has grown by almost 40%, analysts emphasized.
The popularity of Polygon is also growing thanks to the partnership of blockchain developers with giants such as MastarCard.
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