With the strong uptrend in Matic, the Polygon network sees an increase in address activity
Interest and activity around the Polygon Network and its MATIC token seems to continually increase with the number of active addresses increasing once again after the token updates the ATH.
Matic’s token was one of the “hottest” digital assets on the crypto market in December, with a number of active addresses skyrocketing to 15,500 entities after the token hit its latest high in early December.
🥳 $ MATIChas a new #His highest point of $ 2,875, and address activity continues to show rising stocks and interest around the #PolygonNetwork. Our latest information covers active addresses, network gains / losses, whale behavior, and more. https://t.co/nnBGU3jrst pic.twitter.com/gXmwwrANSj
– Santiment (@santimentfeed) December 26, 2021
Network activity is a metric that shows an almost complete correlation with the price of the asset. According to the graph, traders were able to see the increase in network activity during the market rally.
The only thing that might concern some investors is the unpleasant divergence that we can see between the graphs of network activity and the price of the asset. While the trend in MATIC could be considered bullish, the network activity chart clearly shows a downward movement.
MATIC price action
While the transactional activity and the token price may have some differences, due to the speculative nature of the market, more traders and short-term investors are looking to the Polygon token for a small percentage of the profits during the next rally.
Since the beginning of the month, MATIC has gained more than 40% of its value and has entered the top 15 of the largest currencies by market capitalization, according to CurrencyMarketCap.
Polygon, also known as Matic Network, is a platform for scaling and developing the Ethareum network infrastructure. Polygon Network provides users with an efficient software development kit, which is a tool for creating various types of applications or scaling solutions.