- Polygon recorded its highest number of active POS addresses in its history.
- MATIC has regained the $1 price range.
polygon [MATIC] The network recently reached a milestone in address numbers. With this increase, have the number of transactions and MATIC responded accordingly?
Polygon active address sets new record
Polygon Scanner analysis reveals a recent spike in address activity on your network.
According to observed data, the number of active proof-of-stake (POS) addresses exceeded 1 million on February 23rd. This metric reflects the daily number of unique addresses that are active on the network as senders or recipients.
Importantly, this number, recorded on February 23rd, marked the highest number of active addresses seen on the network.
Source: PolygonScan
Also, when analyzed, daily trading chartit was noted that transactions on the network have increased recently.
However, this increase did not reach the peak observed in the number of active addresses. At the time of this writing, the number of transactions per day was over 4.2 million.
Polygon TVL increases slightly but volume remains the same
When we examined Polygon volumes, we found that there was no corresponding response to the spike in active addresses, as well as the number of daily transactions.
chart of Defilama The trading volume in the past 24 hours was approximately $138 million. The trading volume fell short of the highest levels seen in recent weeks, having exceeded $300 million in January.
However, the total value locked (TVL) increased slightly. Analysis shows that TVL began to increase slightly around February 8th, rising from about $850 million to about $870 million as of this writing.
Nevertheless, the increase in TVL is mainly due to the increase in the value of MATIC and other tokens on the network.
MATIC’s eventful week
Polygon rose to $1 on February 20 for the first time since December, up about 2.5%. However, the next day, there was a drop of more than 6%, and the price fell below the $1 level.
Despite an attempt to recover more than 4% by pushing the price closer to $1 on February 22nd, it remained at about $0.9.
Source: Trading View
How much is 1,10,100 MATIC worth today?
Nevertheless, as of this writing, it has returned to the $1 price range, representing an increase of over 2%.
Throughout the fluctuations, MATIC maintained a trend above 60 on the Relative Strength Index. As of this writing, it is close to 65, indicating a solid trend in price.
