Over the past three months, the fundamental network statistics of Polygon (MATIC) have flattened, indicating a slowdown in growth. The captured value of the blockchain has also partially declined in the past few weeks. As the blockchain plans a major update, the table could turn in favor of Polygon in the coming months.
Polygon On-Chain Data!
Artemis’ data indicates that several important PoaÄŸ statistics, such as daily active addresses, have remained stagnant for three months. Additionally, the daily transaction count has not increased significantly. While this indicates stable network activity, it also suggests that blockchain growth has been halted. There has also been a slight decrease in fees and revenue for the blockchain.
Polygon announced its next step in the crypto space a few weeks ago, called Polygon 2.0. The upgrade has significant potential and can help accelerate the growth of MATIC in the coming months. Today In Polygon recently tweeted highlighting several advantages and benefits of the update. The Community Treasury is an innovative on-chain ecosystem fund managed by community governance. It is designed to bring three major advantages to the blockchain: self-sustainable economic support, reduced dependence on Polygon Foundation, and enhanced decentralization, transparency, and community participation.
Polygon Price Future!
As the capabilities of the blockchain improve and become more transparent, it can accelerate growth by attracting new users. Another major change could be the release of MATIC’s successor, POL. The blockchain envisions POL as a tool for ecosystem coordination and growth.
In addition, market sentiment around MATIC has been gradually increasing. This can be clearly seen from LunarCrush data, which shows that the bullish sentiment around MATIC increased by over 25% last week. The same increasing trend was followed by optimistic social engagement, and Polygon’s price also saw a slight increase last week. According to CoinMarketCap, MATIC has increased by over 1.3% in the last seven days. It was trading at $0.6806 with a market value of over $6.3 billion at the time of writing. As CryptoQuant data indicates a decrease in MATIC’s exchange reserves, things could improve further in the coming days. A decrease in this metric could mean an increase in buying pressure in the altcoin market.
