Polygon adds 43 million unique titles in 5 months with MATIC up 25% in 1 week

While most of the cryptocurrency market is back in the Red Sea, Polygon (MATIC) is posting double-digit weekly and monthly gains, along with significant growth for its network in recent months.

As it happens, Polygon added 42,869,034 unique addresses to its chain between June 7 and November 7, 2022, according to data collected by Coinphony from Polygon Network Explorer. polygon On November 8.

Unique addresses on a polygon grid. source: polygon

In other words, the Proof-of-Stake (PoS) network added more than 280,000 unique addresses per day on average, an increase of about 30% over the five-month period, the data shows.

Matic Price Analysis

Meanwhile, Polygon’s MATIC token posted significant gains, increasing its price by 27% over the week, adding to a monthly gain of 40.03%, despite declining by 4.83% in the past 24 hours. It is currently trading at $1.14.

7 day polygon price chart. source: quinphone

As previously reported by Coinphony, MATIC emerged as the biggest gainer among the top 100 digital assets by market capitalization after rising nearly 5% in 24 hours and 30% on the weekly chart.

Despite its recent advances, the crypto community is not very optimistic about the price of Polygon in the near future, with a vote on CoinMarketCap Price estimating tools anticipate that it will trade at an average price of $0.9053 at the end of November and $0.9086 at the end of the year.

Why this growth?

In particular, the price and network increases can be attributed to mainstream companies incorporating the chain into their operations, including Meta (NASDAQ: META), which offers a pressure-backed tool and sells non-fungible tokens (NFTs) to Instagram users.

In addition, JPMorgan Finance (NYSE: JPM) has successfully completed the first cross-border decentralized finance (DeFi) transaction on the Polygon blockchain. Other big names that use Polygon in their systems include coca cola (NYSE: KO), Starbucks (NASDAQ: SBUX), Draft Kings and Reddit.

warning: The content of this website should not be considered as investment advice. Investments are speculative. When you invest, your capital is at risk.

Polygon post adds 43 million unique titles in 5 months with MATIC up 25% in a week debuting on Coinphony.

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