With the strong uptrend on Matic, the Polygon network sees a spike in address activity
Interest and activity around the Polygon Network and its MATIC the token appears to continually increase with the number of active addresses increasing again after the token updates the ATH.
Network activity
The Matic token was one of the “hottest” digital assets on the crypto market in December, with a number of active addresses spiking to 15,500 entities after the token reached its last high back at the beginning of December.
Network activity is a metric that shows an almost complete correlation with the price of the asset. According to the chart, traders could see the network activity spike during the market rally.
The only thing that might concern some investors is the unpleasant divergence that we can see between network activity graphs and the asset’s price. While the trend on MATIC could be considered bullish, the network activity chart is clearly showing a descending movement.
MATIC courses
Although the transactional activity and the price of the token may have some differences, due to the speculative nature of the market, more and more traders and short-term investors are looking at the Polygon token in order to achieve a few percent profit in 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 biggest coins by market capitalization, according to CoinMarketCap.
Polygon, also known as the Matic Network, is a platform for scaling and developing the infrastructure of the Ethareum network. Polygon Network provides users with an efficient SDK, which is a tool for building various types of applications or scaling solutions.
