• The increase in active addresses caused Polygon’s daily transactions to spike.
• MATIC moved marginally, but whales’ confidence in the token was high. 

Polygon [MATIC] witnessed a major uptick in its network activity on 8 September, even as the crypto market remained somewhat passive. The hike in its network activity directly meant more usage, which looked encouraging, especially in the current market condition. 

Is your portfolio green? Check out the MATIC Profit Calculator     

A closer look at the blockchain’s ecosystem pointed out a few updates that could help further boost network activity in the days to follow. However, these updates have yet to be reflected on MATIC’s price, as its chart continued to move sideways. 

Polygon is gaining momentum

On 8 September, X (formerly Twitter) account Today In Polygon pointed out that in just two weeks, the blockchain’s daily active addresses surged by more than 26%.

JUST IN:

Polygon PoS daily active users have increased 26% over the last 2 weeks. pic.twitter.com/YqPKfKKkpL

— Today In Polygon (@TodayInPolygon) September 8, 2023

This was further established by Artemis’ data, which revealed that after a dip on 27 August, MATIC’s active addresses gained upward momentum. Thanks to the increase in addresses, the blockchain’s daily transactions also went up during the same period. 

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Author: Dipayan Mitra

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