Explore the trends and sentiment within Polygon’s market, uncovering the factors influencing Polygon (MATIC) price prediction.

Polygon (MATIC), the largest layer-2 blockchain platform with a market capitalization of over $8 billion, has experienced significant fluctuations in its price since the beginning of 2024.

MATIC reached a monthly high of $0.955 on Jan. 11 as Bitcoin (BTC) spot ETFs received approval from the U.S. SEC, and market momentum turned positive. 

However, amid ongoing volatility, MATIC’s price declined to $0.6933 on Jan. 23. As of Feb. 9, MATIC is trading at around $0.84.

A recent finding reveals that in 2023, Polygon witnessed a substantial increase in user addresses, totaling 15.2 million, cementing its position as a leading blockchain platform after Ethereum (ETH). 

Compared to Bitcoin, which acquired 10.6 million new user addresses in the same period, Polygon’s growth exceeded it by 50% in terms of user addresses.

Arbitrum (ARB), Optimism (OP), and

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Author: Ankish Jain

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