Price Analysis

Is This Driving The Growth Trajectory Of Polygon Network This Market Cycle?

Written by: Elena R

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Dec 9, 2021

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Highlights

    The Polygon community remains exhilarated as the zk-summit arrives around the block.

    Industry exponent illuminates on the startling growth metrics of Polygon

Polygon network is currently the talk of the crypto town, amidst the hush prevailing from the supercycle. Polygon has always been one of the top picks of traders from the crypto fraternity. The Ethereum sidechain has been thriving with the on-chain metrics recording positive numbers.

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An industry proponent illuminates the startling growth of the blockchain. The network has been witnessing an influx of adoptions, acceptance, and integrations at a steady pace. The growing utility of the blockchain has been astounding for masses in the industry.

Polygon’s Gallop On The Sand Dunes?

Polygon has been surfing despite the plight of the market trends. The scheduled zk-summit which CoinPedia had earlier reported has been garnering the interest of the masses in the community.  A protagonist from the industry enlightens on the growth trajectories of the blockchain. 

The protagonist cites that MATIC sets 4th consecutive ATH in revenues. The engagements from the network continue to excel, as the current week notches at an increase of 3.98% to 353.5k daily active addresses. The bridge data continues to portray positive figures as the overwhelming inflows more than compensate for the spikes in outflows.

Polygon PoS bridge is now the 5th most used dApp on Ethereum, wherein depositors have outpaced withdrawers on the bridge. Polygon has hit another ATH in network revenues claiming the $100k per day milepost for the first time. The proponent believes Polygon’s continual growth is due to sustained cohort sizes and improving retention.

The polygon network announces ZK Verse, which will be hosting a series of blogs dedicated to all things Zero-Knowledge. The protocol holds the lion’s share in the 1.5 M transactions through Matcha cumulative transactions per chain. In addition, the NFL is working with Polygon on an NFT ticket experiment. The initiative would be in partnership with Ticketmaster.

Polygon (MATIC) Price  

MATIC at press time is trading at $2.32 while scripting losses of 0.8%. The market cap of the digital asset is currently hovering at about $15,960,126,522. The volume of trades for around the clock is currently at $3,313,821,140. The digital asset has been trading in the frequency from $2.27 to $2.58 since the previous day. Inching closer to its ATH of $2.62.

Collectively, Polygon has been raging ahead at an impeccable rate. The prominence of crypto has been flourishing across masses in the industry. Enthusiasts from the community are optimistic of MATIC price claiming the milestone of $4 this altseason. The possibility for which does seem to be on the higher side. 

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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