Polygon Registers Major Milestone
Polygon (MATIC) has achieved a significant new milestone, especially in comparison to Bitcoin (BTC) and Ethereum (ETH). According to a performance statistic shared on X by Polygon co-founder Mihailo Bjelic, the total number of active addresses on the layer-2 network exceeds that of Bitcoin and Ethereum combined.
Polygon Picking Small Wins
While it represents a unique asset class, Polygon remains one of the top digital currencies to watch. Amid a price drawdown recorded over the past week, Polygon’s active users jumped by 1.18 million in just 24 hours. In comparison:
- Bitcoin’s active users: approximately 594,000
- Ethereum’s active users: approximately 365,000
These active users highlight various positive metrics for their respective crypto networks. For Polygon, being a smaller protocol in market capitalization does not diminish its recognition as a well-used chain.
With the Polygon network running smoothly despite its massive on-chain transactions or activity, it shows that the efforts of the Polygon team to scale the protocol are not wasted. This validation is crucial for Polygon, especially since its address profitability has been declining recently.
Polygon’s Revival Bid
According to data from IntoTheBlock, 90.62% of all Polygon addresses are currently at a loss, amounting to 627,350 addresses.
MATIC holders are in dire need of recovery, and every positive ecosystem fundamental adds up to the needed trigger. Already, MATIC is responding to some of these key fundamentals as its price has returned to a bullish trend.
At the time of writing, MATIC is up 4.63% in the past 24 hours, trading at $0.5046 according to CoinMarketCap. After falling by more than 9% in the past seven days, this recovery suggests a brighter week ahead.
