• Polygon MATIC surged 16% in the past week, reaching a 48% surge since late December last year, with a current value of $1.09.
• The increase in daily active users was fostered by the recent partnerships announced over the past months, as well as launches such as the most recent one yesterday, via an AMA with Ovix Protocol.
• A Polygon crypto whale sold MATIC tokens worth $7.7 billion on 8 January, leaving tokens worth $23.7 million in the address.
The cryptocurrency market has been experiencing a surge in prices in the past few weeks, and Polygon MATIC has been no exception. In the past week, MATIC has surged by 16%, now priced at $1.09 at the time of writing. This marks a 48% surge since late December last year, making it the second-largest asset per daily active users, recording over 344,000 users trailing behind Binance’s BNB. The token has a $1.19 billion trading volume with a $9.4 billion market cap.
The increase in daily active users of MATIC was fostered by the recent partnerships announced over the past months. In addition, MATIC also did launches, such as the most recent one yesterday, via an AMA with Ovix Protocol. The AMA explored 2023’s largest DeFi natives, LSD, and zero-knowledge EVM (zk-EVM). Polygon DeFi Native projects such as GainsNetwork_io and Giddy DeFi are among Polygon’s top projects focused on making DeFi a priority in the current bear market. Giddy teamed up with GainsNetwork and brought the newly created $GNS staking pool.
However, despite the recent surge in activity, a Polygon crypto whale sold MATIC tokens worth $7.7 billion on 8 January, leaving tokens worth $23.7 million in the address. This has caused some investor concern, though it is unlikely to have a major impact on the coin’s price in the long run.
Overall, with the current market conditions, Polygon MATIC is well-positioned to continue its surge in the coming weeks and months. The token’s partnerships, launches, and DeFi focus should ensure that it is well-suited to benefit from the current market conditions. Investors should keep an eye on Polygon MATIC and its activity in the coming weeks and months as it may offer an interesting opportunity for investors who are looking for a promising blockchain investment.