The Polygon (MATIC) network has been a focus of attention in the world of cryptocurrencies, not only for its innovative approach to building a network of aggregated chains, but also for its constant growth in terms of adoption and user interest.
Recently, the Polygon PoS chain achieved a remarkable feat, surpassing the 400 million unique addresses mark. This milestone is a testament to the growing interest and adoption of the network, attracting a significant volume of new users and potential capital.
Specifically, the network saw a notable increase in the number of unique addresses on a single day, February 1st, adding nearly 216,000 new addresses, bringing the total from 399.89 million to over 400.11 million. This growth is a clear indication of the continued flow of users and capital into the network, as captured by Polygon Scan data.
Polygon PoS unique addresses just passed 400M. pic.twitter.com/6Hq7lPgoUr
— Today In Polygon (@TodayInPolygon) February 2, 2024
This advancement follows the release of version one of its interoperability layer, known as the Aggregation Layer (AggLayer), designed to overcome the challenge of fragmented liquidity and make it easier for users to interact with the Layer 2 zero-knowledge ecosystem as if were a single blockchain.
Despite these significant advancements and the increase in development activity, the price of the network’s native token, MATIC, has not seen a corresponding impact. The year 2023 was relatively calm for MATIC, especially when compared to other assets like Bitcoin and Solana, which recorded impressive percentage gains. Many analysts predicted that 2024 would be the year that MATIC would finally take off, but to date, this expected recovery has yet to materialize, much to the disappointment of many token holders.
At the time of publication, the price of MATIC was quoted at US$0.7882 with a drop of 1% in the last 24 hours. Throughout January 2024, the price experienced a decline from the top of this range, only to recover slightly, trading near $0.8. This price pattern reflects the uncertainty and volatility that are characteristic of the cryptocurrency market, despite the network’s continued growth and development.
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