Bittime - The Polygon Network is experiencing a surge in activity, hitting a record 1.23 million daily active addresses on March 13th. This surge signals a new era in user engagement and solidifies Polygon's position as a major player in the Proof-of-Stake (PoS) blockchain world.
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Polygon Confidence Rising?
But the growth isn't just limited to numbers. Maintaining over 1 million active addresses for 20 consecutive days shows confidence and excitement in the Polygon ecosystem. Users clearly find value in the network's capabilities, especially its focus on scalability and low transaction fees.
Also read: What is Polygon (MATIC)? Listen to the explanation!
Increase in TVL Polygon
This active user base is resulting in another positive trend: increasing Total Value Locked (TVL) . TVL reflects the overall health and liquidity of the cryptocurrency ecosystem.
Polygon's TVL increase, which recently surpassed $25 billion according to DeFi Llama, indicates a user-friendly environment for a wide range of DeFi activities. From trading and lending to yield farming, Polygon offers a cost-effective and efficient platform compared to the Ethereum network.
Increased liquidity attracts more projects and participants, which further drives network growth and creates a positive cycle.
Polygon PoS Daily Active User All Time High
Even the NFT sector on Polygon is growing rapidly, with strong trading volumes despite broader market fluctuations. This continued interest from users and collectors underscores the value proposition of NFTs in the Polygon ecosystem.
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The faster transaction speeds and lower fees of the Polygon network make it an attractive option for creators and collectors, fostering a more accessible and scalable NFT market.
What Does This Mean for MATIC?
This native asset experienced a price increase of 2.42% in the last 24 hours, reaching Rp. 19,636. This growth coincides with an increase in new user addresses, faster transaction speeds on the network, and an overall explosion in DeFi activity.
Analysts at Messari predict that MATIC prices could reach $5 by the end of 2024, driven by continued network growth and wider adoption [Source 2]. Considering these factors along with overall network activity, MATIC's prospects look promising. The coin seems well positioned to sustain its market recovery and potentially reach new highs.
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Conclusion
However, it is important to remember that the cryptocurrency market is still volatile. While Polygon's recent developments are encouraging, investors should do their own research and understand the inherent risks before investing in any cryptocurrency.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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