April

Polygon

Daily

<ul>
 <li>Polygon’s TVL increased last week, reflecting growth in the DeFi space.</li>
 <li style="font-weight: 400;">MATIC was up by nearly 9% in the last seven days,&nbsp;</li>
</ul>
The year 2023 is coming to an end, but <a href="https://ambcrypto.com/search/polygon" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Polygon’s [MATIC]</a> trajectory is continuing unabated. The blockchain’s performance remained remarkably strong on multiple fronts over the last week, while MATIC’s price action gained bullish momentum.
<h4>Polygon reached new highs</h4>
Today In Polygon, a popular X (formerly Twitter) account, recently posted a tweet highlighting the blockchain’s achievements over the last seven days. As per the tweet, Polygon PoS has reached 3.4 billion total transactions. 
Additionally, gaming users on Polygon have increased by more than 30% over the last 30 days.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The last 7 days in Polygon<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f49c.png" alt="💜" class="wp-smiley" style="height: 1em; max-height: 1em;"> Polygon PoS has recorded its highest monthly NFT sales volume since April
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f49c.png" alt="💜" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/ZKFCommunity?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">@ZKFCommunity</a>, a ZK L2 powered by Polygon CDK, <a href="https://twitter.com/CelestiaOrg?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">@CelestiaOrg</a> &amp; <a href="https://twitter.com/LumozOrg?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">@LumozOrg</a>, is live on Mainnet with a community airdrop
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f49c.png" alt="💜" class="wp-smiley" style="height: 1em; max-height: 1em;"> Polygon PoS DEX volumes increased 160%+ over… <a href="https://t.co/gwvmADtuvY" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/gwvmADtuvY</a>
 — Today In Polygon (@TodayInPolygon) <a href="https://twitter.com/TodayInPolygon/status/1738555766716391735?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 23, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
To better understand the blockchain’s network activity, AMBCrypto checked Artemis’ <a href="https://app.artemis.xyz/chains" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">data</a>. To our surprise, we found that, despite a massive increase in transactions, the blockchain’s network activity actually dropped in the last week. 
Polygon’s Daily Active Addresses declined over the last seven days, as did its Daily Transactions. Nonetheless, MATIC’s performance in the DeFi space improved, as its TVL registered a sharp increase during this time frame.
<div id="attachment_360469" style="width: 100%" class="wp-caption aligncenter"><img aria-describedby="caption-attachment-360469" decoding="async" class="wp-image-360469 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Artemis-Polygon.png" alt="" width="1543" height="617" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Artemis-Polygon.png 1543w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Artemis-Polygon-300x120.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Artemis-Polygon-1024x409.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Artemis-Polygon-768x307.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Artemis-Polygon-1536x614.png 1536w" sizes="(max-width: 1543px) 100vw, 1543px">
 Source: Artemis
</div>
The blockchain’s NFT ecosystem also remained active in the last week. Notably, Today In Polygon’s tweet above mentioned that FIFA sold out their new NFT collection on Polygon of 900 digital collectibles.
 Hence, we took a look at MATIC’s performance in the NFT space. As per our analysis, <a href="https://ambcrypto.com/matic-joins-altcoin-rally-are-higher-gains-likely-now/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">MATIC</a>’s total number of NFT trade counts spiked once in the last week.
<div id="attachment_360470" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360470" decoding="async" class="wp-image-360470 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023.png" alt="" width="3840" height="1300" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.13.21-25-Dec-2023-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div>
A similar trend was also seen in terms of Polygon’s NFT trade volume in USD. CryptoSlam’s&nbsp;<a href="https://www.cryptoslam.io/blockchains/polygon?headerPeriod=7d" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">data</a> revealed that MATIC’s total number of NFT buyers and sellers increased by more than 55% last week. 
However, despite the hike in several NFT metrics, Polygon’s total sales volume dropped by more than 32%, which was a tad concerning.
<h4>Is MATIC living up to expectations?</h4>
Amidst all this, MATIC’s price gained bullish momentum. According to <a href="https://coinmarketcap.com/currencies/polygon/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>, MATIC was up by nearly 9% in just the last seven days. At the time of writing, it was trading at $0.8626 with a market capitalization of over $8.2 billion. 
The good news was that the token’s trading volume surged alongside its price.
Is your portfolio green? Check out <a href="https://ambcrypto.com/calculator/matic-network-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">MATIC’s Profit Calculator</a>&nbsp;&nbsp;&nbsp;&nbsp;
Upon further digging, AMBCryptio found that <a href="https://ambcrypto.com/matic-link-post-recoveries-is-this-the-reason-why/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">MATIC</a>’s MVRV Ratio improved over the last seven days, which could be perceived as bullish. However, its Exchange Outflow dropped, meaning that buying pressure was decreasing. 
On top of that, positive sentiment around the token also dropped over the last few days.
<div id="attachment_360471" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-360471" decoding="async" class="wp-image-360471 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023.png" alt="" width="3840" height="1300" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Polygon-on-Ethereum-MATIC-14.16.51-25-Dec-2023-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div>

Polygon price rises by 9% in 7 days: What its 2024 prediction holds

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