Polygon (MATIC) Profitability Article Shocking numbers

Polygon (MATIC) is showing conflicting on-chain data trends, especially as it relates to the profitability of its addresses. According to data from crypto analytics platform IntoTheBlock (ITB), only 5.63% of Polygon addresses are profitable or at the money or breakeven point.

🔸 The fundamentals and price trends of Polygons are not aligned

Polygon is a unique Ethereum-based layer 2 scaling solution. However, its uniqueness has not led to a price increase in recent times.

ITB data shows that there are no completely profitable addresses on the Polygon network. The data also revealed that 3,651 people were "on the money" as of press time. Currently, a total of 612.58K addresses, or 94.37%, are “out of money” or at a loss. This is a very worrying trend considering the widespread adoption of Multi-centric technologies. sense. One of them, Polygon CDK, is powering various new chains as an L2 backbone, expanding its offerings to developers looking to build related or alternative chains.

To date, Polygon's CDK is currently being used by Flipkart, OKX and a host of other innovators to make a difference in Web3.0. Besides CDK, Polygon zkEVM is another technology that demonstrates Polygon's advanced capabilities.

However, amid its innovations, MATIC is still down as much as 4.9% in 24 hours to $0.5516. Over the past month, the token has dropped another 24.34%, accelerating the decline in returns of the associated ecosystem address.$MATIC