Polygon On-Chain Activity Sees Surge Amid Possible Trend Reversal

According to Odaily, blockchain analytics platform Santiment has reported a significant increase in on-chain activity for Polygon. Charts shared on X highlight a notable rise in dormant token activity this week. Santiment suggests this increase could signal a potential long-term trend reversal for MATIC, Polygon's native token.

Data from blockchain explorer Polygonscan reveals a substantial decline in network address activity since late July, dropping from 1.6 million to 700,000 by late August—a decrease of around 50%. Additionally, daily transactions have fallen from over 5 million in March to about 3 million by the end of August.

Despite these changes, CoinGecko shows that MATIC remains down by 85% compared to its all-time high of $2.92 in December 2021.#Polygone #coinGecko #MATIC #RaiBasit #Raiteam