Polygon's 9% Price Surge Sparks Speculation on 2024 Outlook
Last week witnessed a surge in Polygon's TVL, indicating expansion in the DeFi sector. Meanwhile, MATIC experienced an impressive 9% increase over the past seven days.Polygon's 9% Price Surge Sparks Speculation on 2024 Outlook
As 2023 draws to a close, Polygon's [MATIC] momentum remains steadfast, showcasing robust performance across various fronts in the past week. MATIC's price action has notably embraced a bullish trajectory.
Polygon Achieves Record Highs
Recent updates on Polygon's achievements surfaced on Today In Polygon, an influential X (formerly Twitter) account, highlighting the blockchain's noteworthy accomplishments. The tweet spotlighted Polygon PoS surpassing 3.4 billion total transactions, marking a significant milestone. Furthermore, the gaming user base on Polygon experienced a noteworthy surge of over 30% in the past 30 days.
AZC News delved into Artemis' data to gain deeper insights into the blockchain's network activity. Surprisingly, despite a considerable uptick in transactions, the network activity on the blockchain witnessed a decline in the last week. Daily Active Addresses and Daily Transactions on Polygon both experienced reductions. Nevertheless, MATIC's performance in the DeFi sector exhibited growth, with a substantial increase in Total Value Locked (TVL) during this period.
The NFT ecosystem on Polygon remained dynamic, with FIFA successfully selling out a collection of 900 digital collectibles on the platform, as mentioned in Today In Polygon's tweet.
Related: What is Polygon (MATIC)? How Does It Work?
Turning attention to MATIC's NFT performance, our analysis revealed a notable spike in the total number of NFT trades in the past week. A parallel trend was observed in Polygon's NFT trade volume in USD, with data from CryptoSlam indicating a more than 55% increase in the number of NFT buyers and sellers.
Despite these positive trends in various NFT metrics, Polygon experienced a concern-worthy drop of over 32% in total sales volume.
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