MATIC coin, the base coin of the Polygon network, unexpectedly joined the altcoin rally, showing some bullish momentum and the price getting closer to the $1 resistance level.

The slight rise comes after the merger, indicating renewed investor interest and the potential for further gains.

MATIC has a relatively stable total number of addresses, which indicates that the rate of creation of new addresses is steady.

However, total balances showed a slight increase. This can be interpreted as an increase in network utilization or carrier accumulation, which are bullish signals.

However, the proportion of active addresses is decreasing, which indicates that while the number of addresses with balances is increasing, the proportion of active addresses is declining.

While large holders continue to generate significant volumes, there is also continued interest from smaller holders who are holding on to their stakes, perhaps betting on long-term growth.

This is typical of phases where cryptocurrencies show consolidation followed by gradual increases in price, indicating fundamental confidence in the coin's value proposition.