Polygon network daily active addresses growing for the last 30 days
In its most recent run of agreements, Polygon [MATIC] announced that its team would collaborate with Indian police enforcement. The blockchain will be used to develop an online FIR site.
It is yet to be confirmed if this new development will have a beneficial effect on the condition of Polygon, despite the possibility that this partnership may increase crypto use.
Aside from its partnerships, one of the few areas in which Polygon demonstrated growth was the increase in the number of stakeholders. According to Staking Rewards, the number of bettors on the Polygon network has increased by 5.34 percent over the last month.
However, there was a significant reduction in the revenue generated by the speculators. The income decreased by a staggering 39.13% in the previous month. Moreover, if the income continues to decline, it would be difficult for Polygon to maintain the expansion of its stakeholder base.
In terms of network expansion, Polygon saw a significant increase, which was a further favourable element. Over the last month, Polygon’s network growth surged significantly, showing a rise in the number of newly created addresses that transferred MATIC tokens for the first time. This suggested that activity at new addresses was rising.
The increase in the number of daily active addresses on the Polygon network over the last 30 days is more proof of the network’s strong activity. This increase in daily active e-mail addresses may predict further growth in the near future.
The next data demonstrates that despite Polygon’s increasing activity, its volume remained volatile and had large changes over the last month. Additionally, Polygon’s Market Value to Realized Value (MVRV) ratio decreased significantly, which may be seen as a negative indication.