Polygon was able to bypass Ethereum in the number of active addresses

Recently it became known that Polygon Network was able to bypass its main altcoin competitor in the face of Ethereum in terms of the number of active addresses in the network. At the same time, the rate of the MATIC token increased by 10% from its previous value. Yesterday, the Polygon Network token traded at $1, after which it rose to $1.11 and corrected to $1.08.

The reason for actively attracting investors and maintaining active addresses was the recent updates on the network, as well as various partnership agreements that blockchain developers were able to achieve. For example, on January 17, the developers of the network carried out a fork of Delhi, which is designed to reduce the commission for transfers and more optimize the operation of the blockchain. On January 20, Polygon became full partners of the BitGo network, which will now allow investors to send their funds for staking MATIC tokens, and on the 26th, network developers enlisted the support of the Arkham Intelligence analytical center.

Polygon is inferior in terms of active addresses only to the undisputed leader and king of cryptography, Bitcoin. The latter has over 800,000 active addresses. In second place, as we said, is Polygon Network with 340,000 active addresses, and Ethereum closes the top 3 with statistics of more than 320,000 active addresses. As for individual users, there are more than 400,000 such people according to the Polygon network scanner called Polygonscan. Etherscan, in turn, testifies to more modest indicators seen in the Ethereum network. There are over 341,000 users there.

In general, the market has shown bullish growth lately and the improvement in the position of Polygon (MATIC) cannot be called some kind of exception, as the coin moves after the entire cryptocurrency industry. However, while BTC and other coins are currently moving sideways and are in a local flat, Polygon has been able to demonstrate good growth over the past day and add 10% to the value of the token.

At the time of writing, Polygon is trading at $1.08, the total trading volume conducted by traders in the last 24 hours is $1,180,000,000+, and MATIC's capitalization is slightly higher than $9,400,000,000. In total, it is planned to issue 10,000,000,000 Polygon (MATIC) tokens to the network. At the moment, miners have already mined 87% of the tokens.

Notably, Polygon belongs to the decentralized finance (DeFi) sector. This sector of cryptocurrencies has recently been able to rise along with the rest of the crypto market, and the overall value of DeFi is now estimated at 20% more than before.

The same can be said about TVL (Total Locked Funds) in Polygon Network. The total amount of investors' funds locked up increased by 20.7%, namely from $994,000,000 to $1,200,000,000.

Polygon Network is ahead of its main competitor from the world of altcoins in another indicator. Polygon currently processes about 3,000,000 transactions per day, while for Ethereum this figure is ~1,000,000. It is noteworthy that the flagship cryptocurrency lags behind Polygon and Ethereum in this regard and has about 300,000 daily transactions on the network.