{"id":194310,"date":"2021-10-24T22:00:58","date_gmt":"2021-10-24T16:30:58","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=194310"},"modified":"2021-10-24T21:57:38","modified_gmt":"2021-10-24T16:27:38","slug":"why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\/","title":{"rendered":"Why Polygon had a great week, and how this reflects on MATIC&#8217;s price"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Polygon has been the frontrunner in the L2 solution race, being the most efficacious solution on <a href=\"http:\/\/ambcrypto.com\/category\/ethereum-news\/\">Ethereum<\/a>. Over time with its multiple partnerships the network has furthered its potential and continues to push it. The question is,\u00a0 how this affected MATIC in the past and can the event occurring this week, bear similar results?<\/span><\/p>\n<h3><strong>Polygon goes on<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">This week proved to be the best week in months in terms of investors&#8217; participation in the Polygon network. Active addresses were at their highest this week in almost 3 months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is the result of the network growth witnessed in the last 10 days and Polygon is expanding on all fronts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The network within a year has risen from having 30 dapps to over 3000 dapps today. Owing to the increasing number of dapps, the number of teams building on the network is increasing MoM by over 61%. Plus of all the active teams over 62% of them chose Polygon as their primary choice to bring their vision to life.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Secondly Bitwise announced the Polygon fund offering further exposure to the solution and further its DeFi and NFT capabilities. In a press release, the company stated that,<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">\u201cMany are working on Ethereum competitors to solve this, but Polygon has seen breakthrough traction with a uniquely complementary solution that boosts Ethereum\u2019s speed and efficiency.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">And finally, Polygon is also expanding its focus geographically and looking into emerging countries, starting with India with the announcement of BUILDIT, which will be India\u2019s biggest hackathon offering over $100k in rewards<\/span><\/p>\n<h3><strong>You wanna invest, right?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Now whilst all of this sounds super bullish and could definitely boost Polygon in terms of development, its investment section hasn\u2019t been quite up to the mark. While last week it did cross BSC when it <\/span><a href=\"http:\/\/ambcrypto.com\/polygon-needs-this-for-positive-momentum-in-the-future\/\"><span style=\"font-weight: 400;\">marked<\/span><\/a><span style=\"font-weight: 400;\"> 100 million addresses ATH, recently its performance in the DeFi space has been rather lukewarm.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The network is losing participants&#8217; interest and thus active addresses are falling. <\/span><\/p>\n<figure id=\"attachment_194317\" aria-describedby=\"caption-attachment-194317\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-2-4.png\"><img decoding=\"async\" class=\"wp-image-194317 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-2-4.png\" alt=\"\" width=\"1200\" height=\"742\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-2-4.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-2-4-300x186.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-2-4-1024x633.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-2-4-768x475.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-194317\" class=\"wp-caption-text\"><em>MATIC active addresses<\/em> | Source: <a href=\"https:\/\/coin98.com\/\">Coin98<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Consequently, transaction counts are declining as well, and the Total Value Locked is observing <a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-1-5.png\">no growth<\/a> whatsoever.<\/span><\/p>\n<figure id=\"attachment_194314\" aria-describedby=\"caption-attachment-194314\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-10.png\"><img decoding=\"async\" class=\"wp-image-194314 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-10.png\" alt=\"\" width=\"1200\" height=\"742\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-10.png 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-10-300x186.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-10-1024x633.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/unnamed-10-768x475.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-194314\" class=\"wp-caption-text\"><em>MATIC daily transactions<\/em> | Source: <a href=\"https:\/\/coin98.com\/\">Coin98<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">While in the spot market the MATIC\u2019s 25% rise of Oct 15 did trigger investors and whales to <a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/Bitcoin-BTC-12.53.36-24-Oct-2021.png\">buy<\/a> significantly, within 2 days everything <a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/Bitcoin-BTC-12.53.46-24-Oct-2021.png\">returned<\/a> to the way it was and is pretty dormant at the moment.<\/span><\/p>\n<figure id=\"attachment_194312\" aria-describedby=\"caption-attachment-194312\" style=\"width: 1559px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg.png\"><img decoding=\"async\" class=\"wp-image-194312 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg.png\" alt=\"\" width=\"1559\" height=\"910\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg.png 1559w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg-300x175.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg-1024x598.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg-768x448.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/U2G7AsAg-1536x897.png 1536w\" sizes=\"(max-width: 1559px) 100vw, 1559px\" \/><\/a><figcaption id=\"caption-attachment-194312\" class=\"wp-caption-text\"><em> MATIC price action <\/em> | Source: <a href=\"http:\/\/ambcrypto.com\/\">TradingView &#8211; AMBCrypto<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In the past network development news has pushed MATIC, but looking at the broader market\u2019s slow movement \/ non-bullish movement, MATIC might also keep its movement slow.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon has been the frontrunner in the L2 solution race, being the most efficacious solution on Ethereum. Over time with its multiple partnerships the network has furthered its potential and continues to push it. The question is,\u00a0 how this affected MATIC in the past and can the event occurring this week, bear similar results? Polygon<a href=\"https:\/\/ambcrypto.com\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\/\">Continue reading <span class=\"sr-only\">&#8220;Why Polygon had a great week, and how this reflects on MATIC&#8217;s price&#8221;<\/span><\/a><\/p>\n","protected":false},"author":43,"featured_media":194311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[1266],"class_list":["post-194310","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-matic"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Polygon had a great week, and how this reflects on MATIC&#039;s price - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Polygon is announcing projects and developments left and right but at the end of the day the investors&#039; participation is declining because...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Polygon had a great week, and how this reflects on MATIC&#039;s price - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Polygon has been the frontrunner in the L2 solution race, being the most efficacious solution on Ethereum. Over time with its multiple partnerships the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-24T16:30:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2021\/10\/file-847.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aaryamann Shrivastava\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/Aaryamann_KS\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aaryamann Shrivastava\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/\"},\"author\":{\"name\":\"Aaryamann Shrivastava\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/55a26b56869d7ed719be4a96c4b44887\"},\"headline\":\"Why Polygon had a great week, and how this reflects on MATIC&#8217;s price\",\"datePublished\":\"2021-10-24T16:30:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/\"},\"wordCount\":449,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/file-847.jpg\",\"keywords\":[\"MATIC\"],\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/#respond\"]}],\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/why-polygon-had-a-great-week-and-how-this-reflects-on-matics-price\\\/\",\"name\":\"Why Polygon had a great week, and how this reflects on MATIC's price - 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