{"id":275287,"date":"2022-12-05T06:00:06","date_gmt":"2022-12-05T00:30:06","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=275287"},"modified":"2022-12-04T17:30:14","modified_gmt":"2022-12-04T12:00:14","slug":"polygons-dapp-activity-upsurge-could-mean-this-for-matic-in-the-days-to-come","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/polygons-dapp-activity-upsurge-could-mean-this-for-matic-in-the-days-to-come\/","title":{"rendered":"Polygon&#8217;s dApp activity upsurge could mean this for MATIC in the days to come"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Polygon witnessed high activity in terms of active users on dApps<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">However, its TVL continued to decline along with its MVRV ratio<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to a 3 December tweet by <\/span><span style=\"font-weight: 400;\">token terminal<\/span><span style=\"font-weight: 400;\">, dApp activity on the Polygon network continued to grow over the last few months. <a href=\"http:\/\/ambcrypto.com\/graph-protocol-adds-support-for-polygon-but-what-does-it-mean-for-matic\/\">Polygon<\/a> grew its market share in terms of daily active users and outperformed competitors over the course of the last few months. This spike in activity could aid <\/span><span style=\"font-weight: 400;\">MATIC<\/span><span style=\"font-weight: 400;\">\u2019s ailing prices.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Polygon growing its DAU market share \ud83d\udc40 <a href=\"https:\/\/t.co\/6Kv8gfqhMw\">pic.twitter.com\/6Kv8gfqhMw<\/a><\/p>\n<p>&mdash; Token Terminal \ud83d\udcca (@tokenterminal) <a href=\"https:\/\/twitter.com\/tokenterminal\/status\/1599035453239283712?ref_src=twsrc%5Etfw\">December 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\"><span style=\"font-weight: 400;\">Polygon\u2019s [MATIC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-2024<\/span><\/p>\n<hr \/>\n<h3><b>It&#8217;s the time for dApp active users<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">At the time of writing, there were 412,000 daily active users on Polygon&#8217;s dApps. The network ranked second in this metric out of all cryptocurrencies.\u00a0<\/span><\/p>\n<figure id=\"attachment_275317\" aria-describedby=\"caption-attachment-275317\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-scaled.jpeg\"><img decoding=\"async\" class=\"size-full wp-image-275317\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-scaled.jpeg\" alt=\"\" width=\"2560\" height=\"1424\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-scaled.jpeg 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-300x167.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-1024x570.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-768x427.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-1536x855.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Token-terminal-2048x1139.jpeg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-275317\" class=\"wp-caption-text\">Source: token terminal<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">This spike in activity could be attributed to popular dApps on the Polygon network, such as <\/span><a href=\"https:\/\/dappradar.com\/polygon\/games\/planet-ix\"><span style=\"font-weight: 400;\">Planet IX <\/span><\/a><span style=\"font-weight: 400;\">and <\/span><a href=\"https:\/\/dappradar.com\/polygon\/exchanges\/quickswap\"><span style=\"font-weight: 400;\">QuickSwap<\/span><\/a><span style=\"font-weight: 400;\">. Both these dApps witnessed a spike in terms of unique active wallets over the past week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, according to <\/span><a href=\"https:\/\/dappradar.com\/rankings\/protocol\/polygon\/1?greaterTotalVolumeInFiat=100000\"><span style=\"font-weight: 400;\">DappRadar<\/span><\/a><span style=\"font-weight: 400;\">, Planet IX observed a growth of 3.46% in terms of unique active wallets over the last seven days. Quickswap, on the other hand, witnessed a 22.55% spike in the same period. <\/span><span style=\"font-weight: 400;\">Planet IX also grew in terms of volume, as can be seen from the image below. The number of transactions on the dApp increased as well.<\/span><\/p>\n<figure id=\"attachment_275320\" aria-describedby=\"caption-attachment-275320\" style=\"width: 1552px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-275320\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM.png\" alt=\"\" width=\"1552\" height=\"912\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM.png 1552w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM-300x176.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM-1024x602.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM-768x451.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.19.24-PM-1536x903.png 1536w\" sizes=\"(max-width: 1552px) 100vw, 1552px\" \/><\/a><figcaption id=\"caption-attachment-275320\" class=\"wp-caption-text\">Source: DappRadar<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">However, this growth in dApp activity did not translate to improvements in the DeFi space. <\/span><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/defillama.com\/chain\/Polygon\"><span style=\"font-weight: 400;\">DefiLlama,<\/span><\/a><span style=\"font-weight: 400;\"> Polygon\u2019s total value locked (TVL) witnessed a significant decline. In the past 30 days, Polygon&#8217;s TVL depreciated from 1.24 billion to 1.07 billion. At the time of writing, Polygon\u2019s TVL had depreciated by 0.44% in the last 24 hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although Polygon did not perform in the DeFi space, its performance on the NFT front did offer some respite. As can be seen from the image below, top NFTs did exceptionally well over the last seven days on the Polygon network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One NFT collection that stood out in the last week in terms of growth was The Sandbox. It witnessed a spike of over 300% in terms of volume and sales. However, this could be because of the launch of their new <\/span><a href=\"https:\/\/twitter.com\/0xPolygon\/status\/1599117947657936898?s=20&amp;t=80mGMSDL2fL_i-Ah508Guw\"><span style=\"font-weight: 400;\">Wave 2 Land sale<\/span><\/a>.<\/p>\n<figure id=\"attachment_275319\" aria-describedby=\"caption-attachment-275319\" style=\"width: 1232px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.31.42-PM.png\"><img decoding=\"async\" class=\"wp-image-275319 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.31.42-PM.png\" alt=\"\" width=\"1232\" height=\"638\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.31.42-PM.png 1232w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.31.42-PM-300x155.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.31.42-PM-1024x530.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-04-at-3.31.42-PM-768x398.png 768w\" sizes=\"(max-width: 1232px) 100vw, 1232px\" \/><\/a><figcaption id=\"caption-attachment-275319\" class=\"wp-caption-text\">Source: DappRadar<\/figcaption><\/figure>\n<h3><b>Are MATIC HODLers in a dilemma?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">These developments had little positive impact on MATIC holders, as Polygon&#8217;s Market Value to Realized Value (MVRV) ratio declined. This implied that most MATIC holders would lose money if they ended up selling<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> However, the Long\/Short Difference indicator suggested that addresses that have held onto MATIC for a longer period could still make a profit despite Polygon\u2019s declining prices. Thus, <\/span><span style=\"font-weight: 400;\">it remains to be seen whether long time Polygon holders will continue to show faith in MATIC or succumb to the selling pressure and cash out.<\/span><\/p>\n<figure id=\"attachment_275321\" aria-describedby=\"caption-attachment-275321\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022.png\"><img decoding=\"async\" class=\"size-full wp-image-275321\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Polygon-on-Polygon-MATIC-15.44.03-04-Dec-2022-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-275321\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Polygon witnessed high activity in terms of active users on dApps However, its TVL continued to decline along with its MVRV ratio According to a 3 December tweet by token terminal, dApp activity on the Polygon network continued to grow over the last few months. Polygon grew its market share in terms of daily active<a href=\"https:\/\/ambcrypto.com\/polygons-dapp-activity-upsurge-could-mean-this-for-matic-in-the-days-to-come\/\">Continue reading <span class=\"sr-only\">&#8220;Polygon&#8217;s dApp activity upsurge could mean this for MATIC in the days to come&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":275289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,950,66,3,4,20],"tags":[1266],"class_list":["post-275287","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-defi","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 v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Polygon&#039;s dApp activity upsurge could mean this for MATIC in the days to come - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Token terminal claims that the daily activity of Polygon increased as a result of its dApp activity. 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