{"id":362470,"date":"2024-01-08T02:00:36","date_gmt":"2024-01-07T20:30:36","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=362470"},"modified":"2024-01-07T15:58:27","modified_gmt":"2024-01-07T10:28:27","slug":"polygon-is-an-nft-summer-on-the-way","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/polygon-is-an-nft-summer-on-the-way\/","title":{"rendered":"Polygon: Is an NFT summer on the way?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Most metrics of Polygon NFTs registered upticks over the past few months.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">MATIC was up by 3%, but metrics remained bearish.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Polygon [MATIC]<\/span><span style=\"font-weight: 400;\"> has witnessed a surge in activity in its NFT ecosystem over the last few months. This hinted that the NFT space was once again gaining traction, which earlier was enduring the winter days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Does this mean that 2024 will bring a fresh NFT summer for Polygon?<\/span><\/p>\n<h4><b>Polygon NFTs are reviving<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The beginning of 2023 was flourishing for the entire NFT ecosystem as the industry flourished. But the tables turned around during the latter half of the previous year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nonetheless, Polygon\u2019s NFT ecosystem did get some traction over the last few months, which looked optimistic for the ecosystem\u2019s growth. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today In Polygon, a popular X (formerly Twitter) handle, recently posted a tweet highlighting the blockchain\u2019s growth in the NFT space. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per the tweet, Polygon\u2019s NFT sales volume was surging to levels not seen in over six months. This episode indicated a newfound interest in<\/span> <a href=\"http:\/\/ambcrypto.com\/polygon-can-high-network-activity-push-matic-north\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">MATIC<\/span><\/a><span style=\"font-weight: 400;\"> NFTs, which can have a larger impact on the ecosystem over the coming months.<\/span><\/p>\n<p>https:\/\/twitter.com\/TodayInPolygon\/status\/1743325573542281533?s=20<\/p>\n<p><span style=\"font-weight: 400;\">AMBCrypto then took a look at other datasets to better understand how the blockchain\u2019s NFT space was growing. Our analysis found that MATIC\u2019s Total NFT Trades Count gained upward momentum over the past seven weeks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Not only that, but its Total NFT Trades Volume in USD also registered a massive spike on the 6th of December 2023.<\/span><\/p>\n<figure id=\"attachment_362477\" aria-describedby=\"caption-attachment-362477\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024.png\"><img decoding=\"async\" class=\"wp-image-362477 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.20.27-07-Jan-2024-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-362477\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">To find which NFT collections of the blockchain helped Polygon reach this level, we took a look at DappRadar\u2019s<\/span> <a href=\"https:\/\/dappradar.com\/rankings\/nft\/collections\/chain\/polygon?range=month\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">data<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">We found that the top Polygon NFTs over the last 30 days were Gas Hero Coupon NFTs, Collect Trump, The Sandbox, and Genesis WildPas. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">These collections performed well over the past month, playing a crucial role in helping Polygon\u2019s NFT stats improve. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Though these metrics look optimistic, everything did not go in Polygon\u2019s favor. For example, our analysis of Dune\u2019s data revealed that after spiking on the 25th of December 2023, its unique address graph dropped. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">A similar declining trend was also seen in terms of the number of transactions.<\/span><\/p>\n<figure id=\"attachment_362481\" aria-describedby=\"caption-attachment-362481\" style=\"width: 1838px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC.png\"><img decoding=\"async\" class=\"wp-image-362481 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC.png\" alt=\"\" width=\"1838\" height=\"475\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC.png 1838w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC-300x78.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC-1024x265.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC-768x198.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Dune-MATIC-1536x397.png 1536w\" sizes=\"(max-width: 1838px) 100vw, 1838px\" \/><\/a><figcaption id=\"caption-attachment-362481\" class=\"wp-caption-text\">Source: Dune<\/figcaption><\/figure>\n<h4><b>MATIC is turning bullish<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">While all this happened, MATIC bulls stepped up their game as the token\u2019s price chart turned green. According to<\/span> <a href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, MATIC was up by more than 3% in the last 24 hours alone. <\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check out the<\/span> <a href=\"http:\/\/ambcrypto.com\/calculator\/matic-network-profit-calculator\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">MATIC Profit Calculator<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">At the time of writing, it was trading at $0.8384 with a market capitalization of over $8 billion.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thanks to the price uptick, Polygon\u2019s Social Volume remained relatively high. However, it was surprising to note that despite the uptrend,<\/span> <a href=\"http:\/\/ambcrypto.com\/polygon-can-the-upcoming-saga-airdrop-benefit-matic\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">MATIC<\/span><\/a><span style=\"font-weight: 400;\">\u2019s MVRV ratio plummeted, as did its Weighted Sentiment.<\/span><\/p>\n<figure id=\"attachment_362482\" aria-describedby=\"caption-attachment-362482\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024.png\"><img decoding=\"async\" class=\"wp-image-362482 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Polygon-on-Ethereum-MATIC-13.28.11-07-Jan-2024-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-362482\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Polygon\u2019s NFT sales volume gains upward momentum while MATIC\u2019s price action turns bullish.<\/p>\n","protected":false},"author":75,"featured_media":362483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,3,4029,4,20],"tags":[1266],"class_list":["post-362470","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-news","category-news","category-nft","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>Polygon: Is an NFT summer on the way? 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