{"id":405629,"date":"2024-07-09T18:30:07","date_gmt":"2024-07-09T13:00:07","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=405629"},"modified":"2024-07-09T16:18:33","modified_gmt":"2024-07-09T10:48:33","slug":"polygon-q2-report-slight-positives-some-negatives-and-matics-path-in-q3","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/polygon-q2-report-slight-positives-some-negatives-and-matics-path-in-q3\/","title":{"rendered":"Polygon Q2 report &#8211; Slight positives, some negatives, and MATIC&#8217;s path in Q3"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">The number of active addresses on Polygon picked up in Q2.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">MATIC remained bearish as Q3 commenced.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/category\/polygon-news\/\" target=\"_blank\" rel=\"noopener\">Polygon [MATIC]<\/a> recently disclosed its performance data for Q2, revealing a mixed picture of its network activity and financial health. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">While the data highlighted some positive trends regarding active addresses, there were notable declines in key financial and operational areas. Additionally, the Total Value Locked (TVL) also took a hit.<\/span><\/p>\n<h2><b>The positives and negatives of the Polygon report<\/b><\/h2>\n<h3><b>The positives<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/x.com\/coin98analytics\/status\/1810324840152522907?s=46\" target=\"_blank\" rel=\"noopener\">Q2 report<\/a> for the <a href=\"https:\/\/ambcrypto.com\/what-matics-exclusion-from-a-grayscale-fund-might-mean-for-its-price\/\" target=\"_blank\" rel=\"noopener\">Polygon<\/a> network highlighted several positive trends.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Firstly, the number of daily active addresses rose to 1.2 million, marking a 47% increase from the previous quarter and a substantial 234% increase YoY. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Weekly active addresses saw a 31% rise this quarter, with an impressive 123% growth YoY.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report also noted a 3.3% quarterly increase in daily transactions, nearly a 70% increase compared to last year. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, there was a notable rise in the number of MATIC holders, which grew by over 18% this quarter and exceeded a 70% increase year-on-year.\u00a0<\/span><\/p>\n<h3><b>The negatives<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Q2 report for the <a href=\"https:\/\/ambcrypto.com\/polygon-dapp-volume-crosses-100m-will-this-help-matics-price\/\" target=\"_blank\" rel=\"noopener\">Polygon<\/a> network also revealed some significant challenges.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, the fees collected by the network declined by over 40% in the second quarter and dropped by more than 64% YoY. Similarly, revenue decreased substantially, falling by almost 80% YoY and over 41% in Q2.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the growth in daily active addresses, the number of daily new addresses introduced to the network decreased by over 37% from the previous quarter and over 63% compared to last year.\u00a0<\/span><\/p>\n<h2><b>Analyzing Polygon&#8217;s TVL<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Total Value Locked (TVL) on the Polygon network has declined over the past few months, according to AMBCrypto&#8217;s look at <a href=\"https:\/\/defillama.com\/chain\/Polygon\" target=\"_blank\" rel=\"noopener\">DeFiLlama<\/a> data.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Following a peak in February, where TVL rose to over $1.1 billion, there has been a noticeable downward trend.\u00a0<\/span><\/p>\n<figure id=\"attachment_405669\" aria-describedby=\"caption-attachment-405669\" style=\"width: 874px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/download-5.png\"><img decoding=\"async\" class=\"size-full wp-image-405669\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/download-5.png\" alt=\"Polygon TVL\" width=\"874\" height=\"540\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/download-5.png 874w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/download-5-300x185.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/download-5-768x475.png 768w\" sizes=\"(max-width: 874px) 100vw, 874px\" \/><\/a><figcaption id=\"caption-attachment-405669\" class=\"wp-caption-text\">Source: DefiLlama<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">At the beginning of Q2, the TVL stood at over $1 billion but decreased to approximately $823 million. This represented a decline of over 23% within the quarter and an over 13% decrease on a YoY basis.<\/span><\/p>\n<h2><b>MATIC remains bearish<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">AMBCrypto&#8217;s analysis of <a href=\"https:\/\/ambcrypto.com\/matic-struggles-at-0-5-resistance-heres-why-a-dip-may-follow\/\" target=\"_blank\" rel=\"noopener\">MATIC<\/a>&#8216;s price trend on a daily time frame highlighted that although the price has generally not performed well, there has been a recent uptick. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the last 24 hours, MATIC&#8217;s price increased by 5.02%, reaching around $0.501 on the 8th of July. As of this writing, it was trading slightly higher at around $0.502.<\/span><\/p>\n<figure id=\"attachment_405670\" aria-describedby=\"caption-attachment-405670\" style=\"width: 1491px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47.png\"><img decoding=\"async\" class=\"size-full wp-image-405670\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47.png\" alt=\"MATIC price trend\" width=\"1491\" height=\"739\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47.png 1491w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47-300x149.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47-1024x508.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47-768x381.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/MATICUSDT_2024-07-09_10-41-47-1200x595.png 1200w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/a><figcaption id=\"caption-attachment-405670\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"https:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\">MATIC Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Despite this recent increase, MATIC&#8217;s price trend continued to be predominantly bearish. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Relative Strength Index (RSI) remained below the neutral 50 line, indicating that the asset was still within a bearish trend at press time.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is a tale of mixed reactions from key areas in the Polygon network as it starts Q3.\u00a0<\/p>\n","protected":false},"author":76,"featured_media":405674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,6382,4,20],"tags":[6427],"class_list":["post-405629","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-polygon-news","category-social","category-trading-view","tag-ambcrypto"],"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 Q2 report - Slight positives, some negatives, and MATIC&#039;s path in Q3 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"It was not all positive for the Polygon network, as some key network metrics showed declines as Q2 concluded.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/polygon-q2-report-slight-positives-some-negatives-and-matics-path-in-q3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polygon Q2 report - Slight positives, some negatives, and MATIC&#039;s path in Q3 - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"It is a tale of mixed reactions from key areas in the Polygon network as it starts Q3.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/polygon-q2-report-slight-positives-some-negatives-and-matics-path-in-q3\/\" \/>\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=\"2024-07-09T13:00:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Polygon_reports_1-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1792\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Adewale Olarinde\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/WaleRexx\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adewale Olarinde\" \/>\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\":\"ReportageNewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/polygon-q2-report-slight-positives-some-negatives-and-matics-path-in-q3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/polygon-q2-report-slight-positives-some-negatives-and-matics-path-in-q3\\\/\"},\"author\":{\"name\":\"Adewale Olarinde\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/a3ac3193a21ee61fa9d68ccd6bfa3885\"},\"headline\":\"Polygon Q2 report &#8211; 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