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Polygon (MATIC) Has Hit A New Milestone With 400 Million Unique Addresses Despite Price Woes
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Polygon (MATIC) Has Hit A New Milestone With 400 Million Unique Addresses Despite Price Woes

  • Polygon MATIC hits 400M unique addresses despite unfavorable price concern.

As Polygon (MATIC) moves towards a new vision of building a network of aggregated chains, the network’s original PoS chain is continuing to enjoy steady growth. 

In the latest instance, the Polygon PoS chain has reached a new milestone in unique addresses, suggesting that the network is attracting more users and capital.

Polygon (MATIC) Unique Addresses Soar

As recently highlighted by Today In Polygon, on Thursday, February 1, the Polygon (MATIC) chain breached the 400 million unique addresses mark. 

Specifically, the network added nearly 216,000 unique addresses on the day to jump from 399.89 million on January 31 to over 400.11 million, per data from Polygon Scan, in a move signaling a significant influx of users and potential capital to the network.

The recent milestone comes on the heels of the unveiling of version one of the project’s interoperability layer for CDK chains, dubbed the Aggregation Layer or AggLayer, which promises to tackle the problem of fragmented liquidity and allow users to interact with the envisioned ecosystem of zero-knowledge Layer 2 chains like a single blockchain.

Still, to the disappointment of several members of the Polygon community, the recent strides in network growth and development activity have yet to impact the price of the network’s native token, MATIC.

See Also: Polygon Labs Lays Off 19% Of Staff After ‘Rapid Growth’ During Crypto’s Bull Run

MATIC Remains Muted

After a largely quiet run in 2023, where assets like Bitcoin and Solana took the limelight with triple-digit percentage gains, several analysts tipped MATIC to make a splash in 2024. 

However, this much-talked-about rally has yet to play out to the disappointment of most holders.

At the time of writing, MATIC’s price remains stuck in a multi-month range between the $1 price point and the $0.7 price point. 

Polygon Price Chart | Source: Coinstats

 

The greater part of January 2024 saw the asset’s price descend from the top of this range before bouncing at the bottom to trade near $0.8.

Nevertheless, the year is just starting, and there is still plenty of time for MATIC to make a comeback.

Polygon Labs, the development team behind the eponymous blockchain, recently cut 19% of its workforce as part of steps to align the network behind a single narrative.

The increase in the number of Polygon (MATIC) unique addresses supports the likelihood of increased network activity and capital inflows into the network, all of which could positively impact price.

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