Summary
- Polygon’s network activity has been declining for the past few days. However, the launch of Polygon 2.0 can stir things up.
- The blockchain recently announced Polygon 2.0 upgrade with aims to maintain seamless functionality and enhance security.
- MATIC investors are enjoying the benefits of the bull market as its price surged.
Polygon’s Network Activity Declines
Polygon [MATIC] has witnessed a decline in its daily active addresses for the past couple of days. The decline in addresses also caused its daily transactions to sink. MATIC’s open interest also dropped which resulted in a change of trend and an increase in price by more than 7% in the last 24 hours.
Polygon Launches 2.0 Upgrade
Amidst this, Polygon made quite a few new announcements and launches in the recent past that can change the situation in the blockchain’s favor. The blockchain recently announced Polygon 2.0 upgrade with aims to maintain seamless functionality and enhance security while enabling interoperability with other chains in the Polygon 2.0 ecosystem.
Total Value Locked (TVL)
Apart from network activity, the blockchain’s value also registered a decline over the last few days which was evident from drop in its TVL (Total Value Locked). However, it was optimistic to see metric showing signs of recovery as chart went up since 16 June 2023 .Benefits for MATIC Investors
While Polygon made back-to-back announcements, MATIC enjoyed bull market as its price surged . Apart from bullish market , another possible reason behind MATIC’s price surge could be drop in open interest . Usually , when open interest sinks , on-going price trend changes .
Conclusion
The launch of Polygon 2.0 is likely to bring positive changes into play and benefit MATIC investors who have already enjoyed some benefits due to bull market followed by drop in open interest . Furthermore , it will enable interoperability between different chains and improve security within network .
The launch of Polygon 2.0 is likely to bring positive changes into play and benefit MATIC investors who have already enjoyed some benefits due to bull market followed by drop in open interest . Furthermore , it will enable interoperability between different chains and improve security within network .