• Polygon MATIC saw a 16% surge in the past week, reaching a 48% increase since late December last year.
• The token is currently valued at $1.09 and has a $1.19 billion trading volume with a $9.4 billion market cap.
• Partnerships and launches such as the AMA with Ovix Protocol, Giddy DeFi teaming up with GainsNetwork, and the $GNS staking pool have all contributed to the increase in daily active users.
The past week has been a booming one for Polygon MATIC, as the token surged 16% in the past week, reaching a 48% increase since late December last year. At the time of writing, the token is currently valued at $1.09, with a $1.19 billion trading volume and a $9.4 billion market cap. This impressive increase in value can be attributed to a number of factors, including partnerships and launches such as the AMA with Ovix Protocol, Giddy DeFi teaming up with GainsNetwork, and the $GNS staking pool.
The AMA with Ovix Protocol, which explored the biggest DeFi narratives for 2023, such as zkEVM, LSD, and Supernets, was a major contributor to Polygon’s success. This AMA was designed to bring together like-minded individuals to discuss the future of DeFi, and it was well-received by the crypto community.
The Giddy DeFi teaming up with GainsNetwork and the creation of the $GNS staking pool have also helped to increase the daily active users of Polygon MATIC. This new staking pool allows users to earn rewards for staking their tokens, which has been a major draw for new users to the platform.
However, it wasn’t all good news for Polygon MATIC this past week. A Polygon crypto whale sold tokens worth $7.7 billion on the 8th of January, leaving tokens worth $23.7 million in the address. Despite this, the token still saw a 16% surge in the past week, which is an impressive feat considering the current bear market.
All in all, the past week has been a positive one for Polygon MATIC, with the token surging 16% and reaching a 48% increase since late December last year. This success can be attributed to partnerships, launches, and the creation of the $GNS staking pool, which have all helped to bring in new users and increase the daily active users of the platform. While the sale of tokens worth $7.7 billion by a Polygon crypto whale was a potential setback, the token still saw impressive growth and remains in a strong position going forward.