Polygon MATIC may be ‘brewing’ reversal amid sudden spike in onchain activity
Onchain activity for the Ethereum layer-2 network has picked up recently, but token prices remain at deep bear market levels.
Polygon’s native token MATIC could be in for a resurgence soon. Analysts have spied a “notable spike” in active addresses and dormant coins coming back to life.
On Aug. 28, blockchain analytics platform Santiment said there had been a surge in onchain activity on Polygon.
A chart shared on X shows a strong surge in dormant token movement this week, coinciding with this year’s second-highest number of Polygon addresses interacting with the network.
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Author: Martin Young
