Polygon Network Active Addresses Just Hit A New Yearly High, But Why Is MATIC Price Down?
Summary
Polygon (MATIC) has been underperforming compared to other major cryptocurrencies, but its network activity surged after the announcement of the token migration. The number of active addresses on the Polygon network exceeded 4,200, a significant increase from the previous trend. MATIC is currently trading at $0.534, facing resistance at $0.55 and $0.57 due to a concentration of holdings at these levels. Only 5% of addresses holding MATIC are currently in profit, but the upcoming mainnet upgrade to POL in September could generate significant buying pressure and improve holder profitability.
