How Polygon (MATIC) Continues to Climb the Market Cap Rank Charts
MATIC has pressed its way up to being the 37th largest market cap in cryptocurrency, and this is no fluke according to Santiment's on-chain and social fundamental metrics.
Here are a few quick charts that we can use that foreshadowed the monumental growth from the ETH-based asset, particularly its peak +185% price jump in just the past five days.
The Good News
Daily Active Addresses have exploded the last couple of days, and continue its long-term rise.
Network growth shows a similar long-term rise.
Unique tokens are being circulated between addresses at a significantly faster rate.
The Bad News
The rate of development from MATIC's Github is moving downward.
Whale addresses with 100,000 tokens or more are declining over the past 6 weeks.
Active deposits are not far behind active addresses, meaning plenty of coins are being moved to exchanges to take profit.