Polygon (MATIC) has seen encouraging growth in consumer activity and transactions over the past two months.
Polygon is a platform for infrastructure development and scaling of Ethereum.
Based on this month’s analysis, the MATIC price on April 18 traded at a low of $ 0.26 before witnessing a 50% jump to $ 0.39 following the adoption of the L2 platform which started to rise.
Before being known as Polygon, this platform was commonly known as Matic Network. The rebranding of the network is part of their efforts to become an L2 aggregator for the Ethereum network.
Since then, many decentralized finance (DeFi) and nonfungible token (NFT) related projects have integrated with Polygon because of its fast, low -cost features.
Among them: SushiSwap (SUSHI), Curve Finance (CRV), OpenSea, Decentraland (MANA) and Aavegotchi (GHST).
At the same time, activity in decentralized exchanges (DEX) showed an increase as a result of the dumping of projects available at Polygon. For example, IoTeX (IOTX), Everipedia (IQ), Gelato Network (GELATO), Just Bet (WINR) and Umbrella Network (UMB).
When the MATIC writing traded at $ 0.42, it rose over 17% in 24 hours. If this network continues to record an increase in activity rate, it is not impossible that the price of MATIC will also increase.
