Polygon (MATIC) is gaining popularity owing to a huge rise in active addresses, a critical indicator that measures user involvement.
The number of MATIC’s active addresses has increased by over 60% in the previous 30 days, hitting 15,708 on March 3rd.
Additionally, this shows an increasing interest in and acceptance of the Polygon Network. Historical data indicates a significant association between the increase of active addresses and MATIC’s price, with the rise frequently preceding a period of price stability or a prospective price increase.
Recently, MATIC’s price has surged from $0.83 to $1.16, an over 38% gain, suggesting favorable sentiment and greater activity in the Polygon ecosystem.
The strong association between MATIC’s price and Ethereum’s price changes implies that MATIC is on pace to hit the $3 mark.
However, MATIC’s price may consolidate or correct in the near future, since previous data indicates that a stop in active address growth often follows a period of price stability or correction.
