Polygon (MATIC) Price Prediction: MATIC Tumbles 1.08%, Will the Bears Continue to Dominate the Market?

Polygon's [MATIC] ecosystem has seen high amounts of activity on its network. One of the reasons for Polygon's success would be the popularity of its dApps.

Polygon’s [MATIC] network activity has been impressive, thanks largely to the popularity of its decentralized applications (dApps).

One standout example is Polymarket, an events-based betting dApp that has already generated over $100 million in volume, sparking a surge in activity.

With more users flocking to dApps like Polymarket, the overall user base on the Polygon network is expanding.

This success story is also attracting more developers to create dApps on Polygon, which could lead to a wider range of applications on the platform and further enrich the Polygon ecosystem.

Increased adoption and network activity can have a positive impact on the price of MATIC, Polygon’s native token. As more users interact with dApps, the demand for MATIC for gas fees and other functionalities could rise.

Our analysis of key on-chain metrics for MATIC reveals a different picture.

According to data from Santiment, the Network Growth for MATIC has declined significantly in the last few days. This metric tracks the number of new addresses joining the network, and a decrease in Network Growth indicates that fewer new addresses are being created.

If this trend continues, it could hamper the chances of a price reversal for MATIC, as a strong network growth rate is often associated with rising prices.

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