Will Polygon’s Booming DEX Volume Help Matic Reach $1
Journalist
- Recently, Polygon’s DEX volume experienced a surge.
- MATIC reached its highest level in recent weeks.
The Polygon [MATIC] The network has the largest number of decentralized exchange (DEX) users. According to Dune Analytics data from Sea Launch, Polygon’s DEX volume exceeded $1.6 billion at the time of publication.
The network had the fourth largest DEX volume at press time. This was the highest value in more than a year. As of March 2023, the volume was approximately $1.5 billion.
Source: Dune Analytics
Polygon also ranked third when it came to the number of DEX users. At the time of analysis, the network had over 204,000 DEX subscribers.
Polygon PoS holds the 1 million threshold
Polygon’s Proof-of-Stake (PoS) addresses, recently added to Polygon, have faced the Proof-of-Stake issue in recent days. Stake concerned. The trend was upwards. The increase began around February 22nd and reached 1 million at that time.
Source: Polygonscan
February 29th marked the historic peak of this number, which had risen to over 1.22 million. At the time of writing, there were around 1.21 million PoS addresses active.
Combined with insights from an analysis of DEX volumes, it is clear that the network has seen increased activity in recent weeks.
TVL Retains $1 Billion
Polygon Network (TVL) Total Value Locked showed positive growth. AskFX analyzed the TVL via DefiLlama and noted a gradual increase that started at the beginning of the previous month.
At the time of writing, TVL was worth about $1.4 billion.
This is an important indicator of increased activity on the Polygon network. The slight increase in TVL is also in line with the recent increase in MATIC, a native token.
What is the current value of 1,10,100 MATICs?
MATIC starts strong but ends weak
AskFX evaluated the price movement of MATIC and found that there was a recent increase of more than 6% in the previous week. MATIC reached a trading level of around $1.09 the previous week, which was its highest level ever.
At the time of writing, the price was trading at around $1.06, down more than 2%.
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