Also known as matic polygon, is experiencing an increase in speed and transaction volume, according to data from CryptoQuant. This is notable as speed is an important indicator of the speed of circulation of a cryptocurrency, and trading volume also represents the amount of trading activity that takes place.
Despite the ongoing bear market, Polygon’s pace continued to increase. This shows that the coin is actively traded or used. This, cryptocurrency It is a positive sign for the company because it means it has strong demand even in adverse market conditions.
Looking at the trading volume, we can see that Polygon’s trading volume decreased until June 2022, when the bear market started. However, since then, trading volume has been on an upward trend, indicating that more and more investors are starting to take an interest in the coin.
Also, while Bitcoin made a new low in November after reaching $18,600 in June 2022, Polygon did not even close to the bottom with its price of $ 0.34. This shows that Polygon is more resistant to market fluctuations compared to other cryptocurrencies.
Most coins inevitably bitcoinWhile impressed by the move, it is worth noting that Polygon’s increased speed and trading volume in the face of macro issues and the ongoing crypto winter is an encouraging sign for the future prospects of the coin.
All in all, CryptoQuant’s data shows Polygon’s speed and trading volume has increased despite adverse market conditions. This is a positive sign for the cryptocurrency and it will be interesting to see how it will perform in the future.
You can follow the current market movements here.