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Polygon Daily Address Creation Hits 2-Year High; Bullish for MATIC?

Despite recent declines in the cryptocurrency market, Polygon (MATIC) has seen a surge in the number of new addresses created daily on its Layer 2 blockchain, which aims to help Ethereum with its scalability.

On May 22, the number of new MATIC addresses created on the Polygon network reached levels not seen since February 2021, according to data from crypto analyst Ali Martinez.

As of May 23, the total number of all addresses on the Polygon chain amounted to 1,838,035, recording an increase of 10.68% from January 1, 2023, and 39.3% growth since this time last year.

Despite a recent drop in price, Polygon has announced a massive upgrade of its network fee structure, zkEVM optimizations, and a 20% cut in transaction fees, hinting at the possibility of price growth in the near future.

Polygon Polygon $0.57
-1.82%
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