- Polygon recently saw an increase in its DEX volume.
- MATIC rose to its highest level in weeks.
The polygon [MATIC] network had the highest number of Decentralized Exchange (DEX) users. From Sea launch data Dune AnalyticsAt the time of writing, Polygon’s DEX volume exceeded $1.6 billion.
As a result, the network had the fourth largest DEX volume at the time of writing, the highest level in more than a year. Previously in March 2023, the volume was approximately $1.5 billion.
Source: Dune Analytics
Furthermore, when examining the number of DEX users, Polygon ranked third. At the time of this analysis, the network had more than 204,000 DEX users.
Polygon PoS maintains the 1 million threshold
In recent days, Polygon’s Proof-of-Stake (PoS) addresses showed a consistent upward trend. The increase started around February 22 and exceeded the 1 million mark at that time.
Source: Polygon scan
This figure had risen to over 1.22 million by February 29, marking an all-time high. At the time of writing, the number of active PoS addresses was approximately 1.21 million.
Combined with the insights from the DEX volume analysis, it becomes clear that the network has experienced increased activity in recent weeks.
TVL retains $1 billion
The Total Value Locked (TVL) of the Polygon network has shown positive growth. AMBCrypto’s analysis of the TVL via DefiLlama showed a gradual recovery, which started earlier in the previous month.
The TVL was approximately $1.4 billion at the time of writing.
This is a key indicator of increased activity within the Polygon network. Moreover, the slight increase in TVL is consistent with the increase that MATIC, the native token, has recently experienced.
How much are 1,10,100 MATICs worth today?
MATIC finishes strong but starts weak
AMBCrypto’s assessment of MATIC’s price trajectory revealed a closing increase of more than 6% over the previous week. MATIC reached a trading position of around $1.09, marking its highest point in recent weeks.
However, at the time of writing, the stock was trading around $1.06, down more than 2%.
Source: TradingView