Polygon Network Growth Slumps, Where Will MATIC Price Go?

Matic has now ranked the tenth spot in terms of market cap and was showing a strong 8.5% gain in the last seven days. 

Daily active and new MATIC addresses have both fallen. new addresses dropped by 15.94% while active addresses saw a 10.69% pullback in the last week. 

Daily active addresses started to fall in tandem with prices from Dec 1. A drop in active addresses usually signals lower market activity as a bullish trend.

MATIC network growth is dipping combined with falling network growth this doesn't paint a very optimistic outlook for the price. 

Polygon's active developer count has continued to grow, Polygon also did well in terms of daily active users in the web3 space securing the second spot following BNB Chain. Polygon's daily active users are 412,430.

Daily active users in web3:

BNB Chain - 1.11m
Polygon - 412.43k
Ethereum - 364.84k
4⃣ Arbitrum - 53.11k
5⃣ Uniswap - 39.59k
6⃣ OpenSea - 39.53k
7⃣ Optimism - 31.96k
8⃣ Avalanche - 26.86k
9⃣ Blur - 8.34k
Lens - 5.62k
1⃣1⃣ PoolTogether - 5.26k
1⃣2⃣ Stargate - 3.86k

— Token Terminal (@tokenterminal) December 4, 2022

The total value locked in Polygon DeFi has continued to drop. Polygon TVL from an all-time high of $49.89 billion in June 2021. 

The live Polygon price today is $0.904180 with a 24-hour trading volume of $213,585,386 Polygon is down 0.70% in the last 24 hours. The current CoinMarketCap ranking is #10, with a live market cap of $7,897,396,718. It has a circulating supply of 8,734,317,475 MATIC coins and a max. supply of 10,000,000,000 MATIC coins.

Polygon price statistics the MATIC price change in 24 hours is -$0.00458 of 0.49%, 24 hour low is $0.9007 and 24 hour high is $0.9178 with 0.93% Market dominance. 

MATIC's 7-day low is $0.9018 and the 7-day high is $0.9486 with 19900.09% Polygon ROI. 

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