Polygon's response to SEC litigations has sent waves through the market. As MATIC sentiment rises, network growth falters, but upcoming tech announcements offer hope for the future.
Responding to this situation, Polygon took to Twitter to express its stance. In their tweet, Polygon conveyed their pride in being developed and deployed outside of the United States, emphasizing their commitment to the global community that supports their network.
We are proud of the history of the Polygon network – developed outside the US, deployed outside the US, and focused to this day on the global community that supports the network. MATIC was a necessary part of the Polygon technology from Day 1, ensuring that the network would be…Since its inception, MATIC has played a crucial role in ensuring the security of the Polygon network, making it an integral part of their operations.
According to LunarCrush’s data, social mentions and engagements related to MATIC have been increasing. If these conversations and engagements turn positive, it could have a favorable impact on MATIC’s long-term prospects. As of now, MATIC is trading at $0.601. Network growth has notably declined in recent months, indicating a lack of interest from new addresses. However, the total number of MATIC holders continued to increase despite the falling prices.
Thus, at press time, there was still confidence among existing holders, which could potentially contribute to the resilience of MATIC.There has been a material decline in Polygon’s number of active addresses and transactions over the past few weeks. However, there has been a resurgence of activity in recent days, indicating a potential rebound in network usage.Polygon’s Total Value Locked has also experienced a significant decline during this period.
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