The MATIC study of an unprecedented hike with ‘development’ probe

ambcrypto.com:

Polygon, a layer-2 scaling solution on the Ethereum [ETH] network showcased some unprecedented rise. And, this movement was indeed enough to create headlines across the crypto community. So what exactly happened with the layer 2 scaling solution?

Polygon’s native token MATIC has been rallying all week, showcasing strong on-chain fundamentals. Polygon jumped more than 60% in the past week itself.

A thing to be considered was the hike in active addresses as compared to the token’s price.

Address activity on the Polygon network remained high and triggered a rally. This further showcased some divergence from the altcoin’s price action. Needless to say, the development activity saw a similar trigger.

Source: Santiment

Whale activity on the MATIC network also increased steadily- a good sign for holders on the Polygon network. In fact, the token made a comeback in the top 10 by trading volume among the 100 biggest ETHwhales.