The MATIC study of an unprecedented hike with ‘development’ probe
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.
<p lang=«en» dir=«ltr» xml:lang=«en»>JUST IN: $MATIC @0xPolygon is back on top 10 by trading volume among 100 biggest #ETH whales in the last 24hrs Read more on ambcrypto.com
![Can Polygon [MATIC] take its winning streak to new highs as ZK becomes ETH compatible?](https://gocryptonft.com/storage/thumbs_400/img/2022/7/24/55652_w1p.jpg)
