Polygon Network Grows During The Bear Market

The network growth is steady as new distinct addresses have been created on a daily basis.The utilization has maintained the status quo making a huge contribution to the network growth.As most holders are experiencing their historical maximum losses, the momentum is again back on the buyers' side.Whales have been active recently, top holders might have slowly distributed their holdings.The number of unique addresses holding at least 10,000, 100,000, and 1,000,000 coins grows.Investment ThesisAlthough Polygon (MATIC-USD) top holders might have slightly distributed their holdings, many average stakeholders might have added more coins to their pack. For the moment, the network adoption has expanded while the network value is underestimated. This often leads to the formation of the local bottom because the buying momentum can be going back.The Polygon Network Growth Is StrongOne of the common facets of on-chain analysis is the network growth, which shows how many new users have joined the ecosystem. As seen in the following chart, the total number of unique addresses on the Polygon POS chain has gradually increased since MATIC's inception. It could be healthy for the network growth in the long term when new distinct addresses have been created on a daily basis and new users might have adopted the Polygon network.The network growth is steady as new distinct addresses have been created on a daily basis. (Polygonscan)In the meantime,...