Reasons to Remain Positive Despite MATIC Price Dropping 34% in One Month
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Polygon’s NFT sales saw a 9.6% spike in the last 24 hours. Whales were busy accumulating MATIC at discounted prices.
Despite how MATIC may be doing on the price front, Polygon remains the leader on a very important front. Namely, non-fungible token (NFT) activity on Ethereum Virtual Machine (EVM)-based blockchains in April.
Tracking Polygon’s NFT market
According to AMBCrypto’s examination of a Dune Analytics dashboard, Polygon handled around 3.4 million transactions on 15 April, a number that was nearly 1o% higher than the one a week prior. Polygon’s dominance could be gauged by the fact that the second-best performer, BNB Chain, could only clock 1.9 million transactions, nearly half of Polygon’s count.
While Polygon clearly dominated EVM rankings, its overall market performance was equally impressive. Polygon stood as the fourth-largest chain in NFT trading volume over the last 24 hours at press time, with a 9.6% spike pushing sales past $2.5 million, as per CryptoSlam data.
In fact, the network has been holding the fourth position for more than a month now, trailing top Layer-1 (L1) chains like Ethereum, Bitcoin, and Solana.
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