Understanding Polygon's midway stagnation as Optimism and Arbitrum

Even though Polygon MATIC has been seeing growth in the DeFi space, other L2 solutions such as Arbitrum and Optimism OP have out-competed it in terms of TVL. However, this could change with the increasing activity of dApps on Polygon.

Timeline of , Polygon

Crypto whales are out in force as a new week arrives, moving a staggering $282.5 million in XRP and Polygon (MATIC). The crypto address tracker Whale Alert spotted a series of mounting transactions in the last 36 hours. Whales have moved XRP both to and from crypto exchanges Bitstamp and Bitso.

Polygon (MATIC) has seen an impressive increase of over 8% in its price over the past 24 hours. However, this increase is a drop in the bucket compared to what the token lost in 2022.

Japanese gaming company Square Enix has announced that it will be using Polygon, an Ethereum sidechain, as a base for Symbiogenesis, its upcoming Web3 experience. Naoyuki Tamate, producer of the game, cited the high transaction speeds and low transaction gas costs as the reasons for making this change in the game's design.

Starbucks Odyssey NFT-driven rewards program built on Polygon (CRYPTO: MATIC), which is still in closed-beta, is being sold for high prices on the secondary marketplace. What Happened: Since the launch of Starbucks Odyssey in December, its NFTs crossed over 360 in sales across Nifty Gateway, an NFT marketplace and $143,000 in total volume traded.

The price of Polygon's (MATIC) token has emerged as the leader among all other cryptocurrencies in the market, as it has recovered its pre-Terra levels. The token's price has risen to a 9-month high, reaching beyond $1.4 and displaying the potential for continued bullish trends ahead.

Bitcoin's 12% surge has lifted the crypto market, sending multiple altcoins above their crucial resistance levels. The last 24 hours have seen an uptick in the price of Bitcoin, which has fueled a bullish trend for other cryptocurrencies, including MATIC.

Polygon (MATIC) is looking to pare off its weekly losses with its price currently trading at $1.25, up 6.61% over the past 24 hours. The price action of MATIC is notably influenced by the protocol's current whale action, as pointed out by data analytics platform WhaleStats.

A trending Ponzi scheme that leverages the hype around Avatar: The Way of Water sci-fi movie has become the fifth largest holder of Polygon (MATIC), a core cryptocurrency of the Polygon network (MATIC) ecosystem.

The Avatar Ponzi scheme-related wallet — 0xc7728354f9fe0e43514b1227162d5b0e40fad410 — has accumulated over 22 million polygon (MATIC) coins. This movement has made the address the fifth-largest MATIC holder.

The Super Bowl Season has always been an exciting event and Polygon rides the wave through the minting of 1 million Super Bowl NFTs. But first, here's a quick glance of Polygon (MATIC) performance in the last few days: MATIC price is down by 1.43% as of press time Polygon NFTs riding the wave of the Super Bowl hype; now 4th largest in terms of NFT volume at $3.37 million MATIC price looks bullish for the long term Polygon knows exactly what to do with the Super Bowl hype and uses that to gather momentum.