Traders expect 200% upside from MATIC, but does Polygon network data support that? By Cointelegraph

Traders expect 200% upside from MATIC, but does Polygon network data support that?

In the past year, Polygon (MATIC) has focused on growing their list of high-profile partners which includes luminaries like Disney, Starbucks (NASDAQ:) and Robinhood (NASDAQ:). The recent announcements of partnerships with both Instagram and JPMorgan (NYSE:) have speculators pushing the token price up nearly 200%.

In addition to partnerships, blockchain adoption through network usage is important to analyze. Blockchain adoption can be analyzed by looking into daily active users of the blockchain, protocols using the technology, number of transactions and total locked value.

Top blockchains sorted by TVL. Source: Defi Llama
Top blockchains sorted by protocol number. Source: Defi Llama
Polygon network fees and daily active users. Source: TokenTerminal