Polygon POL surged to $0.2736 after a 12.7% rally as Active Addresses and Daily Transactions climbed, signaling renewed demand; however, rising profit-taking and positive Spot Netflows warn of short-term selling pressure.
POL rallied 12.72% to $0.2736 on higher on-chain activity
Active Addresses rose from 447k to 665k while Daily Transactions returned to ~4 million, per Artemis and Sealunch.
Buy Volume exceeded Sell Volume (86.7M vs 70.6M) but Santiment shows high profit-taking (profit/loss ratio 3.24).
Meta description: Polygon POL price jumps as active addresses and transactions rise; read on for on-chain signals, profit-taking risk, and short-term levels. Stay informed.
What caused the recent Polygon POL price rally?
Polygon POL price rose after stronger network demand: Active Addresses and Daily Transactions increased, while buyer accumulation outpaced sells. Market cap and trading volume expanded, but on-chain profit-taking and positive Spot Netflows introduce near-term caution.
How did on-chain activity change for Polygon?
Active Addresses climbed from 447k to 665k (Artemis), indicating renewed user engagement. Daily Transactions recovered to ~4 million, a 7.9% rise, reflecting more on-chain usage. Sealunch reported 780k transacting addresses for Polygon on August 18, ahead of Arbitrum (492k).
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Polygon’s recent PoS USDT upgrade to the USDT0 standard boosted USDT0 transactions, per X user Dhee. Over four months, Polygon processed rising XSGD volumes ($66M, $88M, $74M, $94M), suggesting growing stablecoin utility and positioning Polygon as a regional stablecoin hub (Petertherock).
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Source: https://en.coinotag.com/polygon-sees-rising-active-addresses-and-buyer-accumulation-but-profit-taking-and-netflows-could-curb-rally/