Polygon leads in growth among altcoins amid falling crypto market

Polygon (POL), which recently replaced its MATIC token, has become one of the top growth leaders among altcoins as the market attempts to recover from the latest drop. Over the past day, POL has added about 3% and is trading above $ 0.25, and for the week, its growth is almost 12%. The intraday price reached $ 0.27, which coincided with an increase in the Polygon ecosystem and DeFi activity.

In particular, the total blocked value (TVL) of the network has increased by 43% since the beginning of the year. While in April, this figure fell to $ 788 million, in August it exceeded $ 1.23 billion. This indicates the growth of user confidence and a stable inflow of capital into the ecosystem.

Separately, Polygon is showing significant growth in the stablecoin sphere. The recent integration of Agora’s AUSD into the Miomi Game platform, which has more than 950 thousand users, was an important step. In July, the network recorded a record of $ 2.56 billion in terms of payments in stablecoins, and the number of active USDC addresses reached 3.16 million. In addition, USDT’s supply on Polygon has updated its historical high of $ 1.29 billion.

The active adoption of dApps, the growth of stablecoins, and the attention of institutional players make Polygon a prominent player in the DeFi space. According to Polygon Labs, it is the «trusted infrastructure ready for scaling and institutional demand» that attracts new partners.

Analysts assess the overall technical outlook of POL as positive. If buyers manage to break through the supply levels of about $ 0.26-$ 0.30, this could open the way for further growth. At the same time, the bears may try to test the key psychological support at $ 0.20.