Polygon's new Addresses Over time

The term "new address" refers to addresses that had their first transaction on that date.

Average New Addresses per day Compared by Year

The next metric we'll look at is the average number of new addresses per day compared to each year to see how Polygon's new addresses have changed over time.

Insights

• The number of new addresses is less than 100 per day in the first year of 2020.
• In 2021, the volume increased in the middle of the year and remained stable at roughly 40k throughout the year, accumulating approximately 7 million new addresses.
• During a six-month period in 2022, the volume is exceptionally high,  with a surprisingly high total address count of 5 million.
• Polygon has attracted more investors with each passing year, rising from around 300 new addresses per day in 2020 to an astonishing 35k per day in 2022.

Original Dashboard:

Overview

• Polygon believes in Web3 for all. Polygon is a decentralised Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.

• Polygon is one of the most popular L2 networks that have been created as a second layer of Ethereum network in order to make easier and better the blockchain network, as well as work as a low-cost ecosystem. MATIC is the native token of Polygon and play an increasingly important role, securing the system and enabling governance.

• In this mega dashboard we are going to look at Active Wallets, Matic price against various metrics like circulating supply, market cap etc.

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  Active wallets

• Overall there are about 6.22M wallet active in total.

• With ~1M active wallets receiving MATIC tokens, and about 5.24M active wallets doing transactions.

• Recently we have seen a decrease in the daily activity of transacting wallets.

Original Dashboard:

Various Metrics

In this analysis, we use the Flipside On-chain data and especially ethereum.erc20_balances table to find the MATIC Circulating Supply. In this dashboard we discuss the following chart:

• Price Vs Circulating Supply
• Price Vs Market Cap
• Circulating Supply Vs Holders
• Price Vs Holders
• In some cases, a significant amount of the tokens are maintained by projects and foundations that should not be taken into account for calculating the circulating supply, so we filter these addresses using the Coingecko to reach the actual circulating supply value. You can see these addresses below:
  • 0x50d669f43b484166680ecc3670e4766cdb0945ce
  • 0xcbfe11b78c2e6cb25c6eda2c6ff46cd4755c8fca
  • 0xb316fa9fa91700d7084d377bfdc81eb9f232f5ff
  • 0xccb04768f3abcf1af1e749085ef67d8ec7c5fdd2
• Original Dashboard:

Conclusion

• We are seeing new users join Polygon with each passing day.
• We are also seeing a growth in the number of holder with each day.
• The price has see a fall in the recent times, however as it goes up with the rest of the market, we should see an increase rise in these metrics.
• Overall Polygon is going well and is healthy.