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Why MATIC is a silver lining in the current bear market

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Despite the ongoing bear market, MATIC's price went on an upwards trajectory, spurred by Polygon's achievements in the DeFi space.

chain. Since then, Uniswap has seen impressive growth and has become the leading DEX on Polygon in terms of trading volume.

Though the blockchain’s capabilities were immense in the DeFi space, its TVL has been on a declining trend, which was concerning. Not only that, but its network activity was also down, as evident from the dip in its daily active addresses and transactions.The blockchain’s DeFi ecosystem witnessed a major boost when it launched its zkEVM. However, the rollup’s fate was similar to that of the main PoS chain, as zkEVM’s networks were also dwindling for quite some time.

 

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