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Overview

In this dashboard, I will answer this question from Flipside Crypto:

• How many addresses on the MATIC network are active?

• What’s the daily evolution of active addresses?

• Is the activeness related some how to the price?

Introduction

What is Matic on Polygon?

• MATIC is an ERC-20 token, meaning that it's compatible with other Ethereum-based digital currencies.

• MATIC is used to govern and secure the Polygon network and to pay network transaction fees

• Polygon uses a modified proof-of-stake consensus mechanism that enables consensus to be achieved with every block. (Achieving consensus using traditional proof-of-stake requires processing many blocks to achieve consensus.) The proof-of-stake method requires network participants to stake—agree to not trade or sell—their MATIC, in exchange for the right to validate Polygon network transactions. Successful validators in the Polygon network are rewarded with MATIC.

What are the characteristics of an active address?

• Active address is an address that has done at least one transaction or has received at least once a token in the past 3 months. medium

Method

• I first got the number of transactions per day.

• Then I considered the wallets that have been deposited in the last 3 months as active addresses.

• To do this, I checked the details of a deposit transaction.

• Another criterion I used to find active addresses was that they have at least one transaction. >I used FUNCTION_SIGNATURE != '0xa9059cbb'

• Then I used Ali table to prepare the daily price chart.

• Finally, I combined the price chart with the active address chart.

• In addition, to get these results, I used these 2 tables that I mention below

1. >flipside_prod_db.ethereum_core.fact_hourly_token_prices

2. >flipside_prod_db.polygon.transactions

Chart & Analysis

• The chart above shows the number of daily transactions and the number of addresses that have received a token at least once in the last 3 months.

• In this chart, the largest number of addresses is related to May 16, 2022.

• Most transactions were made on April 22.

• On June 2 and 3, the number (addresses and transactions) reached its lowest level.

• The chart above shows the number of active addresses provided they have at least one transaction.

• In this chart, the highest number of active addresses is related to June 6, 2022.~ 532k

• The lowest number of active addresses in 2022 is on June 3. ~4500

• Growth began on February 21, 2021.

• From September 22 to October 2, experienced its first leap and the number of active addresses reached 490k

• The following chart shows MATIC price over time.
• MATIC highest price occurred in the last days of 2021
• On December 27, 2021, MATIC price reached $ 2.82.

• The following chart shows the causal price versus the number of active addresses. As I understood

• MATIC price trend is slightly ahead of the number of active addresses.

• For example,

  • the MATIC chart began to grow sharply on April 23, 2021, but the number of active addresses began to grow from September 13.

• Or

  • MATIC chart started to fall from December 27, 2021, but the number of active addresses chart started to fall from June 6, 2022.

• MATIC highest price reached 2.827 on December 27, 2021.

• The highest number of active addresses on June 6, 2022 with an approximate number of 532.5k.

Additional information that may be helpful

• I brought two charts that show the number of active addresses, provided there is 1 transaction that does not matter whether it is a deposit or a transaction.

• There is a difference in the answer, but the general shape of the graph is the same as the answers above.

• To complete my dashboard, I will add them below

Conclusions

1. Number of active address is 12.01 M

2. Growth of active address began on February 21, 2021

3. the highest number of active addresses is related to June 6, 2022. = ~ 532k

4. MATIC price trend is slightly ahead of the number of active addresses.

• The above numerical table shows the number of MATIC active address over time