Stablecoin

WeSleep

Giant

Polygon

Read

<ul>
 <li>Polygon’s Napoli upgrade aims to enhance scalability and performance, boosting MATIC’s growth potential.</li>
 <li>MATIC holders earn passive income through staking, with yields around 3%, attracting long-term investors.</li>
 <li>Polygon’s stablecoin market value rose 20% quarterly, with USDT leading at $792 million.</li>
</ul>
Polygon (MATIC) is often considered a “sleeping giant” by its holders, who believe in its strong growth potential. With many users staking their tokens to earn passive income, staking yields currently hover around 3%, making it an attractive option for long-term investors. Polygon’s recent Napoli upgrade aims to enhance scalability and performance, which could positively impact MATIC’s price in the coming months.
The stablecoin market value on Polygon has increased to $1.5 billion, marking a 19% rise quarter over quarter, with USDT leading the way at $792 million. This growth signifies increasing confidence and usage of stablecoins within the Polygon ecosystem.
Additionally, the number of daily active addresses in DeFi on Polygon surged by 67% to 50,000, showcasing growing engagement in decentralized finance activities.
Despite NFTs and social activities experiencing slower growth, there has still been a noticeable increase in activity. This diverse range of applications on the Polygon network indicates its expanding utility and appeal to different segments of the crypto market.
Looking ahead, the future of Polygon in the crypto industry appears promising. The enhancements brought by the Napoli upgrade, combined with robust staking opportunities and significant growth in the stablecoin market, position Polygon for substantial gains.
As the crypto market continues to evolve, Polygon’s potential to skyrocket, particularly in June, is backed by solid fundamentals and increasing user adoption. Investors should keep a close watch on this sleeping giant as it awakens to new heights.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/wesleep-unveils-its-sleepie-nfts/" rel="noopener noreferrer nofollow">WeSleep Unveils its ‘Sleepie’ NFTs</a></li>
 <li><a href="https://cryptonewsland.com/xrps-historic-milestone/" rel="noopener noreferrer nofollow">XRP’s Historic Milestones: Awakening the Sleeping Giant</a></li>
 <li><a href="https://cryptonewsland.com/why-the-crypto-space-should-not-be-sleeping-on-tezos/" rel="noopener noreferrer nofollow">Why the Crypto Space Should Not Be Sleeping on Tezos</a></li>
 <li><a href="https://cryptonewsland.com/amber-group-co-founder-died-of-undisclosed-causes/" rel="noopener noreferrer nofollow">Amber Group Co-founder Died of Undisclosed Causes</a></li>
 <li><a href="https://cryptonewsland.com/brazilian-financial-giant-to-launch-own-us-dollar-stablecoin/" rel="noopener noreferrer nofollow">Brazilian Financial Giant To Launch Own US Dollar Stablecoin</a></li>
</ul>
The post <a href="https://cryptonewsland.com/why-polygon-is-the-sleeping-giant-set-to-skyrocket-in-june/" rel="noopener noreferrer nofollow">Why Polygon is the Sleeping Giant Set to Skyrocket in June</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Why Polygon is the Sleeping Giant Set to Skyrocket in June

Crypto News Land

Other articles published on Jun 11, 2024

Bitcoin Cash and Dogecoin Investors Flock to MoonBag's Stellar Presale Raising $2 Million In One ...

ZkSync community reacts to airdrop debacle

3 Reasons Why Altcoins Are The Best Buy Right Now Comparing To Bitcoin

Seeking Superior Returns? Qubetics Whitelist Signals New Wealth Era And Tops Solana and VeChain

MoonBag Presale Raises Over $2M In One Month Offering Staking with 88% APY Leaving Pepe And Floki...

Ripple Launches New XRPL Fund to Boost Blockchain Innovation in Japan, South Korea

Join our free newsletter for daily crypto updates!