There are some bullish notes about the state of Ethereum and Polygon regarding important on-chain metrics. Check out the latest reports below.
Ethereum and Polygon price reports are here
Ethereum (ETH) and Polygon (MATIC) are flashing strength amid the crypto market bounce, according to leading analytics firm Santiment.
As per the Daily Hodl, Santiment notes the number of whale addresses holding between 1,000 and 100,000 ETH has been increasing since early May.
“Ethereum has recovered quite well in July, up +29% for the month and +14% alone in the past 24 hours. Additionally, there’s an increase in the key 1,000 to 100,000 ETH address tier since early May where 131 new whale addresses have popped up on the network.”
Ethereum is trading for $1,533 at the time of writing. Ethereum is up more than 15% in the last 24 hours and more than 40% in the past seven days.
Santiment also notes that the address activity is rising for MATIC, the native token of Polygon, a scaling solution that aims to enable the widescale adoption of decentralized apps on the Ethereum blockchain.
Santiment also revealed that the address activity in MATIC is elevated in comparison to its price, which is down 66% from its all-time high of $2.69.
“Altcoins spent the first half of 2022 seeing market cap gains being flushed rapidly. However, projects like MATIC have made up for some of its losses quickly, jumping +63% in a week. Address activity is also rising, showing an intriguing divergence.”
Ethereum scaling solution in the news
It’s been revealed that an Ethereum scaling solution has been just chosen for an important program these days. Take a look at the latest exciting reports coming from the crypto market.
The Walt Disney Company revealed their plans to support a surging crypto project through its new accelerator program.
According to the latest reports, this year’s Disney Accelerator class is focused on the following:
“building the future of immersive experiences and specializes in technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) characters.”