• Polygon and Solana are both competing closely in terms of network activity, with Polygon having 400,000 daily active users and Solana having 300,000.
• Polygon’s TVL was significantly higher than Solana’s at $1 billion compared to $270 million.
• In the last 24 hours, MATIC’s price had increased by 2% while SOL’s value declined.
Polygon vs Solana: Which Token Takes the Cup Home?
A tweet posted by Narb on 3 July revealed that Polygon’s daily active users stood at 400,000, while Solana’s number was 100,000 lower. However, it was interesting to note that despite having a considerably smaller number of active users, Solana’s daily transactions were higher than those of Polygon. This suggested higher user retention and activity on the former blockchain.
Total Value Locked (TVL)
MATIC’s TVL was considerably higher than that of Solana. At the time of writing, MATIC’s TVL was near $1 billion while SOL’s TVL was just near $270 million. A similar trend was also noted on DEX volumes as they were also in MATIC’s favor.
Market Caps & Price Action
The market caps of both networks were comparable at press time, as SOL was the 10th largest token and MATIC was the 12th largest. According to CoinMarketCap , MATIC’s price had increased by 2% in the last 24 hours while SOL’s value declined. At press time, MATIC was trading at $0.7092 with a market cap of over $6 billion . But according to CryptoQuant , MATIC’s exchange reserve was increasing which meant it was under selling pressure – a bearish signal.
MATIC’s MACD revealed a bullish upper hand in the market but other indicators supported sellers instead such as its increasing exchange reserve indicative of selling pressure – a bearish signal .
It looks like there is no clear winner between these two tokens yet as their respective metrics have their own pros and cons for each token depending on what one is looking for from an investment standpoint; though it seems like investors are currently enjoying profits from investing in Polygon right now based on its current price action .