<p>Polygon [POL] 網絡在一月的第二週經歷了鏈上活動的激增。</p>
<p>AMBCrypto 報道稱，創紀錄的 POL 銷燬是由於 “需求和單日費用的歷史最高水平”。</p>
<p>鏈上指標顯示，當時的短期持有者處於盈利狀態，考慮到 POL 的長期價格趨勢，這代表了獲利了結壓力的威脅。</p>
<p>$0.18-$0.20 區域被強調為潛在的供應區。這一情況已經發生。在撰寫時，Polygon 代幣的交易價格為 $0.1245，較一月十日的 $0.1866 高點下跌了 33.28%。</p>
<h2><strong>鏈上活動減少顯示 POL 需求下降</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png"/></p>
<p>來源：Santiment</p>
<p>每日活躍地址指標在一月的第二週出現了急劇上升，恰逢 POL 價格上漲。此後，活躍地址數量穩步下降。</p>
<p>此外，網絡增長在過去兩週也有所下降。交易數量也回落至十二月的水平。</p>
<p>過去兩週的發展意味着鏈上活動的激增並不可持續。這可能有助於解釋 POL 需求的減少。</p>
<h2><strong>持有者行為顯示混合信號</strong></h2>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png"/></p>
<p>來源：Santiment</p>
<p>平均幣齡和 90 天的沉睡流通在本月早些時候的 POL 激增期間發生了劇烈變化。這表明短期持有者在反彈期間獲利了結。</p>
<p>然而，1 年沉睡流通幾乎沒有變化，顯示長期持有者的信心保持穩定。自一月十四日以來，平均幣齡開始上升，再次表明網絡範圍內的積累。</p>
<p>短期持有者的拋售也沒有出現，因為 90 天的沉睡流通在初始激增後保持平靜。</p>
<p>交易者和投資者可以在接下來的幾周內關注沉睡流通，以監測下一波拋售。</p>
<p>總體而言，鏈上活動的放緩令人擔憂。活動和對 POL 的需求再次上升可能會推動下一輪反彈。目前，交易者和投資者可以關注 $0.12 的支撐位。</p>
<hr/>
<h2>最後思考</h2>
<ul>
<li><em>一月初 Polygon 的價格和鏈上活動激增在隨後的幾周內並未持續。</em></li>
<li><em>在最近的反彈中，長期沉睡的代幣甦醒，顯示持有者在賣出反彈。</em></li>
</ul>

<p>Polygon (POL) 網絡在 1 月初經歷了鏈上活動的激增，導致了創紀錄的 POL 銷燬。然而，需求隨後減弱，POL 的交易價格為 0.1245 美元，比 1 月的高點下跌了 33.28%。關鍵指標顯示每日活躍地址和網絡增長的下降，暗示活動不可持續。雖然短期持有者獲利了結，但長期持有者保持穩定。交易者應關注 0.12 美元的支撐位和沉寂流通，以尋找潛在的賣出信號。總體而言，初期的價格激增和活動在接下來的幾周內並未得到維持</p>

<p>The Polygon [POL] network saw a surge in onchain activity in the second week of January.</p>
<div class="lb-trans"><p>Polygon [POL] 網絡在一月的第二週經歷了鏈上活動的激增。</p>
</div><p>AMBCrypto reported that the record POL burn was due to “an all-time high for demand and single-day fees generated”.</p>
<div class="lb-trans"><p>AMBCrypto 報道稱，創紀錄的 POL 銷燬是由於 “需求和單日費用的歷史最高水平”。</p>
</div><p>The onchain metrics showed that short-term holders back then were in profit, and given the higher timeframe price trend of POL, this represented a threat from profit-taking pressure.</p>
<div class="lb-trans"><p>鏈上指標顯示，當時的短期持有者處於盈利狀態，考慮到 POL 的長期價格趨勢，這代表了獲利了結壓力的威脅。</p>
</div><p>The $0.18-$0.20 area was highlighted as a potential supply zone. This has come to pass. At the time of writing, the Polygon token was trading at $0.1245, down 33.28% from the $0.1866 high it made on the 10th of January.</p>
<div class="lb-trans"><p>$0.18-$0.20 區域被強調為潛在的供應區。這一情況已經發生。在撰寫時，Polygon 代幣的交易價格為 $0.1245，較一月十日的 $0.1866 高點下跌了 33.28%。</p>
</div><h2><strong>Decreased onchain activity reveals reduced POL demand</strong></h2>
<div class="lb-trans"><h2><strong>鏈上活動減少顯示 POL 需求下降</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Santiment-Activity-scaled.png"/></p>
<p>Source: Santiment</p>
<div class="lb-trans"><p>來源：Santiment</p>
</div><p>The daily Active Addresses metric saw a sharp spike in the second week of January, around the same time as POL’s price rally. Since then, the Active Address count has steadily declined.</p>
<div class="lb-trans"><p>每日活躍地址指標在一月的第二週出現了急劇上升，恰逢 POL 價格上漲。此後，活躍地址數量穩步下降。</p>
</div><p>Moreover, the Network Growth has also fallen over the past two weeks. The transaction count has also declined, coming back to December’s levels.</p>
<div class="lb-trans"><p>此外，網絡增長在過去兩週也有所下降。交易數量也回落至十二月的水平。</p>
</div><p>The developments of the past two weeks meant that the surge in onchain activity has not been sustainable. This could help explain the reduced demand for POL.</p>
<div class="lb-trans"><p>過去兩週的發展意味着鏈上活動的激增並不可持續。這可能有助於解釋 POL 需求的減少。</p>
</div><h2><strong>Holder behavior shows mixed signals</strong></h2>
<div class="lb-trans"><h2><strong>持有者行為顯示混合信號</strong></h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2026/01/Polygon-Dormant-Circulation-Santiment-scaled.png"/></p>
<p>Source: Santiment</p>
<div class="lb-trans"><p>來源：Santiment</p>
</div><p>The Mean Coin Age and the 90-day Dormant Circulation moved dramatically during the POL rally earlier this month. This suggested short-term holders had taken profits during the bounce.</p>
<div class="lb-trans"><p>平均幣齡和 90 天的沉睡流通在本月早些時候的 POL 激增期間發生了劇烈變化。這表明短期持有者在反彈期間獲利了結。</p>
</div><p>However, the 1-year Dormant Circulation hardly moved, showing long-term holder conviction remained steady. Since the 14th of January, the Mean Coin Age has begun to trend upward, once more signaling network-wide accumulation.</p>
<div class="lb-trans"><p>然而，1 年沉睡流通幾乎沒有變化，顯示長期持有者的信心保持穩定。自一月十四日以來，平均幣齡開始上升，再次表明網絡範圍內的積累。</p>
</div><p>Capitulation from short-term holders was not seen either, as the 90-day Dormant Circulation remained quiet after the initial spike.</p>
<div class="lb-trans"><p>短期持有者的拋售也沒有出現，因為 90 天的沉睡流通在初始激增後保持平靜。</p>
</div><p>Traders and investors can keep an eye on the Dormant Circulation in the coming weeks to monitor the next wave of selling.</p>
<div class="lb-trans"><p>交易者和投資者可以在接下來的幾周內關注沉睡流通，以監測下一波拋售。</p>
</div><p>Overall, the slowing onchain activity was a concern. Another uptick in activity and demand for POL can drive the next rally. For now, traders and investors can keep an eye on the $0.12 support level.</p>
<div class="lb-trans"><p>總體而言，鏈上活動的放緩令人擔憂。活動和對 POL 的需求再次上升可能會推動下一輪反彈。目前，交易者和投資者可以關注 $0.12 的支撐位。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><h2>Final Thoughts</h2>
<div class="lb-trans"><h2>最後思考</h2>
</div><ul>
<li><em>The early January Polygon price and onchain activity surge were not sustained in subsequent weeks.</em></li>
<li><em>Long-dormant tokens woke up during the recent rally, a sign of holders selling the bounce.</em></li>
</ul>
<div class="lb-trans"><ul>
<li><em>一月初 Polygon 的價格和鏈上活動激增在隨後的幾周內並未持續。</em></li>
<li><em>在最近的反彈中，長期沉睡的代幣甦醒，顯示持有者在賣出反彈。</em></li>
</ul>
</div>

Can Polygon recover as on-chain demand fades? POL’s setup explained!

- Polygon 網絡在 1 月第二週的鏈上活動激增，導致 POL 銷燬創紀錄。  
- 活動指標顯示短期持有者獲利，造成利潤鎖定壓力。  
- 鏈上活動減緩，需求降低，市場關注 $0.12 支撐位。

隨着鏈上需求的減退，Polygon 能否恢復？POL 的配置解析！