Surely it was not just the hype. There are now dozen of dapps on matic(polygon) that are getting a large number of daily users. DEFIs on polygon are getting larger with locked volumes. And unless any security crisis arises, I see polygon dominating the DEFI market soon. The category is tough to compete and remain but polygon seem to have the necessary means to make it a prominent competitor.
of course, it's not just a hype created in the market only to be corrected afterward.
what is happening today MATIC managed to get the enthusiasm of their community of traders and investors who made the price increase. it's all because of the updates that were made not because of ridiculous news published by people on social media alone.
Polygon has a good future. we are just waiting for the momentum to form in the next few years. could be 2024 or 2025.