Despite the bear market, Polygon (MATIC) is reaching monstrous records in terms of adoption. Moreover, it seems that the Level 2 blockchain is far from having said its last word.
Mass adoption of Polygon
JeuxServer, the company behind Polygon, recently released a report on the performance of the network during the second quarter of this year. According to this document, Polygon registered 5.34 million unique addresses. This corresponds to an increase of 12% compared to the previous quarters.
In addition, in this same period, the network facilitated almost 284 million transactions, for an estimated total routed amount of $5.56 million. It should also be noted that the blockchain welcomed more than 90,000 developers, which is triple the wave of arrivals recorded in the first quarter. In addition, Polygon would have received during this period a daily average of 1,000 new creators and 2,700 new smart contracts.
Why such momentum?
This craze is probably due to the decrease in the average transaction cost, which fell by 49% in value to about $0.018. Moreover, the data also revealed that the NFT market had also been favorable to it. Indeed, more than 1.2 million new wallets Polygon were created via OpenSea in the second quarter. This generated an explosion of about 47% in the number of active unique wallets in the ecosystem.
The report highlighted the accelerated growth of certain sectors within the ecosystem. Indeed, DeFi and Web3 are very popular on Polygon. Some projects of the network have experienced an incredible surge, their user base showing an increase of up to 1,000% with a transaction volume reaching 972% progress.
In the light of this information, it appears that the Polygon blockchain was clearly on a positive momentum in the second quarter. A trend that could consolidate further if the deployment of Ethereum’s The Merge update were to fail or be postponed once again.
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I came to blockchain out of curiosity and I stayed there out of passion. I was amazed by the possibilities it offers through its various use cases. With my pen, I hope to help democratize this technology and show how it can help make the world a better place.