Despite the bear market, Polygon (MATIC) is hitting monstrous records in terms of adoption. Furthermore, it appears that Level 2 blockchain is far from having said its last word.
Mass adoption of Polygon
Polygon, the company behind Polygon, recently released a network performance report during the second quarter of this year. According to this document, Polygon would have registered 5.34 million unique addresses. This corresponds to an increase of 12% compared to previous quarters.
Moreover, in this same period, the network has almost become easier 284 million transactions, for a total amount channeled estimated at $ 5.56 million. It should also be noted that the blockchain has welcomed more than 90,000 developers, three times the wave of arrivals recorded in the first quarter. Additionally, Polygon reportedly received a daily average of 1,000 new creators and 2,700 new creators smart contracts.
Why such momentum?
This excitement is likely due to the drop in the average transaction cost, which dropped 49% in value to around $ 0.018. On the other hand, the data also revealed that the NFT market was also favorable to it. In fact, more than 1.2 million new wallets The polygons were created via OpenSea in the second quarter. This generated an explosion of around 47% in the number of unique wallets active in the ecosystem.
The report highlighted the accelerated growth of certain sectors within the ecosystem. In fact, DeFi and Web3 are very popular on Polygon. Some network projects have experienced incredible growth, with their user base growing up to 1000% with a transaction volume of up to 972%.
In light of this information, it appears that the Polygon blockchain clearly had positive momentum in the second quarter. A trend that could consolidate further if the implementation of Ethereum’s The Merge update fails or is postponed again.
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I came to the blockchain out of curiosity and stayed there for passion. I was amazed at 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.