Current Polygon active addresses exceed 340,000. This year, DeFi on the network has climbed by 20%.
Today’s crypto markets are in the red, but Polygon’s MATIC currency is rising. It has now supplanted Solana in the crypto top 10.
Polygon is currently one of the 10 largest crypto assets by market capitalization, which is $9.7 billion. This year, the Ethereum layer-2 scaling network has grown in strength.
According to Token Terminal, the number of daily active Polygon users has overtaken that of Ethereum. According to the statistics, BNB Chain has the most daily active users, with about 800,000.
Nonetheless, Polygon is currently second with 340,000, surpassing Ethereum’s 320,000 by a little margin. Polygonscan verifies the rise in daily active chain addresses around 400 thousand. In addition, the measure has grown by 21% in the preceding two weeks.
Etherscan says that on January 26 there were 341,000 active Ethereum addresses. Since the beginning of the year, the total value of Polygon DeFI has also climbed. Currently, TVL on the network is $1.28 billion, according to DeFiLlama. This marks an almost 20% increase from January 1.
AAVE is the most popular platform on Polygon, with a 25% market share. Polygon is the fourth biggest DeFi ecosystem after Ethereum, BNB Chain, and TRON. It has 80% more secured collateral than Solana.
According to Polygonscan, the network presently conducts around 3 million transactions every day. Comparatively, Ethereum’s supply is around a third smaller at 1 million. Daily, the Bitcoin network conducts around 300,000 transactions.
Polygon teamed with Arkham intelligence, a blockchain analytics firm, on January 26. On January 20, it teamed with BitGo to give MATIC holders staking capabilities.
On January 17, Polygon reported that the Delhi hard fork, which aims to cut gas prices and address chain rearrangement, has been successfully completed.
MATIC’s price momentum is reflective of the optimistic on-chain activities. Consequently, the coin rose 8.7% on the day to $1.09 at the time of publication. Surprisingly, MATIC is advancing in the opposite direction of the rest of the cryptocurrency market, which has slightly fallen.
MATIC has gained 14% over the previous week, surpassing the psychological $1 threshold for the first time since November two weeks ago. It has gained 45% since the beginning of the year, which is an outstanding increase. However, MATIC prices are still 63% lower than their all-time high of $2.92 in December 2021.
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