Polygon’s Daily Users Exceed Those of Ethereum and Solana Due to Rising DeFi Activity

In comparison to other Layer 1 and Layer 2 blockchains, Polygon’s growth rate over the last few weeks has been one of the most notable.

This has led to a dramatic increase in the number of people using Layer 2 blockchains every day, to the point where they now outnumber those who use even the biggest Layer 1 blockchains.

In terms of average number of daily users among public blockchains, Ethereum often stands alone. This is due to the fact that the blockchain is home to a great deal of decentralized finance (DeFi) activity, making it the go-to option for crypto users looking to take advantage of DeFi possibilities. Due to Ethereum’s prohibitive transaction costs, many DeFi enthusiasts have shifted their attention to Layer 2 blockchains like Polygon.

Polygon’s DAUs have increased steadily as a consequence of this migration, and the platform is currently more popular than rivals like Ethereum and Solana. DeFiLlama, a website that aggregates information on the DeFi protocol, reports that as of right now there are 405,084 people actively using the Polygon blockchain.

Ethereum has 332,000 DAUs for the same time period. This implies that there are presently over 50,000 more people using Polygon every day than using Ethereum. It has more users than both Arbitrum (172,968) and Solana (122,570) combined.

The total number of protocols on the chain is also on the increase, and is now third most among all DeFi chains, after Ethereum and BSC. There are presently 855 protocols on Ethereum, compared to 629 on BSC. Polygon, being the Layer 2 network with the most DeFi protocols, supports 445 different ones.

As the Polygon blockchain continues to expand, so too does the value of MATIC, which is now trading in the green. This emerging link between them could signal the beginning of another MATIC upswing.

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