Social Links
Polygon Records 330% Increase In Active Addresses Exceeding ...
Business

Polygon Records 330% Increase In Active Addresses Exceeding Ethereum.

Over the last three months, layer-two aggregator Polygon has witnessed a 330 percent increase in active addresses. This year, layer-two protocols have witnessed massive growth, and one of them has momentarily exceeded the network for which it provides a scaling solution in terms of active addresses.

On Monday, Polygon had 351,000 daily active addresses, while Ethereum had 326,000, according to recent data reports.

According to Polygonscan, the number of active addresses increased dramatically on Sept. 20, peaking at 426,586 on Monday before dropping to 385,740 on Tuesday.

According to Etherscan, Ethereum’s daily active address count was 457,402 on Wednesday, meaning the two are now very well matched.

This year, layer two protocols have witnessed massive growth, with one of them momentarily surpassing the network for which it provides a scaling solution in terms of active addresses.

In the last three months, the number of active addresses on Polygon has increased by 330 percent, whilst Ethereum’s has decreased by 12%. Max, on the other hand, only rebranded to Polygon in February and began operations in March, so its growth has been speedier.

According to Polygonscan, Polygon has a higher amount of transactions right now, with 5.7 million total transactions on Wednesday compared to 1.1 million on Ethereum’s layer one.¬†

Mark Cuban, a billionaire investor, added Polygon to his portfolio in May, providing it a significant boost. Its native coin, still known as MATIC, has climbed 5.2 percent in the previous 24 hours to $1.14, according to coinmarketcap.

According to BitInfoCharts, the average transaction fee on the Ethereum network is currently around $23. More sophisticated activities, such as decentralized exchange token switching or smart contract interactions, can cost up to $66 in gas, according to Etherscan.

Leave a Comment

Your email address will not be published. Required fields are marked *