Polygon network activity spikes as NFT sales reach new height
Polygon's NFT market continues to attract users, though the demographic is more aligned to gaming companies and developers than collectibles as on the Ethereum network. The number of nonfungible tokens (NFT’s) sold on the layer-two protocol Polygon reached an all-time high last month at just short of 2 million. According to Dune Analytics, this marks a near 60% rise in comparison to November and the third consecutive monthly increase for the network.An Ethereum-based scaling solution seeking to construct, distribute and manage securities on blockchain technology, Polygon’s ecosystem has....
Related News
Ethereum (ETH) is beginning to show signs of a potential bullish reversal, with the second-largest cryptocurrency by market cap climbing 9.1% in the past 24 hours. Alongside the price surge, Ethereum’s network activity has seen a notable uptick. Ethereum Network Activity Explodes Amid Price Rally According to a recent CryptoQuant Quicktake post by analyst Carmelo_Aleman, […]
BitMart, a premier global digital asset trading platform, is one of the pioneering exchanges to integrate with the Polygon network and support the Polygon ecosystem. BitMart only supported MATIC ERC-20 token payments in the past, however, with this new integration, all BitMart users can transfer funds directly to the Polygon PoS network more efficiently. Polygon […]
On-chain data shows that some activity metrics related to Polygon have surged recently, which could be positive for the asset’s price. Polygon Active Addresses & Age Consumed Have Spiked Recently In a new post on X, the on-chain analytics firm Santiment discussed the latest trend in two MATIC indicators. The first is the “Daily Active Addresses,” which tracks the total number of addresses participating in some kind of transaction activity on the network every day. The unique number of active addresses can be considered the same as the unique number of users participating....
Polygon has unveiled a $100 million budget for a new blockchain network dedicated to Web3 development. The network, dubbed Supernets – application-specific blockchains with enhanced efficiency – aims to promote an ecosystem of activities centered on innovation on the Polygon network and Web3 in general. Sandeep Naliwal, co-founder of Polygon, announced in a statement: “The […]
Layer 2 scaling solution Polygon has maintained strong network activity even as the broader cryptocurrency market and its native token, MATIC, experienced a downturn in the second quarter of 2024, according to a new report from market intelligence platform Messari. Polygon Weathers Crypto Market Downturn While MATIC saw a 44.3% drop in its circulating market cap to $5.5 billion over the quarter, placing it as the 20th largest crypto asset (currently at the 26th position), the protocol’s on-chain metrics remained strong. This is in contrast to larger cryptocurrencies such as Bitcoin....