Surging Ethereum (ETH) Scaling Solution Sees Rise in Network and Developer Activity Despite Crypto Bear Market

Surging Ethereum (ETH) Scaling Solution Sees Rise in Network and Developer Activity Despite Crypto Bear Market


Polygon (MATIC) is witnessing surging network and developer activity in the second quarter of 2022 despite the ongoing crypto bear market.

Polygon is a scaling solution that aims to enable the widescale adoption of decentralized apps on the Ethereum (ETH) blockchain.

The Polygon chain is now home to 5.34 million unique addresses, a 12% increase from the first quarter of the year, according to the project’s Twitter account. Second quarter transactions also increased by 4%, and the average cost of transactions fell by fell 49% to $0.018.

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Additionally, the nonfungible token (NFT) marketplace OpenSea witnessed 1.2 million new non-fungible tokens (NFTs) come online on Polygon in Q2.

Developer activity is also skyrocketing: The network added an average of 1,000 new contract creators a day in Q2.

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