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.
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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