• Polygon’s active addresses increased slightly, but fees and revenue declined in the last few weeks.
• MATIC’s chart was green, but metrics supported the bears.
• Despite the negatives, there was growth in Polygon’s GameFi network.
Polygon Active Addresses Increase
Polygon has seen a slight increase in daily active addresses over the last 30 days due to its zkEVM mainnet launch which attracted more users to the network. However, despite increased users, the network’s fees and revenue have declined over the last few weeks.
zkEVM Growth Stalls
At press time, zkEVM’s growth seemed to have stalled as evidenced by Dune’s data showing a decline in unique depositors on zkEVM and daily inflow by tokens. Additionally, Santiment’s chart showed a sharp decline in development activity and investor confidence for Polygon.
The League of Kingdoms
Despite these negatives, it is worth noting that there has been growth in Polygon’s GameFi network with The League of Kingdom choosing Polygon for their Drago update which could help propel user growth on Polygon and result in an increase in revenue in the coming months.
MATIC Price Increase
MATIC reacted positively to all of these updates with CoinMarketCap reporting that MATIC’s price increased by over 4.5% over the past seven days with it trading at $1.11 at press time with a market cap of $9 billion USDT making it one of the top 10 cryptos by market cap on CoinMarketCap leaderboard.
Polygon Profit Calculator
To check if your portfolio is green or not you can use Polygon Profit Calculator which allows investors to track their investments on this blockchain platform easily and quickly so they can make informed decisions about their investments going forward.