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Polygon's zkEVM Platform Experiences Significant Growth in TVL and Transaction Volume, Bucking the Trend of Declining TVL Across Most Blockchains in May 2023

Polygon's zkEVM platform has defied the trend of declining Total Value Locked (TVL) seen across most blockchains in May 2023, experiencing significant growth in both TVL and transaction volume. The platform's unique features, such as scalability, privacy, and interoperability with Ethereum, have made it attractive to DeFi projects.

This increase in TVL and transaction volume is a positive sign for the DeFi ecosystem, indicating growing interest and confidence in the protocols and underlying infrastructure. The recent upgrade to Polygon's zkEVM Mainnet Beta may have contributed to the surge in TVL, which increased by more than 20% in just 24 hours.

The platform's activity surged by over 20% in 24 hours after co-founder Sandeep Nailwal hinted at a possible AirDrop, and the recent upgrade has fixed earlier flaws and improved the overall user experience, potentially attracting more users in the future. The transaction volume on the zk-rollup has been increasing due to the growing use of DeFi and other dApps. Polygon has completed the update and full network service has resumed normally, with users advised to use the latest versions of the node and prover.

Ethereum Ethereum $3,325.06
+7.71%
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