Polygon Surpasses Ethereum in Daily Active Addresses, but Faces Challenges in DeFi Space and MATIC Price Correction
Polygon outperformed Ethereum in terms of daily active addresses, with 399,950 users compared to Ethereum's 376,350. The surge in activity on Polygon can be attributed to several factors, including the performance of its dApps and the migration of y00ts NFT.
Blockchain Gaming Sector Sees Fluctuations in On-Chain Activity; Wax, Polygon Record Daily Active Wallets
Despite the slight decrease, blockchain gaming sector dominates with 44.37% active wallets. Q1 2023 sees bullish growth to 45.60%.
Polygon (MATIC) Becomes Second-Largest Gaming Blockchain in March After Surge in Activity: DappRadar
Polygon (MATIC), a layer-2 scaling solution, is making a name for itself in the gaming sector with impressive growth in daily unique active wallets (dUAW) last month, according to DappRadar. Polygon recorded 138,081 dUAWs in March, marking a 53% increase from the previous month, making it the second-largest gaming blockchain after Wax Blockchain (WAXP), which retains its seat as the leading gaming blockchain with its dUAW far surpassing that of Polygon by over 228%. On-chain gaming activity decreased by 3.33% in March to 741,567 daily Unique Active Wallets, but games still make up 45.6% of the DApp industry activity in Q1 2023.
Cointime News Afternoon Wrapup: Google and Amazon Struggle to Lay Off Workers in Europe
Labor laws make it difficult to fire staff in France, Germany.
Polygon and zkSync Capitalize on zkEVM Hype, but This is Why Things Could Go South
Both Polygon and zkSync have seen a surge in interest in the zkEVM sector, with a significant increase in their total value locked (TVL). However, the number of depositors on both protocols has started to fall, with a decline in the daily activity on both networks. According to Dune Analytics' data, the number of Ethereum deposits made through zkSync has declined from 40,000 to less than 10,000 over the last week, and in Polygon's case, the number of transactions fell from 2,300 to 257. While zkSync still has a lion's share of the zkEVM market, controlling 57.7% of all activity on zkEVM networks, Polygon is relatively new and has captured only 1.2% of the overall market. However, the hype around zkSync's upcoming airdrop and the positive sentiment around Polygon's existing token, MATIC, could attract users to both protocols in the long run. (ambcrypto)
Only Authentic NFTs Will Exist Soon as Polygon Partners With Wakweli
It is a known fact that counterfeit NFTs have proliferated in the market today. Even though NFTs only exist as 1-of-1, there are still people who dare to fake it and make a profit out of it.
Reddit Deploys Gen 3 NFT Avatar Contracts on Polygon
Reddit has deployed the third generation of its blockchain-based digital collectibles, called "Reddit Avatars," on the Polygon blockchain. The avatars were first introduced in July 2022 to empower artists to create and sell their work, and whenever users purchase a collectible, it can also be set as an avatar on Reddit's website. The avatars were made available in August 2022, generating thousands of dollars in sales for the artists. The deployment of Gen 3 on the Polygon blockchain has garnered excitement and praise from the community, with some predicting that the avatars would sell out in minutes. Reddit's NFTs have witnessed a surge in trading volume, with the collection reaching a new all-time high in terms of trade volume in October 2022.
Polygon: MATIC Could See Some Losses in Coming Days, Answering Why
Polygon saw a drop in network fees and revenue in recent weeks, even though the daily active addresses had increased by a small margin. The report highlighted a downturn in the weighted sentiment also.
Bitcoin Pushes Beyond US$28,000; Polygon’s Matic Leads Gainers, Same Chain Sees Surge in NFT Trades
Bitcoin rose by 1.36% to over $28,000 in the last 24 hours, while Ether gained 3.35% to reach $1,870.
Aave Governance Gives OK to BNB Chain, Polygon’s zkEVM
Recent “temperature check” votes provided overwhelming support for adding Aave’s latest version 3 to the newly launched Ethereum layer-2 rollup, Polygon zkEVM, as well as to Binance’s BNB Chain, an alternative layer-1. Both chains employ dapps using the Ethereum virtual machine (EVM).
