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

Polygon (MATIC) is seeing a surge in 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 widespread adoption of decentralized apps on the Ethereum (ETH) blockchain.

The Polygon chain now has 5.34 million unique addresses, up 12% from the first quarter of this year. according to Go to the project’s Twitter account. Transactions in the second quarter also increased by 4%, and the average cost of transactions decreased by 49% to $0.018.

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

Developer activity is also booming. The network added an average of 1,000 new contract creators per day in the second quarter.or Bring According to Polygon, the total number of projects is 90,514, “more than triple the pace of growth” in the first quarter.In addition, an average of 2,700 new contracts were signed live Daily in a chain of projects.

Polygon was recently selected by The Walt Disney Company to participate in the new 2022 Disney Accelerator Program.

According to the program, the accelerator will provide selected companies with “access to the broad creative expertise and resources of The Walt Disney Company” to help develop new entertainment experiences and products. Website.

MATIC, Polygon’s native token, is trading at $0.95 at the time of writing. The 12th largest crypto asset by market capitalization is up nearly 10% in the last 24 hours.

Don’t Miss a Beat Subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

follow me twitter, Facebook When telegram

Surf The Daily Hodl Mix

Check the latest news headlines

& Nbsp

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors need to do due diligence before making risky investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets. Also, Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Everyonephoto Studio/nsimsek0