Polygon outperforms BNB in terms of transaction count dApps on the Polygon network continue to grow, however TVL and revenue generated decline Polygon managed to make it to the headlines yet again, as the number of daily transactions on the chain exceeded BNB’s daily transactions. Delphi Digital, a crypto analytics firm, stated this via Twitter. […]
wasn’t able to perform well in the DeFi space, there was one sector where Polygon managed to see growth. This was the NFT sector., the hype around Polygon NFTs increased which resulted in a spike in the number of weekly NFT transactions.
Although there was an uptick observed in this category at the beginning of December, it could be seen that the number of transactions had slowly started to decline as time passed.The success Polygon witnessed in the NFT space failed to translate to MATIC’s on-chain metrics.The declining network growth suggested that the number of new addresses that transferred Polygon for the first time had reduced.Due to MATIC’s declining prices, the Market Value to Realized Value ratio of Polygon also fell.
At the time of writing, MATIC was trading at $0.797 and its price had fallen by 0.08% in the last 24 hours.Subscribe to get it daily in your inbox.
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