Fri, May 24

Polygon Gained 75,000 New Users and Price Soars Upto 30%

Polygon Gained 75,000 New Users and Price Soars Upto 30% Altcoin News
  • Polygon active users have boomed to 75,000 within a week.
  • More users are attracted to Polygon as it offers “cheap and fast transactions”.
  • Polygon known as MATIC soars up 30% in a day.

Polygon has gained 75,000 new active users within a week, which shows the growth in demand for layer-two decentralized applications. It is the leading platform for building Ethereum-compatible blockchain networks.

According to the data from DappRadar, the top 20 Polygon Dapps are the reason behind the increased number of users.The emergence of new users produced about $1 Billion, while new users are referred as active wallets of Polygon Dapps.

Moreover, DappRadar tracked the number of Polygon Dapps and reported its growth of 93 from 61. Ian Kane, DappRadar’s senior content and media relations specialist, defined how developers use Polygon:

“Intriguingly, because the majority of DeFi dapps are built on open-source design, Polygon dapp developers are simply copying popular dapps on Polygon and other chains such as BSC and Ethereum. Rebranding them, adding a few new features, and releasing them on Polygon with one significant difference.”

Additionally, many users are attracted to Polygon as it offers “cheaper and faster transactions” than Ethereum-based competitors.

Matic Soars up 36% In a Day

Polygon’s original token, MATIC, has seen significant growth in the past seven days. This is one of the outperforming cryptocurrency this year.

MATIC’s value ascended by 5.7% to $1.66, gained more than 71% in the past week. It was trading for $2.11 this afternoon, soared  36% for the day, 137% for a week and 10,233% for the year.

The crypto expert Lark Davis has also tweeted on MATIC’s new all-time high.

In addition, MATIC has captured its place in the top 16 with a total market cap of $14 Billion at the time of writing. It has also integrated two more projects.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.