Polygon Witnesses Growth In GameFi But Sees Lurking Bears To Impede MATIC’s Rise
Over the past 30 days, a slight increase in Polygon’s daily active addresses has been registered due to the launch of the zkEVM mainnet which attracted more users to the network.
zkEVM is a virtual machine that allows zero-knowledge-proof computation to be performed on smart contracts. It plays a big role in building an EVM-compatible ZK Rollyup while preserving the battle-tested code and knowledge gained after years of working with Solidity.
After its successful launch, zkEVM’s growth seemed to have stopped at press time. According to the charts, unique depositors on zkEVM have shown a decline and a similar downtrend was also seen in the daily inflow of tokens.
The current metrics might be concerning and could bring more trouble for Polygon in the coming days. In fact, Polygon’s development activity went significantly down last week showing fewer efforts by developers to improve the network. In addition, MATIC’s weighted sentiments also declined, showing less confidence from investors.
But despite the negative data, it’s still interesting to see the growth of Polygon’s GameFi network. This type of development could still drive increased revenue in the coming months.
Moreover, MATIC remained its positive reaction to the updates. MATIC’s price also increased by over 4.5% in the last seven days and is currently priced at $1.15 and is up by 2.87% in the last 24 hours.
Meanwhile, the Polygon blockchain is still gaining traction among traders with fast transactions, lower gas fees, and Ethereum’s provenance. From hosting popular games to partnering with major brands, Polygon’s versatility is still something to watch out for.
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