Solana

Polygon

Daily

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/polygon-tops-bnb-chain-in-daily-transactions-and-rivals-solanas-user-count" rel="noopener noreferrer nofollow">Polygon Tops BNB Chain in Daily Transactions and Rivals Solana’s User Count</a><br></p>
<p style="text-align: justify">Polygon, a leading Proof-of-Stake network, recently achieved a notable uptick in its on-chain metrics, surpassing BNB Chain’s transaction volume and challenging <a href="https://en.bitcoinhaber.net/solanas-rise-and-interoperability-with-ethereum-a-glimpse-into-the-future-of-blockchain" rel="noopener noreferrer nofollow">Solana</a> in daily unique users. A report highlighted a record 3.41 million transactions on February 1st, positioning Polygon as the second busiest platform in terms of daily transactions, just behind Solana. This surge aligns with an impressive average of 3.5 million transactions since February’s onset.</p>
<h2 id="user-engagement-and-nft-sales-soar">User Engagement and NFT Sales Soar</h2>
<p style="text-align: justify">Polygon’s active address count has seen a remarkable 75% rise over the past two months, with over 672,000 active addresses on a single day, exceeding Solana’s 644,000. A significant driver for this increase is the popularity of Inscriptions, which has also amplified the platform’s NFT marketplace momentum. CryptoSlam data reveals that Polygon’s NFT sales have skyrocketed, with a sixfold jump from October to January, even temporarily surpassing Ethereum in 24-hour NFT sales and securing the fourth spot in weekly NFT trade volume.</p>
<h2 id="market-performance-and-token-analysis">Market Performance and Token Analysis</h2>
<p style="text-align: justify">Despite a slight dip, MATIC, the native token of Polygon, has displayed a 6% appreciation on the weekly chart. The token has struggled to regain the $1 threshold after slipping below it early in 2024 and has seen an 18% decline since the year’s start. Santiment’s analysis illuminates a surge in addresses holding significant amounts of MATIC, suggesting investor confidence. In contrast, the derivatives market shows a growing number of traders betting on MATIC’s price drop, with short positions outpacing long positions in recent days.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/polygon-tops-bnb-chain-in-daily-transactions-and-rivals-solanas-user-count" rel="noopener noreferrer nofollow">Polygon Tops BNB Chain in Daily Transactions and Rivals Solana’s User Count</a></h5>

Polygon Tops BNB Chain in Daily Transactions and Rivals Solana’s User Count

Table of Contents

BH NEWS

Other articles published on Feb 13, 2024

Analyst Predicts Bitcoin’s Surge to $2 Trillion Market Cap by September 2024

Ethereum Price Surges As Bulls Break $2,500 Level! Will ETH Price Hit $3,000?

LUKSO Crypto: Can LYX Crypto Turn Around Or Keep Falling?

Cardano’s Recent Surge Hits Resistance as Market Watches for Next Move

Why Is Hedging Important for Crypto? A Deep-Dive in the Wake of Umoja’s Beta Launch

Historic Inflows: Spot Bitcoin ETFs Attract Over $1 Billion in a Single Week

Join our free newsletter for daily crypto updates!