Polygon PoS hit new all-time high for daily active addresses, up 227% YTD
Polygon Weekly Overview - July 5
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By The Numbers
Polygon daily active users: 1.669M
Polygon daily txns: 3.78M (-14.1%)
Polygon Total Volume Locked (TVL): $818.88M (-4.8%)
NFT weekly sales volume: $25.1M (+29.6%)
Top 3 NFT collections by sales volume:
Base Ape Polygon: $3.6M
Poker NFT: $2.2M
Sea Dragon: $1.9M
These metrics were taken prior to publication and percentages are calculated on a 7-day change.
Polygon Spotlight
Highlighting some of the biggest updates on Polygon this week.
🟪 What happened: The number of daily active Polygon PoS addresses hit new highs on Tuesday, according to PolygonScan data.
🟪 Why does it matter: The number of active addresses on Polygon PoS has increased significantly since mid-February and is up 227% since the beginning of the year. The number of unique addresses active on Polygon PoS peaked on Tuesday at 1.67M, up 20.9% from the month-ago date. This is unprecedented growth for the network, arguably fueled by new innovations and teams ramping up development within the protocol.
Not only did Polygon PoS hit all-time highs for active addresses, but it also had the most active users across all chains on Monday, according to Dune data by cryptokoryo.
🟪 The big picture: The number of active addresses on Polygon PoS was about 356,000 on the year-ago date, showing that the activity on the protocol has ramped up significantly in a 12-month time frame.
As these metrics continue to grow (or even if they remain constant) the number of users on the network becomes an attractive metric for new developers and users looking to enter the space. More often than not, people will gravitate to areas where there’s already traction, so this makes Polygon PoS a strong landing zone and entry point for newcomers and existing crypto-natives alike.
Forging the Ecosystem
Witness Chain, which uses Polygon CDK, announced its Phase 2 is now live on mainnet
Sentient raised $85M in a seed round led by Peter Thiel’s Founders Fund to create an open-source AI platform built on Polygon
Ronin, which is expanding ZK proofs for web3 gaming on Polygon, hit new highs for monthly active addresses in June at 3.6M, according to Footprint Analytics data
Highlighting the community
A recent Polygon Protocol Governance Call highlighted several key updates to improve the network, X user Everstake_Masha gives an update for those who missed it
ICYMI: Polygon hosted an X space diving deep into DePIN and DIMO, an open-connected-vehicle protocol
Papaya dApp, an onchain subscription-based service, is live on Polygon PoS
Featured headlines
You might have seen these Polygon-related headlines recently…
Miden Pioneers: Composability Labs is Building Spark, a Superfast Onchain CLOB with a State-minimized Approach (Polygon blog)
Polygon Miden Launches $35M Grant Initiative to Propel Innovation (Crypto News Flash)
Why Can Google Cloud's New Alliance With Polygon Labs Be a Game-changer for Web3 Development? (BSCN)
Join in the fun
Want to dive into the Polygon ecosystem full-time? Find the latest job postings here.
Dive into the Polygon developer community and join its Discord
Build on Polygon and apply for a grant to receive a portion of $800K in MATIC
Reminder: there’s 1 billion POL that will be unlocked over the next decade to fund community growth
Learn more about the AggLayer from various founders at Aggregation Day Brussels on July 9
And check out additional events in a 🧵 here
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.