- The average price of gas at Polygon zkEVM dropped dramatically last month
- The number of active addresses in zkEVM and the total transactions was significantly less than zkSyncEra.
Polygon zkEVM has been in the spotlight again, after reaching yet another important milestone. This is a reflection of its widespread usage and adoption. Despite the EVM’s latest achievements, it still has a lot of work to do to be able to compete against other EVMs, such as Starknet and zkEVM.
Milestone reached
Recently, Today in Polygon – a popular X account that provides updates on the development of blockchain – shared some recent news. revealed It is estimated that 11 million transactions have been completed by zkEVM. The rise in transactions corresponded to its high number of unique addresses, which touched 671k – A sign of high adoption.
AMBCrypto analyzes Polygonscan data This could be the reason why usage is increasing. According to the same source, zkEVM has seen its average gasoline price drop dramatically over the past few weeks. It is possible that this has attracted more users to the platform, which in turn has boosted its total transaction.
zkEVM did note a slowdown in network activity for May. Artemis’ data, Polygon zkEVM has seen a decline in the number of active addresses per day over the past few days. The EVM also saw a decline in its daily transactions, which was concerning.
It was not all good either in terms of captured value. It is evident that the revenue for zkEVM fell sharply from the beginning of the month.
Comparing Polygon zkEVM to other EVMs is not that impressive. For example, the zkSync Era launched a couple of days prior to zkEVM had an impressively higher number daily active addresses. On 2 May, the number of daily active addresses for zkSync was 256k, but zkEVM had only 2.9k.
zkEVM handled only 10,7k transactions that day. A similar trend could be seen with active addresses. zkSync processed 689k while zkEVM had just 10.7k. Both zkSync Era revenue and TVL are significantly higher for zkEVM.
MATIC’s Response
However, it’s important to note that MATIC became bullish after the above milestone was reached.
The following is a list of CoinMarketCapMATIC has seen its price increase by more than 5% over the past 7 days. Altcoins were trading at $0.7356 and had a capitalization over $7.2 billion. It was the 18th biggest crypto in the charts.
Click Here to Read Polygon’s [MATIC] Price Prediction 2024-25
The bullish sentiment also rose as a result of the uptick in price, after its dip on May 2. The MVRV has also increased, which indicates that investors are making more money lately.
AMBCrypto’s analysis of IntoTheBlock’s data Nevertheless, it was revealed that at the time of press, only 14% MATIC investors had made a profit. It’s clear that the community behind MATIC and altcoins has a way to go.
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Source: ambcrypto.com