Layer two protocols have seen monumental progress this yr and one in every of them has briefly surpassed the community it’s a scaling resolution for, by way of energetic addresses.
The variety of day by day energetic distinctive addresses on layer two aggregator Polygon has surpassed these on the excessive charge layer one Ethereum in keeping with protocol co-founder Mihailo Bjelic.
In keeping with his stats, Polygon had 351,000 day by day energetic addresses on Sept. 27 whereas Ethereum had 326,000.
One other big milestone for @0xPolygon!
We eclipsed Ethereum L1 in day by day energetic addresses for the primary time!
That is just the start. We’re working around the clock to enhance our tech, strengthen our ecosystem and enhance adoption.
Let’s deliver the world to Ethereum! pic.twitter.com/K4sAF1y3LT
— Mihailo Bjelic (@MihailoBjelic) September 29, 2021
In keeping with Polygonscan, the variety of energetic addresses skyrocketed on Sept. 20, hitting a peak of 426,586 on the twenty seventh earlier than falling again barely to 385,740.
Etherscan is reporting that Ethereum’s day by day energetic deal with depend was 457,402 on Sept. 29 so the 2 are fairly evenly matched for the time being.
The variety of energetic addresses on Polygon has surged 330% over the previous 3 months whereas Ethereum’s have really declined by 12% for a similar metric over the identical interval.
When it comes to cumulative distinctive addresses, Ethereum is manner forward with 170.8 million as of Sept. 29 in keeping with Etherscan, whereas Polygon had 89 million complete district addresses yesterday. Nevertheless, Matic solely rebranded to Polygon and launched in February so its progress has occurred over a shorter time frame.
Polygon has a larger variety of transactions at current in keeping with Polygonscan with 5.7 million complete transactions recorded for Sept. 29 in comparison with 1.1 million on Ethereum layer one. This could largely be attributed to Ethereum’s excessive charges which have elevated once more lately.
DeFiLlama at the moment stories that the full worth locked of all protocols on Polygon is $4.81 billion, nevertheless it has greater than halved since its mid-June all-time excessive of $10.54 billion. The preferred protocol on the community is flash mortgage platform Aave which has $1.77 billion TVL, or 37% of the full.
Polygon obtained a large endorsement in Could when billionaire investor Mark Cuban added it to his portfolio. Its native token, which remains to be known as MATIC, has gained 5.2% over the previous 24 hours to achieve $1.14 in keeping with CoinGecko.
Ethereum transaction charges have skyrocketed once more in latest days which has contributed to the surge in exercise on layer two protocols. In keeping with Bitinfocharts, the typical transaction value on the Ethereum community is at the moment round $23. Extra complicated operations similar to DEX token swapping or sensible contract interactions can price as a lot as $66 in fuel in keeping with Etherscan.