The Rise of Polygon in EVM Chains
In the dynamic realm of blockchain technology, a paradigm shift is underway as Polygon emerges as the indisputable leader in inscription activity across EVM (Ethereum Virtual Machine) chains.
The inscription phenomena has gained significant popularity, according to the EVM Inscription Dune Analytics dashboard, which was maintained by Hildobby and unveiled on December 7.
The primary feature of this inscription trend is Polygon’s pivotal function as an Ethereum layer 2 scaling solution. It is clear from the Dune Analytics dashboard that it has become the hub for inscription activity in the EVM ecosystem.
Polygon Inscriptions Thrive Despite Recent Setbacks
Despite a recent decline, inscriptions continue to play a significant role on Polygon, accounting for 76% of all transactions on the chain. Two weeks ago, gas costs spent on inscriptions reached a peak of over $800,000 before leveling off.
The POLS Market, which specializes in polygon-focused inscriptions, is mostly responsible for this activity, according to Hildobby.
The data indicates that the inscriptions found on EVM chains are a persistent trend that is attracting the interest of both investors and blockchain aficionados. They are not just a random occurrence.
Outperforming Fantom
Fantom, the second-ranking entity in the EVM chain, has a far smaller number of inscriptions—26 million—than its competitors. The large disparity in inscription volumes between Polygon and Fantom highlights the exceptional momentum that Polygon has acquired following the inscription frenzy.
This spike in inscriptions has an influence that goes beyond the numbers. According to recent data, inscriptions have accounted for roughly 69% of all transactions on the Polygon network over the last week.
This statistical domination highlights how inscriptions have fundamentally changed the transactional landscape of the network and indicates a shift in user behavior toward more intensive engagement with inscription-related activities.
At the time of writing, Polygon’s native token MATIC was trading at $0.86, up 5.79% in the last 24 hours and tallied an impressive 10.4% rally in the last week, data from CoinMarketCap shows.
