Polygon (MATIC) Surpasses 4 Billion Transactions Amid Soaring Usage

Polygon (MATIC) Milestone Achievement

Polygon (MATIC) has achieved a significant milestone in total transactions, indicating rapid adoption of the network.

The recent surge in activity comes despite relatively unremarkable MATIC price movements.

This continues a trend of frequent milestones for the Polygon (MATIC) blockchain.

4 Billion Total Transactions

On Friday, May 17, the Polygon (MATIC) Network surpassed the 4 billion total transactions milestone, less than four years after its launch in June 2020.

For perspective, it took Bitcoin nearly 15 years to reach the 1 billion transaction milestone, and Ethereum almost a decade to approach about 2.4 billion transactions at the time of writing.

The recent milestone signifies a significant surge in activity over recent months, with a billion transactions processed in approximately eight months. This uptick is also reflected in the consistently high number of daily active users on the network.

  • Since March 19, the network has maintained an average of over 1 million daily active users, spanning over a 60-day streak.
  • According to DappRadar data, notable dApps contributing to this traffic over the past 30 days include Matr1x, Galxe, and EARNM Rewards.

Implications for MATIC

Despite MATIC’s relatively stagnant price performance over the past year, the increasing activity suggests robust network fundamentals.

While major cryptocurrencies like Bitcoin, Ethereum, and Solana have experienced significant price surges, MATIC has remained within a narrow price range.

However, the growing network activity indicates the value proposition of the network and its hosted dApps, potentially benefiting MATIC holders in the long run.

Solana, a comparable network, has processed over 290 billion transactions within a similar timeframe as Polygon.

Polygon is the leading Ethereum scaling solution by market capitalization. The recent achievement signifies rapid growth and adoption, typically seen as positive for asset holders.