In Q2, Layer 2 network Polygon experienced significant growth following the launch of its zkEVM in March.
of its mainnet beta launch, the count of unique active wallet addresses on Polygon zkEVM had climbed by 300%. It went from 12,658 addresses on 1 April to 49,673 addresses by 27 April.
Interestingly, soon after Polygon zkEVM launched, transactions across Polygon began declining. Messari found: “Conversely, the number of transactions on the Polygon network experienced an 18% decline QoQ, decreasing from 2.9 million daily transactions to 2.4 million daily transactions. This decline in transaction volume directly corresponds to the launch of the zkEVM.”This occurred in contrast to the daily transactions count on the Polygon zkEVM in its first month. According to Polygon, the total number of transactions during that period rallied by over 300% in just about 30 days.
“In Q1 2023, the TVL stabilized, and this stability carried over into Q2 2023. Polygon concluded the quarter with a TVL of $1.09 billion, securing its position as the fifth-ranked chain in terms of TVL”Lastly, Messari noted that the average weekly NFT sales volume on Polygon increased by 42% during the quarter under review to touch $8.6 million.
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