Nikolas Sargeant
Polygon’s active addresses surpass that of Ethereum
The Polygon network has experienced a massive increase in the number of active addresses on the blockchain in recent months. Over the weekend, the network reached a new milestone, with its active addresses surpassing that of Ethereum.
Ethereum remains the second-largest cryptocurrency by market cap and the leading smart contract blockchain in the world. However, according to data obtained from Polygonscan, the number of active addresses on the blockchain has now surpassed that of the Ethereum network.
The data showed that Polygon’s count of unique daily addresses active either as sender or receiver rose to a record high of 566,516 over the weekend. This is the highest it has ever been, and it is the first time it is surpassing the total number of active addresses on the Ethereum blockchain.
Furthermore, the data showed that the number of active addresses on Polygon has grown by 168% in the past month. This is a huge improvement compared to that of the Ethereum blockchain, which only grew by 0.6% over the past 30 days.
Similar to the other programmable blockchains like Solana and Polkadot, Non-fungible tokens (NFT) adoption and gaming have been the major reasons why the Polygon network is experiencing an increase in the number of active addresses.
The cryptocurrency market has been performing well over the past few days, with prices recovering after underperforming in recent weeks. MATIC, the native coin of the Polygon blockchain is also one of the top performers over the past week. Its price has been up by more than 10% in the past seven days despite the market slightly retracing. At the time of writing, MATIC is trading at $1.27 per coin.
