Polygon eclipses Ethereum in key network metrics

Polygon eclipses Ethereum in key network metrics

There is a growing evolution in digital currencies, with protocols linked to the Ethereum ecosystem recording a significant increase in the total number of users. Taking X, Polygon co-founder Mihailo Bjelic shared an update showing that the layer 2 scaling solution has now surpassed Ethereum in total monthly active user (MAU) count.

There is a growing evolution in digital currencies, with protocols linked to the Ethereum ecosystem recording a significant increase in the total number of users. Taking X, Polygon co-founder Mihailo Bjelic shared an update showing that the layer 2 scaling solution has now surpassed Ethereum in total monthly active user (MAU) count.

Advertisement

Ethereum versus layer 2 networks

While Ethereum is the foundational network for Layer 2 scaling solutions, it is rapidly losing some of its growth traction to these secondary protocols. According to data shared by Bjelic, Polygon MAU jumped to over eight million, while Ethereum’s remained below the eight million level.

Related

Tue, 06/11/2024 – 10:28
Solana Meme Coin Creator Bought 95% of His Own Supply

The switch to Polygon by users is understandable. The Dencun upgrade brought about a reduction in fees that makes the protocol even more attractive. Ethereum is developing, but the evolution of its L2s appears to be giving users more avenues to better adopt the decentralized finance (DeFi) ecosystem.

In addition to Polygon, protocols like Base and Optimism (OP) are also spearheading a major shift in the network that can accommodate more users. From performance to scalability to lower gas fees, Layer 2 protocols now form an unparalleled alternative for users looking to explore NFTs, gaming, and other new Web3-centric innovations.

Layer 2 ecosystem valuation drop

Despite outperforming Ethereum in several major metrics, layer 2 protocols and their associated tokens have a strong correlation with ETH. Everyone is being swept away by his bearish reign.

At the time of writing, Ethereum is changing hands for $3,527.53, down 4% in the last 24 hours. Following this drop, L2 tokens including MATIC, Arbitrum (ARB), and Optimism fell by 1.74%, 2.44%, and 1.6% to $0.6360, $0.9354, and $2.124, respectively.

Related

Tue, 06/11/2024 – 07:56
Ripple presents important initiative for Japan and South Korea

The Ethereum ecosystem is on edge right now, with the possible launch of the ETH ETF spot product. If this product starts trading, it could mean good bullish momentum for these and other associated tokens.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة