InstaForex

October 5, 2021

Solid! For the First Time Polygon (MATIC) Overcomes Ethereum (ETH)!

 For the first time Ethereum (ETH) overcame Polygon (MATIC) based on active user records on these two networks.


On Saturday, Polygon saw active addresses (for both recipients and senders) rise to a recent high of 566,516. In contrast Ethereum still maintains with a record 527,158 active addresses.


The number of active addresses on Polygon increased by 168% over the past month while Ethereum only recorded a 0.6% increase.


The drivers of the growth in the number of Polygon users can be detailed in the non-fungible token (NFT) sector and play-to-earn concept games.



The number of investors in Polygon OpenSea increased 45.5 -fold, and NFT sales jumped 17.5 -fold based on observations since July.

Arc8 Mining has managed to attract 104,000 daily active users since its launch on September 21, before the launch of its play-to-earn gaming platform, Arc8 which is expected to take place in the next few weeks.

High network usage indicates increased token demand, meaning the price per unit of MATIC will also increase.


Yet this time it was a bit different because even though the active address increased, the MATIC price failed to show a spike.


At the time of writing, MATIC has jumped 12% to $ 1.27 for the first four days of October.


In parallel, MATIC is still low compared to the $ 1.80 high recorded on September 5th. While for the record since the all -time high (ATH) on May 18, these assets have shrunk by almost 53%.