Metrics support price growth. Polygon revealed the achievements of its zkEVM since its launch. MATIC’s reaction isn’t up to snuff, but metrics support price growth. Polygon [MATIC] has a lot to share with the crypto community about its zkEVM implementation.
To provide the perfect EVM opcode equivalent for seamless user experience and Ethereum security, Polygon zkEVM is the first zk-rollup with source code available. According to a tweet dated December 24, Polygon’s zkEVM, since its launch in October 2022, has processed almost 22,000 transactions.
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The tweet also revealed that 10,508 wallet addresses had been created. In addition, the total number of contacts delivered increased by more than 4%. Additionally, Polygon zkEVM remains the first ZK volume compatible with EVM and the only ZK volume with source code available for every component, including examples. Interestingly, not only zkEVM but also Polygon’s NFT space has seen progress.
According to NFT Scan, more than 1,000 NFT contracts were created in the last 24 hours, and NFT Polygon’s volume reached more than 73,000. Santiment’s chart also shows that MATIC’s NFT trading volume and USD trading volume have increased over the past few days.
This shows the popularity of Polygon in the NFT environment. Another significant event was revealed recently when Polygon surpassed BNB in terms of the number of daily transactions. This was reported on Twitter by the crypto-analytics company Delphi Digital.
Has MATIC Been Affected?
While these developments are good for Polygon, MATIC also made a list of winners around Polygon. However, MATIC’s weekly price action isn’t up to snuff. Due to the bearish market conditions, the growth of many cryptos in MATIC saw limited movement.
At press time, MATIC is trading at $0.797 with a market value of over $6.9 billion. However, things may change soon as MATIC’s Market Value to Realized Value (MVRV) has dropped significantly in the last month. This can be an indication of the bottom of the market.
MATIC active addresses remained constant, which is also a good sign. Data from CryptoQuant revealed that MATIC’s FX portfolio is slowing, suggesting little selling pressure. Nevertheless, the progress of the Polygon network does not seem optimistic, which may cause problems in the coming days.