Polygon rises by 12% ── Active users also increase | coindesk JAPAN | Coindesk Japan

Ethereum blockchain Layer 2 scaling solution Polygon’s native cryptocurrency Polygon (MATIC) is up 12% in 24 hours, near $1.11. Strong momentum has continued since the beginning of the year, with the stock up nearly 50% since Dec. 31.

(CoinDesk and highcharts.com)

According to Token Terminal data, daily active users (DAU) also surged to about 345,000, making it second only to Binance’s BNB chain, ahead of Ethereum and Solana.

(Token Terminal)

The partnership announced by Polygon last month and the expectation of zkEVM’s mainnet operation have increased DAU, which seems to be a factor in the price increase. zkEVM went live on the testnet in October last year, and is scheduled to go live on the mainnet in early 2023.

“We are starting to see activity again as users and interest return to these types of networks,” said Charles Story, head of growth at crypto indexing platform Phuture.

“Also, many projects built on Polygon have not yet released their tokens and will do so soon, adding to the already increasing activity level,” he continued. .

According to DeFi Llama, Polygon currently has about $1.1 billion in assets under custody (TVL).

“We have seen a significant increase in TVL for risky projects and early-stage applications. In a bear market, investors would be conservative and avoid big risks, but now the market is recovering somewhat, so investment Houses are becoming more open to new, riskier ecosystems like Polygon, and as the market recovers, we will see more movement,” Storey said.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: CoinDesk and highcharts.com
｜Original: Ethereum Scaling Tool Polygon’s MATIC Token Surges Amid Spike in Transactions