Here’s Why Traders Are Stacking MATIC Over Ethereum? MATIC Price Hitting $3 Seems Imminent
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The world of cryptocurrencies hosts a wide array of protocols, and a number of which have been excelling at their own terms. Whilst layer-1 protocols have always been the priority of folks from the town. Polygon has been challenging the likes of bigger names with its industry. And has managed to establish its reign, despite the hegemony of layer-1s.
Successively, the Polygon network has been taking giant strides in numerous fronts. Be it adoption, utility, developments, community engagement, or growth metrics. In a recent update, the network has welcomed a $450 M funding led by Sequoia capital, featuring a number of others. In contrast, the protocol has been eating up numbers of bigger layer-1 rivals.
Will Polygon Eradicate The Hegemony Of Layer-1s?
Polygon in a recent round of funding led by Sequoia Capital has raised $450 Million. The firm was also seed investors in Apple and Airbnb, early-stage investors in DoorDash, Square, and Whatsapp. In addition, the firm has been a growth investor in Instagram. The funding also featured investments from firms like Softbank Vision Fund 2, Galaxy Digital, amongst others.
In contrast, the metrics of Polygon’s network have been challenging bigger rivals in the business. While Polygon has scripted about 360k daily active addresses on a 30-day average. Avalanche has recorded 95k, while Solana has scripted 219k. Successively, the daily transactions on Avalanche on a 30-day average is at 889k, in comparison to Polygons 3.3 M.
Successively, the network has been taking giant strides on numerous fronts, the total number of Polygon users on OpenSea has surpassed the count of 1 M. In addition, the TVL on the network has been soaring ahead at a brisk pace, on a daily basis. The previous day, the network had experienced about a double in a day, which has awestruck the fraternity.
Summing up, the makers hold the vision of the Polygon network is an infrastructure of the Metaverse. And the network has been sailing towards its end goal. Successively, the network has been taking giant leaps towards Web 3.0, with a number of projects and initiatives in play.
As previously mentioned, the protocol has been sprawling at numerous fronts. The network has witnessed dapps growing at an astounding pace, from 3000 to 7000 in just a couple of months. The initiative with ZK-Rollups, milestone setting users on OpenSea, among other factors will eventually fuel Polygon’s run to the top-10 league, and to a new ATH in the fast-approaching future.
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