Polygon became the most widely used blockchain in 2023

According to the most recent statistics provided by Ryan Wyatt, president at PolygonLabs, Polygon has quickly become the most widely used blockchain in 2023. 

While Wyatt was disseminating the information, he said that the Polygon team is working on long-term protocol plans to give every developer in their community more autonomy. 

According to the statistics, the Ethereum blockchain has been dethroned by Polygon, which is notable since Ethereum’s popularity, liquidity, and many active users all contributed to Ethereum’s rise to prominence in 2022.

The most recent information demonstrates that the tides have favoured Polygon. According to the graphic, Polygon’s popularity increased from 23% in 2022 to 41% in the first quarter of 2023. Because of this, some of the most well-known companies in the sector, such as Nike, Reddit, and Starbucks, have shown interest.

According to the statistics provided by NFT Tech, Immutable X is the second most popular shape after Polygon. Palm and a few other shapes come in third and fourth place, respectively.

In addition, Polygon has been seeing expansion and a surge in the transaction volume on Polygon zkEVM, which has reached record highs. 

https://fincryptotips.com/watch?v=Cfiite9VxnQ

According to the statistics, a week-over-week gain in total value locked (TVL) was 70% more than the previous week, making it the most extraordinary surge since its debut. As of press time, Polygon’s TVL stood at $977.97 million.

Polygon TVL chart | Source: DeFiLlama

Additionally, the record for the most significant successful transaction volume in a single day was set on May 14 at more than 13,000. While transaction costs on other blockchains, such as bitcoin’s, increased in the thick of the meme currency craze, Polygon’s fees decreased even during the most significant activity time. 

This is another noteworthy point to notice. In addition, the positive transaction data has increased the price of MATIC by 3.7% over the last twenty-four hours. At the time of publication, data from CoinMarketCap indicates that MATIC is trading at $0.8813.

Polygon became the most widely used blockchain in 2023 - 2
Polygon 1-day chart | Source: CoinMarketCap


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