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Polygon network activity spikes as NFT sales reach new height

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The variety of nonfungible tokens (NFT’s) bought on the layer-two protocol Polygon reached an all-time excessive final month at simply in need of 2 million. 

In line with Dune Analytics, this marks a close to 60% rise compared to November and the third consecutive month-to-month enhance for the community.

An Ethereum-based scaling answer in search of to assemble, distribute and handle securities on blockchain expertise, Polygon’s ecosystem has grown exponentially over the previous twelve months, registering in extra of three,000 decentralized purposes on its community, along with a complete worth locked determine of $3.86 billion.

Alongside this, the variety of distinctive each day lively proof-of-stake chain addresses on the community can be anticipating a brand new all-time excessive, aiming to surpass the document of 566,516 printed on Oct. 2, 2021, with the latest data from Jan. 5, 2022, calculating 554,163.

Associated: Here’s how Polygon is challenging the limitations of Ethereum, as told by co-founder Sandeep Nailwal

In an interview with Cointelegraph final month, co-founder Sandeep Nailwal revealed that Polygon has discovered a distinct segment in attracting a high proportion of gaming companies and platforms to construct NFT’s on their community, versus the collectibles and artwork typically witnessed on Ethereum.

Polygon’s native token, MATIC, reached a peak value of $2.92 on Dec. 27, 2021, and has subsequently fallen to $2.11 on the time of writing consistent with a wider market decline.