Blockchain network Polygon (MATIC), which focuses on Ethereum scalability, has reached an important milestone today. For the first time in its history, the altcoin project has surpassed the Ethereum Blockchain in the number of daily active addresses. Mihailo Bjelic, co-founder of the project, shared his excitement on Twitter:

Another big milestone for Polygon! For the first time, we outshine Ethereum L1 in daily active addresses! This is just the beginning. We work day and night to improve our technology, strengthen our ecosystem and increase adoption. Let’s bring the world to Ethereum!

https://twitter. com/MihailoBjelic/status/1443041767725674499

Remember that Ethereum’s biggest competitor is Polygon!

Polygon Blockchain is a protocol designed to interconnect Ethereum-based altcoin projects. In this way, it provides a solution to the scalability of Ethereum, the L1 Blockchain, while building a multi-chain Ethereum ecosystem. You can view the image of Mihailo Bjelic’s tweet above here. It compares the daily active addresses of Ethereum and Polygon.

Beside the last milestone, Polygon Blockchain was on the agenda with great developments this year. It has also been adopted and funded by institutional investors for the past few months. Meanwhile, Dogecoin supporter Mark Cuban announced earlier this year that he has made a major investment in altcoin project Polygon.

How the performance of the network affected the price of altcoin MATIC

MATIC, the native token of Polygon Blockchain, was among the altcoins that rallied in the first half of 2021, when the overall market reached its peak prices. MATIC price rose as high as $2.50 during this period. After the May collapse, the price declined to 300%. However, while MATIC is slowly recovering, it reduces its difference to 50% with its ATH level. It is currently trading at $1.11 and has a market cap of $7.3 billion. Despite its current price, it has kept its earnings at around 5900% since the beginning of 2021.

It should be known that Polygon Blockchain is also preferred by financial players and accounting firms. Earlier this month, London-based worldwide service Ernst and Young announced that it has integrated its products into the Polygon Blockchain network. The firm linked the Polygon protocol to EY OpsChain and EY Blockchain Analyzer. This integration allows customers to establish more connections by gaining access to the Polygon Blockchain. Finally, Polygon had a positive reaction in the $1.05 region as it had heavy saadollarser. He is currently holding over 2% of his earnings for the last 24 hours. During this period, the market was quite stagnant, with Bitcoin (BTC) and Ethereum (ETH) rising below 1%, Binance Coin (BNB) 8%. 96% padollama and Cosmos (ATOM) 3%. It recorded 22 decreases.

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Michael Lewis


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