The “large” transaction volume on the Ethereum (ETH) layer-2 (L2) scaling solution Polygon (MATIC) network has increased significantly in the last 1-month period.
While the cryptocurrency market maintains its upward momentum, the amount of money entering the market continues to increase. This increase can be observed visibly, especially in the transaction volumes of the market’s popular cryptocurrencies.
On-chain data platform IntoTheBlock quoted by information According to the latest transaction volume on the Polygon network 3,800% increase in 1 month exhibited. IntoTheBlock this data over $100,000 included transactions. With this huge transaction volume increase, the Polygon network Bitcoin (BTC) And Ethereum (ETH) He left behind by a wide margin.
The data platform included the following noteworthy statements in its post on the subject:
Institutional and whale demand has increased strongly, with Bitcoin seeing an 80% increase in transaction volume compared to 30 days ago, Ethereum seeing a 170% increase, and Polygon seeing an increase of over 3,800%.
MATIC price for the first time since July as a result of a large increase in trading volume $0.80He got on top of it. According to CoinGecko data, in the last month 45% rising MATIC $0.693 from level to $0.923 reached. MATIC during writing from $0.887 is being traded.