Polygon Adds Support To This Trend Metaverse Coin!

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  • The metaverse cryptocurrency that has made its mark on the market recently ApeCoin (APE)migrated to the Polygon ecosystem with access to 19,000 dApps.

It’s a popular layer-2 scaling platform, according to the network’s statement on Twitter. Polygon (MATIC), now started to support ApeCoin (APE). As a result of this integration, the trend metaverse coin will be available for more than 19,000 decentralized applications (dApps) and games worldwide.

Yuga Labs, the company behind the “Bored Ape” NFT collection and ApeCoin, posted a Twitter post following the company’s historic NFT sale. in the update said:

“This minting exceeded the record for the largest NFT mint in history by several times, but the amount of gas used during the mint showed that it exceeded everyone’s wildest expectations regarding demand. The scale of this mint was so large that Etherscan collapsed. We apologize for turning off the lights on Ethereum for a while.”

The team even noted that since Ethereum cannot handle the sizable volume of purchases, ApeCoin may need to be migrated to its own chain in order to scale properly.

In an online sale of “Otherdeeds” NFTs that took place on April 30, approximately $285 million was raised in cryptocurrency. Only ApeCoins can be used to purchase “Otherdeeds”, and these NFTs can be exchanged for virtual pieces of land in the Bored Ape-themed Metaverse, later called “Otherside”.

Otherdeeds were worth 305 ApeCoins for NFT and they were all sold out, as the platform reported in a tweet. But 24 hours after the historic NFT mint, Apecoin (APE), the metaverse token backing the Bored Ape Yacht Club-inspired DAO, has plummeted.

APE, which collapsed after major rallies, is trading at $14.04, down about 4 percent from the last 24 hours, according to CoinMarketCap data.

Polygon announces milestone

According to Alchemy statistics, Polygon has recently reached a new milestone in adoption with more than 19,000 decentralized applications (dApps) running on its network, with 500 percent growth from 3,000 dApps in October.

Based on the Tier-2 scaling platform, PoS currently has over 8,000 monthly active teams, a huge improvement over the platform’s 6,000 teams in January and a thousand teams in October. Polygon also claims that its PoS has processed a total of more than 3.4 billion transactions, with over 135 million unique user addresses and more than $5 billion in assets protected.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


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