Polygon (MATIC) Surpasses Ethereum’s Daily Active Addresses for the First Time In History

By Bhushan Akolkar
Published September 29, 2021 Updated September 29, 2021
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Polygon (MATIC) Surpasses Ethereum’s Daily Active Addresses for the First Time In History

By Bhushan Akolkar
Published September 29, 2021 Updated September 29, 2021

Ethereum scalability solution and blockchain platform, Polygon (MATIC), has touched an important milestone today. For the first time in history, the total number of daily active addresses on Polygon has surpassed that on Ethereum. Polygon co-founder Mihailo Bjelic twitted earlier today:

Another huge milestone for @0xPolygon! We eclipsed Ethereum L1 in daily active addresses for the first time! This is just the beginning. We are working round the clock to improve our tech, strengthen our ecosystem and increase adoption. Let’s bring the world to Ethereum!

Courtesy: @Raphael

Note that Polygon is not a competitor to Ethereum. The Polygon blockchain is a protocol build to connect several Ethereum-compatible blockchains. Thus, it aims to deploy a scalable solution on Ethereum by creating a multi-chain Ethereum ecosystem.

Well, the Polygon blockchain network has undergone major developments this year. It has also seen major institutional fund inflows over the last few months. Blockchain tech billionaire Mark Cuban announced a major investment in the Polygon ecosystem earlier this year.

MATIC Price and Latest Developments

MATIC, the native cryptocurrency of the Polygon blockchain network saw a major rally during the crypto boom of the first half of 2021. The MATIC price surged all the way to $2.50 in mid-may during the altcoin market rally.

The MATIC price has corrected by more than 50% from its ATH. As of press time, MATIC is trading at $1.10 and has a market cap of $7.3 billion. Even at the current price, MATIC is trading at 5900% gains since the beginning of 2021.

The Polygon blockchain has been the choice of among some of the biggest financial players and accounting firms. Earlier this month, accounting giant Ernst and Young announced integrating the Polygon blockchain into their blockchain products.

The firm has connected Polygon protocol to the EY OpsChain and EY Blockchain Analyzer. This would allow EY clients to integrate Polygon into their business with a simple configuration.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan Akolkar
768 Articles
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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