Polygon Active Addresses Claim New ATH Of 450k

Lavina Daryanani
Source: The VR Soldier

The IRL use cases of Polygon have been on the rise. Just a day back, Polygon co-founder Sandeep Nailwal announced via a Twitter thread that the Polygon blockchain is now being used by Firozabad police in the Indian state of Uttar Pradesh to fight against local corruption and crime. He tweeted,

With an FIR (first information report) going on blockchain, specifically if people can get online platform to file these with their identity, no lower level officers can deny the FIR. This could be a game-changer in ensuring right to justice.”

In fact, in another development that took place on 12 October, Chainlink wrapped up integration across Polygon, emphasizing on the adoption narrative.

Polygon active addresses attain new high

On the on-chain front also, Polygon has been posing improvements. As illustrated below, the daily activity addresses hit an all-time high of 449.67k on October 12, 2022. The previous high of 425.24k was clinched around 11 months back, on November 23, 2021.

Source: Twitter

MATIC fundamental analyst highlighted in a thread last week that Polygon has been steadily increasing its active user base. In fact, in 9 out of the last 12 weeks—he highlighted—Polygon has increased its users. And from five weeks ago, its growth has accelerated. Chalking out the same, he tweeted:

  • Week 39: +42.5%
  • Week 38: +8.2%
  • Week 37: +7.5%
  • Week 36: -5.3%
  • Week 35: +12%

In fact, when compared to other chains also, the network’s growth has been the most impressive. The analyst highlighted that in terms of weekly active addresses, Polygon is already 75% of the size of Ethereum.

In fact, when compared to the likes of Avalanche, Solana, Near, and other protocols also, Polygon has been able to put up a better show.

Testnet address activity

Alongside the address activity on the mainnet, the testnet activity also seems to be refined on the macro front. As illustrated below, the active addresses and the number of transactions continue to hover around levels significantly higher than in August.

Source: gokustats.xyz

Testnet activity is more often than not used as a proxy for developer engagement. Resultantly, the current state of the aforementioned metrics only re-emphasizes that the fundamentals of Polygon remain to be strong, despite the choppy market conditions.