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Polygon Weekly Recap Week 45 (03/11 – 09/11)

Posted on by admin
11
Nov

A week of chaos but nothing affects Polygon. Let’s take a look at the highlights of this week.

KEY TAKEAWAYS

  • DeFi dApps on Polygon had an incredible week, with 17 of the Top 20 dApps closing significant gains.
  • Price Performance of Bitcoin Ethereum and Polygon in October 2022
  • How to Buy NFT on Polygon Using Mastercard
  • The Growth of the Number of Unique Addresses in October 2022
  • Meta to Let Users Mint and Sell Polygon Powered NFTs on Instagram

ECOSYSTEM UPDATES

Hola readers! J.P.Morgan and Singapore’s regulatory authority made their first live trade in DeFi which was #PoweredByPolygon; Franklin, a service that empowers businesses and organizations with blockchain-based payment instruments, launched its open beta version for testing on the Polygon; and Liminal, wallet operations infrastructure platform, announced support for Polygon’s blockchain.

Let’s dive in.

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Polygon On-Chain Data Highlights

Network Analysis

  • DeFi dApps on Polygon had an incredible week, with 17 of the Top 20 dApps closing significant gains. Best performing DeFi dApps by users were: Uniswap V3 (41k, +35%), Quickswap (25k, +28%), Stargate (22k, +146%), and Aave (21k, +282%). 
  • As per CoinGecko, Polygon’s average weekly market cap increased for the third consecutive week, reaching a whopping $9 Bn+ in the past week.

dApps Spotlight

Polygon Weekly Recap Week 45 (03/11 - 09/11) - 2

NFT Highlights

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Price Performance of Bitcoin Ethereum and Polygon in October 2022

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On-Chain Analysis

UTXO Realized Price Age Distribution (Actual time holding BTC) shows that investors over the last 2 years have an average purchase price of 40.9K while short-term investors from 1 week to 3 months have a purchase price in the range of 19.6K – 20.6K.

More details: here

The Macroeconomic Context

On November 2, the Fed continued to raise interest rates by 75 basis points to the range of 3.75% – 4%. 

This is the fourth time the Fed has raised 75 basis points, making it the fastest rate hike cycle in 35 years.

More details: here

How to Buy NFT on Polygon Using Mastercard

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More details: here

The Growth of the Number of Unique Addresses in October 2022

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Polygon’s number of unique addresses grew by 55% in October compared to Q3 and totaled 185M addresses.

An unbelievable number shows that Polygon is growing despite the crypto winter.

The end of this year is expected to continue to be a record quarter for Polygon.

 when there are more than 53K dApps and the number of unique addresses will soon surpass BNB Chain and Ethereum.

Meta to Let Users Mint and Sell Polygon Powered NFTs on Instagram

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Instagram users will soon be able to use the site to mint, showcase, and sell digital collections

Creators will soon be able to use digital collectibles to directly engage with their fans & monetize their creation on Instagram, the most popular social media platform with a community of ~1.4 billion users 👀

~50 million people worldwide recognize themselves as creators and now they need more than showcasing their creations.

Advertising 👉 Influencing 👉 Ownership

Polygon is proud to provide a robust infrastructure for Meta to launch this ground-breaking tool.

More details: here

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