Polygon (POL) Releases Key Data with a Twist

Polygon Discloses Crucial Performance Data

Ethereum Layer-2 scaling solution Polygon (POL) has recently shared essential performance metrics in a post on X. According to the data, Polygon has experienced substantial growth this year in liquidity, Proof-of-Stake (PoS) metrics, and the AggLayer. Polygon’s architecture supports high transaction throughput with reduced latency, making it a key player in the blockchain space.

Processed Transactions and Key On-Chain Data on Polygon

Polygon’s post highlights significant on-chain data:

• PoS Transaction Volume: Since January 2024, Polygon’s PoS has processed $214 billion in Decentralized Exchange (DEX) volume. This robust performance provides a solid foundation for new and existing blockchain projects built on Ethereum (ETH).
• Asset Inflows: Polygon reported that $102 billion worth of assets have been added to the PoS via Centralized Exchanges (CEXes), resulting in over 679 million deposits on the platform this year. This immense liquidity benefits other chains integrated into the network.
• Total Value Locked (TVL): Polygon’s Total Value Locked has surged to $942.5 million, up from less than $1 million in 2021, according to data from DefiLlama. This increase indicates growing user participation and trust in the protocol.

Polygon Adoption by Mainstream Firms Entering Web3

Polygon has seen growing adoption from traditional companies entering the Web3 ecosystem:

• Web3 Adoption: Polygon’s PoS was the first chain to handle RIP 7212, with rapid adoption by core developers.
• Mainstream Projects: Major firms like Reddit, Mastercard, and Starbucks have integrated Polygon into their operations. Reddit users have minted over 11 million collectible avatars on Polygon, while Mastercard and Starbucks have implemented Web3 initiatives on the platform.
• Financial Innovation: Italy’s Cassa Depositi e Prestiti (CDP), supported by Intesa Sanpaolo, has launched a €25 million digital bond on the Polygon blockchain, marking a significant milestone in blockchain-based financial assets in Europe.

The MATIC and POL Outlook

The outlook for Polygon’s native tokens shows a notable shift:

• MATIC Performance: MATIC, the former native token, has shown a downtrend since the beginning of the year, with decreases of 5.8%, 10.2%, and 29% in weekly, monthly, and yearly time frames, respectively. This trend contrasts with the positive network statistics.
• POL Transition: MATIC has officially transitioned to POL tokens, making POL the native gas token for Polygon PoS. POL introduces a 2% annual emissions model aimed at issuing 1 billion POL tokens over ten years to fund community grants.
• Recent POL Performance: Within the last 24 hours, POL’s price has increased by 2.2% to $0.3837. Analysts and investors anticipate that this upgrade will enhance the token’s utility and potentially drive its price up further.

Conclusion

Polygon’s recent performance data and mainstream adoption highlight its growing influence in the blockchain and Web3 ecosystems. While MATIC experiences a downtrend, the transition to POL and its recent price increase suggest promising developments for the network’s future.