- The average gas price of zkEVM fell while daily gas consumption increased significantly.
- MATIC’s market cap dropped drastically, pushing it off the list of the top 10 cryptos.
Polygons [MATIC] zkEVM witnessed a significant boost in key metrics, reflecting the increased usage and adoption of the rollup. The growth was such that several metrics reached new all-time highs. zkEVM’s competitor zkSync Era also showed commendable performance. However, as zkEVM slowly approaches zySync’s performance, will the former soon overtake the latter?
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Polygon zkEVM creates a new record
Days after marking a new all-time high, zkEVM quickly broke his own record. Daily transactions reached a new ATH of over 70,000 on June 13, 2023.
zkEVM also witnessed a surge in the number of unique addresses. These statistics suggested that adoption and use of the roll-up was increasing.
Source: Polygon scan
A possible reason for the increase in the number of transactions could be found in another measure. From Polygon scanzkEVM’s average gas price registered a decrease.
Lower gas rates could have helped lure in new users. It must also have encouraged existing users to make more trades on the roll-up. This possibility was further supported by an increase in daily gas consumption, indicating an increased use of zkEVM.
Source: Polygon scan
zkSync vs zkEVM
ZkEVM’s biggest competitor, zkSync era, also performed admirably in recent months as key metrics remained high. However, by comparison, zkSync’s growth rate seemed to have stopped when the charts went flat.
Source: Artemis
From Artemis, although zkEVM’s daily active addresses increased, it was still far behind that of zkSync. zkEVM’s figure stood at nearly 8,000, while its colleague had more than 190,000 addresses.
The same trend was seen on the daily trades chart, where the difference was over 100,000. However, given zkEVM’s growth rate, it will be interesting to see if it can surpass zkSync in the coming months.
Read Polygons [MATIC] Price prediction 2023-24
MATIC lost its place
While zkEVM set new records, MATIC slowly slipped down the list of the top 10 cryptos by market cap. According to CoinMarketCapthe price of MATIC is down more than 5% in the last 24 hours alone.
At the time of writing, MATIC was trading at $0.5895 with a market cap of over $5.4 billion, making it the 12th largest cryptocurrency.