Journalist
Posted:
- The average gas price of zkEVM started to fall after an increase on December 16.
- MATIC rose over 18% and social sentiments turned bullish.
Polygon [MATIC] zkEVM has come a long way since its launch this year. To that extent, Sandeep Nailwal, the co-founder of Polygon, took to X (formerly Twitter) to highlight one of the latest achievements of the zk rollup.
According to Nailwal’s tweet, four of the top 15 TVL and adoption roll-ups are built using the Polygon zk-tech stack. This indicated the tremendous adoption and capabilities of Polygon’s zk Stack.
Of the top four, Immutable, Manta Network, and Polygon zkEVM were in the top three. These rollups had a TVL of $212 million, $228 million and $119 million, respectively.
Of the top 15 roll-ups according to TVL and adoption, 4 are built using the Polygon zk-tech stack.
Admittedly, it’s all still quite small, <600 minutes in total, but it looks exciting in terms of direction.@Unchangeable – $212 million@MantaNetwork – $228 million@0xPolygon zkEVM – $119 million… pic.twitter.com/6iYwrXYj9X
—Sandeep Nailwal | sand deep. polygon 💜 (@sandeepnailwal) December 25, 2023
Since zkEVM reached the top three, AMBCrypto has taken a look at the overall health of the rollup. Our analysis of Artemis’ facts revealed that zkEVM’s TVL has continuously increased over the past three months.
For the uninitiated, the higher the TVL of a project, the safer and more valuable it is perceived to be.
However, despite the package’s robust performance in the DeFi space, network usage appeared to have declined in recent months. This was clearly evident from the fact that the number of daily active addresses decreased.
Source: Artemis
A similar downward trend was also noted in terms of daily transactions.
A look at Polygonscan facts also revealed that after the peak on December 16, Polygon zkEVM’s average gas price began to decline, which could attract new users to the network in the coming weeks.
Source: Polygon scan
MATIC pumps!
In the middle of this, Polygon’s own token MATIC‘s price gained bullish momentum when both the daily and weekly charts turned green. CoinMarketCaps facts revealed that MATIC’s value has increased by more than 18% in the last 24 hours alone.
At the time of writing, MATIC was trading at $1.05 with a market cap of over $10 billion.
Read Polygon [MATIC] Price prediction 2023-24
Thanks to the price increase, MATIC’s social volume has increased significantly. Positive sentiment surrounding the token was also dominant in the market, as evidenced by the spike in weighted sentiment.
Polygon’s Binance Funding Rate has also increased in the recent past, indicating that derivatives investors were buying MATIC at a higher price at the time of writing.
Source: Santiment