TL;DR
- Polygon processed over $100 million in micropayments in June and surpassed 50% market share, outperforming Ethereum and all different networks.
- The community deserted its zkEVM undertaking to focus assets on its PoS chain and Agglayer, aiming to hurry up funds and tokenized asset settlements.
- Polygon’s token, POL, rose 10% in the previous week, pushed by elevated transaction quantity and technical enhancements, presently buying and selling at $0.2683.
Polygon closed June with its greatest efficiency but in crypto micropayments. The community handled greater than $100 million in transactions between $0.50 and $100 in the course of the month, making it the clear chief in this section.
With that quantity, it outpaced Ethereum and all main Layer 1 and Layer 2 networks mixed, reaching over 50% market share. Transactions between $100 and $1,000 additionally noticed sturdy development, growing 37% month-over-month, with POL capturing 42% of that bracket.
This development outcomes from a strategic shift. Polygon moved away from being only a scaling various to changing into a funds infrastructure targeted on sensible options. The choice to drop the zkEVM initiative and focus on its PoS chain and Agglayer was key. The corporate goals to enhance stablecoin utilization and facilitate quicker, extra steady tokenized asset settlements.
Causes Behind Polygon’s Success
A part of this new section aligns with Sandeep Nailwal’s return as hands-on operational chief. Below his steering, the crew launched the Agglayer v0.3 improve, including the “execution proof” function that enables completely different chains to combine with out altering their authentic structure. Moreover, a consensus exhausting fork named Heimdall 2.0 is upcoming, promising quicker affirmation occasions and improved total community stability.
Technical progress and sustained transaction development additionally replicate in its token efficiency. During the last seven days, POL’s worth rose practically 10%, supported by elevated transaction demand and infrastructure enhancements. It presently trades at $0.2683 per unit.
Whereas different platforms proceed pushing blockchain adoption, Polygon already maintains important actual transaction quantity.
