Posted:
- This comes two weeks after Chainlink’s integration with Polygon zkEVM.
- Polygon zkEVM’s every day lively addresses jumped 51% during the last week.
L2 scaling resolution Polygon [MATIC] zkEVM noticed its decentralized alternate (DEX) volumes soar by almost 200% during the last month, reflecting elevated desire for tasks housed on the community.
In response to AMBCrypto’s evaluation of Artemis’ knowledge, trades value $2.89 million had been settled on the community on the twenty seventh of December, the very best because the peak of $3.76 million attained on 14th November.
In truth, during the last seven days, DEX volumes have averaged 1.84 million.
Supply: Artemis
Whereas these numbers paled compared to DEX exercise on different L2 chains, the sharp development grabbed the eye of trade watchers.
Chainlink’s integration the explanation?
These developments come on the heels of decentralized oracle community Chainlink’s [LINK] integration with the zero-knowledge scaling resolution.
As a part of the settlement, DeFi builders on Polygon zkEVM would have entry to Chainlink’s real-time worth feeds. This was anticipated to energy the event of decentralized exchanges, liquidity protocols, and different tasks on the chain.
As is well-known, Chainlink is an oracle community that feeds real-world knowledge to blockchain-based good contracts.
Whereas there is no such thing as a conclusive proof to hyperlink the present upsurge in DEX volumes to this improvement, the potential for the identical remained excessive.
Polygon zkEVM sees 51% bounce in customers
The explosion in Polygon’s DEX exercise brought on an uptick in on-chain exercise as effectively. The every day lively addresses jumped 51% during the last week, AMBCrypto detected utilizing Artemis’ knowledge.
Furthermore, every day transaction on community climbed 22% since final week. On the twenty sixth of December, greater than 31k transactions had been processed on the scaling resolution, highest in almost a month.
Supply: Artemis
In the meantime, Polygon ecosystem’s native token MATIC pulled again 2.32% within the final 24 hours, as some weak fingers determined to lock in beneficial properties, knowledge from CoinMarketCap confirmed.
Nonetheless, this wasn’t earlier than a superb interval in December throughout which the returns on the coin grew by 33%. As of this writing, MATIC was exchanging fingers at $1.01.
Learn MATIC’s Worth Prediction 2023-2024
Be aware that as a part of the upcoming Polygon 2.0 mission, MATIC could be upgraded to a extra versatile utility token POL.
In a current interview, Polygon Labs CEO Marc Boiron touched down on the motivation behind the improve.