The Polygon $MATIC Token was Up 120% in May 2021 and Now 20x in Daily Active Users Since January 2021

Despite the massive cryto market crash of May 2021, a few cryptocurrencies and networks seem to have withstood that drop and one of these is Ethereum Layer 2 Scaling solution, Polygon, and the platform’s token, $MATIC.

At a time when almost every major crypto suffered losses, with Bitcoin dropping as much as 35%, MATIC was able to withstand the downdraft and gain 120% while pushing its rankings up to the top 20 cryptos by market capitalization.


SEE ALSOPopular Ethereum Layer 2 Solution, Polygon, Sees More than 75,000 Active User Wallets and $900M in Just One Week


Below are some stats on Polygon in May 2021 combined with a few facts that have contributed to this massive growth:

  • Ethereum fees have skyrocketed up 845% throughout 2021 so far
  • Currently, a transaction on Ethereum for $200 costs roughly $5 while on Polygon it only costs around $0.001
  • The price of MATIC has gone up roughly 18, 500% so far since January 2021
  • In May 2021, the price of MATIC rallied 120% even as Bitcoin fell by 35%
  • The number of Daily Active Addresses on the Polygon network is up almost 20x since January 2021
  • In May 2021, Polygon user base surged by 285% – up from 7, 500 to over 28, 870 users
  • In May 2021, Polygon’s leading DEX, QuickSwap, saw a 302% increase in daily unique users to over 10, 000
  • In May 2021, QuickSwap liquidity on Polygon increased by 68% to over $924 million
  • In May 2021, unique addresses using Aave protocol on Polygon shot up by 156% to over 15, 700 users
  • In May 2021, Aave saw over $5 billion in liquidity via Polygon
  • The development activity in Polygon GitHub repository is very high both in terms of growing Commits as well as Open Issues and Stars, showing a healthy ecosystem

Speaking about the longevity of Polygon despite the much-hyped Ethereum 2.0 upgrade, and the subsequent deployment of sharding on the network, which is expected to bring down fees, Sandeep Nailwal, CEO, Polygon, said:

“Ethereum 2.0 will become 64 times more scalable than Ethereum is now, but the demand is 1,000 times than where we are. You will need L2 scalability.”

                               – CEO, Polygon


About Polygon

Polygon can be best described as a Layer 2 protocol and framework to build Ethereum-compatible blockchain networks.

It has been developed to increase transaction output and drastically reduce fees, without compromising on security.


RECOMMENDED READING: Layer 2 Solution, Arbitrum, is Coming to UniSwap v3, Confirms UniSwap CEO


Follow us on Twitter for latest posts and updates

Join and interact with our Telegram community


Subscribe to the channel below to keep updated on latest news on video:


Open a Bizlato Bitcoin Trading Account to get started!