The Polygon network reached a new milestone this week on the NFT OpenSea marketplace. Dune Analytics released data showing positive activity on the network. Here’s what these numbers reveal about Polygon’s NFT space.
More users and transactions with Polygon on OpenSea
The activity of the Polygon network has evolved a lot lately on the NFT OpenSea marketplace. It has grown in terms of number of users and volume of transactions. Indeed, data from Dune Analytics has made state of one increase to 1.6 million in the number of users from Polygon on OpenSea. They also show significant weekly volume growth in Polygon’s marketplaces. This volume has reached considerable values in recent months.
Also, the Polygon network generated more revenue on the OpenSea marketplace. This is the result of an increase in NFT trading volume and interest in non-fungible tokens.
The network’s TVL has increased significantly, reaching a peak. In fact, it jumped from $988 million to $1.22 billion in one month. This caused a 30% increase in revenue obtained thanks to Polygon on OpenSea.
What could Polygon owe its success to?
Polygon’s success in recent months can be explained by the many partnerships he has signed so far. It must be said that the network did not bow down to the bear market. He braved the volatility that was observed in 2022, to establish multiple collaborations with different companies and companies.
Moreover, with 1.6 million users on Polygon OpenSea, it is clear that investors believe in the potential of the network. This number testifies to a growing interest in the platform. At the same time, the data suggests that Polygon plays an important role in the NFT market. The latter are becoming more and more popular, attracting thousands of investors.
It seems investors are only really showing growing interest in Polygon’s NFT space. Indeed, growth on the network itself has been declining lately. The data shows a clear decrease in the number of transactions, and therefore in activity. The network’s native token, MATIC, was not used extensively to transact. Additionally, whales have shown low interest in Polygon. It appears that the crypto community has a negative view of this network lately.
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