Polygon has reached a similar level to Ethereum in terms of the number of new users.

Polygon has reached a similar level to Ethereum in terms of the number of new users.

user avatar

by Max Nevskyi

3 years ago


In 2023, the Polygon project registered 15.24 million new accounts, approaching the number of Ethereum accounts, of which there were 15.4 million. This information was presented in a report from Flipside.

Several interesting facts were discovered in this report:

Polygon attracted almost as many new users in 2023 as Ethereum.

Users with a large number of transactions (100 or more) bought more NFTs than they sold.

85% of wallets made transactions on only one blockchain network, but this percentage was lower than in previous years.

Polygon outperformed Ethereum in attracting new users in the first half of last year, but subsequently reduced its growth rate.

The researchers noted that Polygon started the year with an impressive 2.8 million new users in January, representing more than 40% of the total number of network users in 2023.

The bitcoin blockchain took third place with 10.65 million new accounts. Solana and Arbitrum rounded out the top five.

The total number of users involved in the eight protocols studied was 62 million.

Analysts note that growth began in March, which coincided with the collapse of Silicon Valley Bank, which may have increased interest in decentralized alternatives and reduced confidence in centralized organizations.

It should also be noted that the Base L2 solution project was launched only in August 2023, but has already shown significant results, attracting 1.94 million new accounts. Flipside expects further growth in the number of users in this project this year.

The company's data also shows that 85% of wallets interacted with only one blockchain network. In addition, "super users" with more than 100 transactions bought more NFTs than they sold.

Recall that on November 16, POLS tokens inspired by Ordinals were launched on Polygon, and in this regard, commissions on the network increased by 1000%. Later, the Polygon Labs team introduced the AggLayer solution, an aggregation layer that aims to connect blockchains based on zero-knowledge evidence.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Solana Validators Vote on Governance Proposal SGP0003

chest

Validators on the Solana network are voting on governance proposal SGP0003, which aims to restructure the fee model and potentially increase daily SOL burns.

user avatarDiego Alvarez

Trump's New Memo Aims to Revolutionize US Space Launches

chest

US President Donald Trump signed a memo aimed at increasing the number of commercial space launches to at least 1,000 annually by 2030.

user avatarGustavo Mendoza

Space Stocks Decline as Market Reacts to Trump's Memo

chest

Space stocks, including SpaceX and AST SpaceMobile, declined by 3% as the market reacted to Trump's memo on increasing US commercial space launches.

user avatarKenji Takahashi

Rocket Lab's Shares Surge Amid Market Challenges

chest

Rocket Lab is experiencing a surge in its stock performance, tracking its best monthly results since May, following a key preflight testing milestone for its reusable fairing.

user avatarMaria Fernandez

New Report Released Using Primary Source Materials.

chest

The report is based on information released in disclosures at primary source documentation, aiming to provide accurate and reliable information to the audience.

user avatarRajesh Kumar

Micron Stock Predictions for 2030 Show Wide Range

chest

Analysts predict Micron's stock could range from $260 to over $2,000 by 2030, with an average target of $1,568.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.