In June 2023, the Polygon network recorded a significant volume of micropayments, contributing to the growth of its cryptocurrency, as reported by co-founder Sandeep Nailwal.
High Micropayment Volumes in June
According to data, $100 million in micropayments were processed by the Polygon network in June, marking the highest monthly figure. Sandeep Nailwal confirmed that Polygon holds 52% of the micropayment market, surpassing networks like Ethereum and Solana.
Impact on Polygon's Price
Following the release of payment data, analysts began speculating that the price of POL could reach the $1 mark. Despite no official projections, interest in the asset surged. At the time of publication, the price of POL stood at $0.2242.
Polygon Strengthens Its Layer-2 Position
The Polygon network continues to solidify its status as a leading Layer-2 network, offering low fees and high-speed transactions. Success in processing micropayments demonstrates growing popularity among users and platforms.
Overall, the successful June results and the launch of the Heimdall v2 upgrade indicate Polygon's readiness for further growth and increased transaction volumes.
