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Polygon (MATIC) Squashes New Milestone in User Activity as 2022 Closes

Mon, 12/26/2022 - 15:18
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Tomiwabold Olajide
Polygon saw significant collaborations this year
Polygon (MATIC) Squashes New Milestone in User Activity as 2022 Closes
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Layer 2 scaling solution Polygon squashed a new milestone in user activity as 2022 wrapped up. Despite the bearish market conditions recorded in the year, Polygon has surpassed the 200 million mark in total unique addresses, according to Polygonscan.

The total number of distinct addresses was 202,407,626 as of Dec. 25, according to Polygonscan, with a daily increase of 599,702.

Although 2022 was a difficult year for cryptocurrencies, marked by industry failures and falling prices, Polygon saw significant collaborations this year. This helped boost its unique addresses, which increased by as much as 54% in the year 2022.

Reddit's August launch of digital collectibles powered by Polygon was a hugely popular adoption event. Reddit users have created almost five million collectible avatars thus far.

In May, Meta — formerly Facebook — began testing a digital collectibles feature on Instagram, allowing chosen U.S. creators to post NFTs that they created or purchased.

Polygon Reveals Massive Year for DeFi in 2023 and Beyond: Details

In November, the business announced that all Instagram users would soon be able to mint, showcase, and sell digital collections powered by NFTs on Polygon, providing creators with a new method to communicate with and monetize their fan networks.

Robinhood chose Polygon as the network of choice for its launch of Web3 wallet beta in September. This would enable Robinhood Wallet users to swap tokens, get rewards and connect to decentralized apps (dApps) after downloading the beta version of the program, all while incurring no network fees.

Starbucks has announced a collaboration with Polygon to create a Web3-based Indian e-commerce marketplace, Flipkart, as both enter into a strategic agreement to establish a blockchain-e-commerce center of excellence (COE).

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.