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Polygon Surpasses Ethereum in Daily Active Addresses, but Faces Challenges in DeFi Space and MATIC Price Correction

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Polygon outperformed Ethereum in terms of daily active addresses, with 399,950 users compared to Ethereum's 376,350. The surge in activity on Polygon can be attributed to several factors, including the performance of its dApps and the migration of y00ts NFT.

However, Polygon faced challenges in the DeFi space, particularly in its DEX volume, which saw a significant decline, impacting the total value locked (TVL) on the network. Additionally, the overall transaction count on the network declined, and the price of its native token, MATIC, also dropped.

Ethereum Ethereum $1,845.66
+1.84%
Polygon Ethereum NFT
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