Polygon zkEVM Hits 1 Million Transaction Mark as TVL Keeps Climbing

  • Polygon zkEVM reached a huge milestone in terms of transactions.
  • Polygon co-founder Sandeep Nailwal likened Polygon zkEVM’s growth to a “hockey stick growth.”
  • TVL on Polygon zkEVM also keeps rising.

Polygon, together with other crypto projects, has had a rough two years in the crypto bear market. However, things seem to be improving for Polygon, especially what relates to its newly-launched zkEVM.

On Wednesday, Polygon zkEVM reached a record in transactions done on the network.

Polygon zkEVM Hirts 1 Million Transaction Mark

Polygon zkEVM continues its stellar growth over the past few months. Launched in March, Polygon zkEVM has just hit a huge milestone.

On Wednesday, the total number of transactions on Polygon zkEVM hit 1 million, according to data from the Polygon zkEVM scan. It hasn’t been a full day after that and the number is already at 1.4 million.

Sandeep Nailwal, Polygon co-founder, likened the exponential growth of transactions of Polygon to a “hockey stick growth.”

Polygon zkEVM Airdrop Rumors Intensify

Interestingly, Nailwal might be the sole reason Polygon zkEVM is experiencing such massive growth right now. That’s because Nailwal sent two crypto tweets in the past month aiming at a potential airdrop for Polygon zkEVM users.

First, Nailwal responded to a tweet criticizing low activity on Polygon zkEVM due to non-existent incentives. He said that “there is no rule that an existing token can’t do a massive airdrop.”

Immediately after that tweet total value locked (TVL) on Polygon zkEVM started growing exponentially. Currently, Polygon zkEVM’s TVL stands at $34.38 million, according to data from L2Beat.

A few weeks after the initial tweet, Nailwal retweeted a tweet that pointed to Polygon zkEVM’s growing TVL and asked a rhetorical question at the end: “Airdrop incoming?”

Since then, Polygon zkEVM has become the 11th largest Ethereum layer 2 in terms of TVL. Arbitrum, Optimism, and zkSync Era are at the top of the list.

On the Flipside

  • Polygon zkEVM’s growth is most likely due to airdrop rumors. That usually happens is that after the airdrop activity goes down substantially.

Why This Matters

Polygon zkEVM is one of the most promising Ethereum scaling solutions. It’s encouraging to see people recognize that and use the network.

Read more about Polygon 2.0:

How Polygon 2.0 Transforms Ethereum with Its New Value Layer

Read more about MATIC being labaled as a security:

Polygon (MATIC) Fails to Rebound After Being Labeled Security by SEC

Source link: https://dailycoin.com/polygon-zkevm-hits-1-million-transaction-mark-as-tvl-keeps-climbing/




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