• Polygon zkEVM’s Total Value Locked (TVL) has increased by 9.5x over the past month, reaching a record high of $23.31 million.
• The network received an upgrade to its Mainnet Beta, which could attract more users in the days to come.
• The number of depositors on Polygon zkEVM nearly doubled over the past month with the record daily transaction volume reaching 30,000 on 4 June.
Polygon zkEVM’s TVL Growth
The total value locked (TVL) on Polygon [MATIC] zkEVM has grown significantly over the past month, mushrooming to a record high of $23.31 million at the time of publication. This marks a 9.5x growth from the previous month and was driven by an AirDrop hint dropped by co-founder Sandeep Nailwal and an update to its Mainnet Beta that improves user experience for facilitating transactions.
Increase in Number of Depositors
The number of depositors on Polygon zkEVM almost doubled over the past month as users bridge their assets from Ethereum [ETH] chain L1 to Polygon zkEVM for faster speeds and lower transaction fees. This increase in usage is further evidenced by a record-high daily transaction volume of 30,000 recorded on 4 June according to data from zkevm.polygonscan.com .
Adoption & Usability
The update to the Mainnet Beta aims to iron out deficiencies in the previous version and improve overall user experience while facilitating transactions – this will likely attract more users in days to come and drive up adoption rate for Polygon’s [MATIC] zkEVM scaling solution L2 even further than it already has been throughout May 2021 and June 2021 so far..
Comparing With Other Blockchains
Despite recording impressive achievements, Polygon’s TVL still lagged behind that of other blockchains such as ZKsync Era according to DeFiLlama data – however, it is worth noting that these figures are subject to fluctuation due changes in user behaviour and technology improvements within each blockchain platform individually..
Conclusion
In conclusion, it is clear that despite not being completely ahead of other blockchain platforms yet regarding its TVL figures, Polygon [MATIC]zkEVMs activity has seen significant growth which could be attributed directly or indirectly to recent updates and hints dropped by co-founder Sandeep Nailwal about potential upcoming Airdrops – this indicates that continuous development efforts have had positive effects on users‘ engagement with this particular scaling solution L2 so far..