Polygon-based transactions are starting to compete with Ethereum

ribbed [MATIC] Extremists have done well after a series of new developments recently on the network. Cryptographic reporter Lark Davis confirmed MATIC has exceeded two billion lifetime transactions.

This is a big announcement for Polygon which has been one of the best performing benchmarking solutions in Ethereum [ETH]. But that’s not all as polygon-based transactions are starting to outperform Ethereum as well.

Source: Polygon Daily / Twitter

Since the creation of Polygon, Ethereum has managed to complete more than 1.5 billion transactions compared to Polygon’s last achievement.

This gives Polygon an edge over Ethereum which is expected to increase scalability after the release of Merge.

However, Polygon has outperformed Ethereum this quarter. The scaling solution handled twice the average number of transactions compared to Ethereum this quarter according to daily polygon.

Source: Polygonscan.com

Also, according to Polygon News’ Twitter account, Polygon Daily, the network has reached a new network teacher for polygon-based NFTs. According to this tweet, NFT sales volume reached an all-time high on Polygon of $100M in August.

This is the first time that Polygon has managed to break the $50 million resistance since its previous high in February 2022. Recently, the largest NFT exchange, OpenSea, Enabled Users have to list and buy with native tokens on Polygon.

Source: Polygon Daily

What’s new here?

However, Polygon Senken added to his ranks in one message It was conducted on September 5th. The Basin is a series of carbon credits that allow users to buy, exchange, and withdraw tokenized carbon credits.

They are created by on-chain carbon infrastructure and services built on Polygon.

Where is Matic headed?

After losing $1 in August, MATIC is trading at $0.89 at press time. According to CoinMarketCap, the governance token Polygon is up more than 2% in the past day, adding to its 5.2% gain in the past week.

This puts Polygon in a strong position to benefit from the consolidation as the increased scalability of Ethereum will also benefit Polygon.

But the emergence of second level scaling solutions such as Arbitrum and Optimism will pose a major threat to the growth of Polygon. It is widely believed that we are approaching an L2 season which will be led by these two protocols.

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