The cryptocurrency space has seen significant growth over the past 30 days, with many networks experiencing a rise in new addresses. Leading the pack is the Polygon ecosystem, with impressive gains seen across other platforms like Wrapped Ether (WETH), LayerZero on Optimism and Arbitrum, and USD Coin (USDC) on multiple blockchains.
Polygon Ecosystem Achieves Over 1,000% Growth
According to a recent report from Santiment, the Polygon ecosystem saw an extraordinary 1,019% increase in new addresses. This surge places Polygon at the forefront of network expansion, demonstrating its growing popularity.
Polygon’s scalability and low transaction costs have made it an attractive platform for developers and users alike, particularly for decentralized applications (dApps) and token swaps. As a result, Polygon continues to attract more users, solidifying its position in the crypto ecosystem.
Wrapped Ether and LayerZero See Substantial Gains
Following Polygon, Wrapped Ether (WETH) on Polygon has seen a 263% increase in new addresses. WETH allows users to trade Ether on the Polygon network, making it a vital tool in decentralized finance (DeFi) operations.
Meanwhile, LayerZero, a protocol designed for cross-chain interoperability, also saw impressive growth. On Optimism, LayerZero grew by 254%, and on Arbitrum, it witnessed a 219% rise in new addresses. This growth highlights the expanding interest in Layer 2 solutions that offer improved scalability and lower fees.
Stablecoins USDC and Tether Experience Growth
Stablecoins like USD Coin (USDC) and Tether (USDT) have also experienced substantial growth across multiple platforms. USDC on Polygon grew by 171%, while on Arbitrum, it increased by 125%. Similarly, USDT saw a 119% increase on Arbitrum. These stablecoins are becoming more popular for liquidity and trading on Layer 2 networks, driven by the rise of DeFi protocols.
DeFi Tokens Continue to Show Strength
Other notable tokens like CAKE of PancakeSwap and FRAX on Polygon also saw significant gains. CAKE rose by 150%, while FRAX on Polygon increased by 129%. These numbers reflect the ongoing expansion and engagement within the decentralized finance sector across multiple protocols.
