Polygon (MATIC) weekly stats show slight dip in average daily revenues

Karthik Subramanian

Polygon, the Layer 2 protocol on Ethereum, has been growing strongly since the beginning of the year, and overall it seems to have had a wonderful year and it would hope to retain the momentum next year as well through the numbers seem to be plateauing at the moment.

This is to be expected as we head towards the end of the year and it is the time when many users and traders just hang up their trading boots and wait for the holiday period to get over.

Price Continues to be Strong

The token price has been going strongly over the last couple of months and there does not seem to be any cause for concern for those who have been holding to the tokens in the hope of appreciation. The revenue numbers, though showing a slight dip compared to the previous week, continue to remain strong.

The dip in the revenue numbers is to be expected especially when the data has been showing that the network has been growing exponentially in the recent months and so it is quite likely that it will have some periods of lull. This is reflected in the fact that the average daily revenue over the past week for the network was $115,000 which shows a drop of around 4% while the daily average users continue to be high at 347,000 which shows an increase of 4% week on week.

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Dip in Bridge Inflow

This shows that the retail traders and investors continue to prefer the platform which is further exemplified by the fact that for the NFT ecosystem within Polygon, the average ticket size is just $355 while it is around $8600 in Ethereum which shows that the retail traders have been migrating to Polygon while the larger users seem to prefer Ethereum at this time and their transaction sizes are so large that the high gas fees in that network do not seem to matter any longer.

The bridge inflows into Polygon are a bit alarming though as it shows a drop of 78% when compared to the last week and there does not seem to be any logical explanation at this point of time, for this drop. We will have to wait and see whether this marks a long-term trend or whether this is only going to be a small blip in the graph for the Polygon network. As we head towards the end of the year, we can see an even further drop in volumes which may skew the data further.

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