Polygon [MATIC] has reached a new milestone on the NFT market OpenSea. According to data from Dune Analytics, the number of Polygon OpenSea users exceeded 1.6 million. In addition, the weekly volume of Polygon markets has increased significantly over the past several months.
These increases in Polygon’s NFT volume can be linked to the company’s numerous collaborations over the past few years. Despite the volatility of the crypto market in 2022, Polygon teamed with various businesses.
Increased revenue
According to Defi Llama, Polygon’s TVL jumped from $988 million to $1.22 billion in a month as a result of surging NFT volume. In addition, Polygon’s revenue jumped by 30% as TVL increased.
What about Polygon?
Despite rising interest in Polygon’s NFT space and a rise in TVL, Polygon’s weighted sentiment decreased. This indicated that the crypto community viewed Polygon negatively at the time of writing.
Along with this, Polygon’s network growth and transaction volume fell, showing a fall in the frequency with which new addresses conducted transactions utilizing MATIC.
The decline in whale interest in Polygon may have been caused by a decline in sentiment and network activity. The declining quantity of whale transactions on the Polygon network reflected this.
Despite these obstacles, the 1,6 million users on Polygon OpenSea indicated the platform’s growing popularity and future growth potential.
In summary, the reach of Polygon’s NFTs shows how popular NFTs are getting and what role Polygon plays in the NFT market. Notably, OpenSea’s large number of users still gives us hope that the platform will grow in the future.