Introduction

Polygon is performing well in terms of its native token price which is MATIC. If you take a look at price charts of different assets you’ll see that despite bloody condition of market, MATIC actually had many green days and price held steadily and outperformed most of market in this aspect. This raised the question of whether or not Polygon is still alive and developing on its long term perspective. By looking at some simple yet important basic statistics from polygon network we can have a much more valid opinion on this matter than just personal speculation. So, Let’s take a look at these criteria together.

Methodology & Analysis

I am going to investigate recent activity on polygon in terms of number of transactions and daily users. The focus point is the period after July 1st but to be more comparative I also included some days earlier; You can not assess a position on its own, you need to compare it to some control variable which in this is time.

• Starting from Daily transactions you can see a very small down trend which is not significant or remarkable at all. Comparing to May, we can see there were days with transactions lower that July.
• There are some dropped numbers which are either due to defect in database or congestions or other problems from Polygon network itself.

Daily unique active addresses, which is another important metrics for growth assessment, also follows the same path as number of transaction. Meaning a small down trend, but not so big so one could claim Polygon performance is decreasing.

Getting more detailed we can see that there were ton of new users in polygon since July 1st. These are people who didn’t have any transaction before July and the numbers are significant.

Conclusion

We are entering a bear market which can potentially last for years. I believe we haven’t tasted this bear market feels yet - This probably would be one or two month later. In this conditions, we can rightfully expect any Metrics of a growth to drop down (and if we compare to Q4 2021 we will see much stronger signals. But as of today, Polygon and many more chains still kept their engagement and interaction level. One possible scenario for chains like Polygon which are essentially scalability solutions for Ethereum is that they gradually loose their users since Ethereum transactions are low again; But we have to wait and see.