Daily Transactions and Unique Addresses

    What Will You Read?

    In This analysis, You will read about daily transactions and unique addresses on Polygon. I Counted and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022.

    What is Polygon?

    Definition. Polygon is a “layer two” or “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network's native cryptocurrency, which is used for fees, staking, and more. You can buy or sell MATIC via exchanges like Coinbase.

    \n Analyzed By Hess - Reading Time Almost 10 Min

    Method

    • The method was simple. I used polygon.core.fact_transactions table and calculated daily transactions and unique users.

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    • The Total number of Unique users in July is 1.2M and the total number of transactions is 33.8 on Polygon.

    Total Daily Number of transactions and Unique Users

    • Polygon keeps current number of transactions and unique users.
    • There were some ups and downs but keep its numbers and we can not see any increase.

    New Users On Polygon

    • To understand Polygon's growth we should take a look at the previous numbers.
    • It seems the highest number of new users joined to Polygon network last month. It shows Polygon Still is growing.
    • In about 14 days, 0.6M new users joined Polygon.
    • The highest number of new users joined on Polygon In June.
    • The second month that highest number of new users joined Polygon was in January.
    • The third month is April.

    Total Number of New Users per Month

    In Monthly Chart, We can see the total number of transactions decreased on Polygon.

    From about 180-200M transactions decreased to 80-100M daily.

    Conclusion

    The short Conclusion is Yes. The Polygon network is still growing. The total number of new users that joined Polygon was higher than at the beginning of the year. It is true that the total number of transactions decreased by nearly 50% but the new users are more important to a platform. Transactions could have another reason as BTC price dropped or the market crashed.

    Thank You For Reading

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