Polygon Daily Transactions & Unique Addresses

In this dashboard, onchain activity for Polygon transactions, daily users, and new users is covered. The aim of the dashboard is to see the overall health and growth of the Polygon network. Starting Date is July 1st, 2022. Data is refreshed Daily

Transactions on Polygon

During this period the number of transactions per day has varied. The lowest has been around 2.2M with the highest being 2.8M. The number of transactions per day varies, based on what day it is but seems to be relatively stable in terms of fees, Polygon has garnered over 650K+ fees in Matic (roughly 325K in USD. While not as great as Ethereum, this is much better in my opinion than some of the other L1 / L2s. In terms of total transactions, the Polygon network is down but there has been shown to be a correlation between the overall market cap of the crypto network and the onchain activity of .crypto From my perspective, while it may not look like Polygon is growing in terms of transactions, I think the overall metric is fine

One thing I wanted to check is if there was a correlation with the price of $MATIC and the onchain transactions during the period. From a day to day perspective this does not seem to be the case, but in the long term, this seems to be true

Active Users Per Day

Polygon is averaging around 250K active users per day. While relatively stable, this metric seems to me to be quite good especially during a bear market

New Users Per Day

What’s interesting about the new users per day metric is that close to 25% of distinct users per day are new addresses. While it does show there is linear growth in Polygon, it could be concerning. How many of these new addresses are just one time transactions or bots?

Conclusion

-Polygon has been showing relatively stable conditions, which is quite good for the current bear market -In the short term price and daily activity are not well correlated -Active users per day is around 250k and is relatively stable -New Addresses are 40k per day, which may be alarming for the overall Polygon Network