Polygon News: The total value fixed in Polygon (MATIC) increased by 1,102% in May. Address activity at Polygon also increased 4 times in the same period. Polygon’s growth has been supported by DeFi implementations and new projects ported from Ethereum.
The Polygon experienced remarkable ecosystem growth during the just-completed May. According to a recent report by DappRadar, the total value locked in Polygon closed May at $5.7 billion, up 1.102 percent from the previous April.
The total value collected in the shooting range (MATIC) is now $7.33 billion!
The 1,102% increase in the total accumulated value on a monthly basis was the largest increase in Polygon history. As of today, the total value pegged to Polygon is currently $7.33 billion. It is striking that the growth in the total value directed at the range (MATIC) started in mid-April and continued until the current June.
Polygon address activity increased 4 times in May. On the other hand, the report by DappRadar pointed out that during the month of May, the number of unique addresses interacting with Polygon (MATIC) increased 4 times. There were more than 36,000 addresses interacting with Polygon in May, compared to 8,500 unique addresses in April.
Polygon’s growth is driven by investment from DeFi and Mark Cuban. The DappRadar team made two statements regarding what triggered Polygon’s growth last month.
To begin with, it can be said that a number of celebrities, such as Mark Cuban, have invested in Polygon. This caused a new wave of interest and increased overall value towards the protocol. Second, existing dapps on Ethereum were migrating to Polygon, and new projects were choosing to position themselves on the more efficient protocol in terms of transaction costs and speeds.