Polygon 2024 Overview

    Polygon (MATIC) is both a cryptocurrency and a scaling platform. It connects and grows Ethereum-compatible blockchain networks and was designed to fix Ethereum scalability issues. In other words, Polygon, formerly known as Matic network, provides an easy framework for new and existing blockchain projects to build on Ethereum without scalability issues.

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    INTRODUCTION

    This overview aims to provide details about transactions made on Polygon from the start of 2024 up to the current date.

    Using Polygon's transaction data, the dashboard shows the relationship across Uniswap V3, Curve, Balancer, and Sushiswap. The dashboard provides details on the following:

    • Total Volume Traded
    • Trading Volume over Time
    • Total Active Users
    • Active Users over Time
    • Total Number of Transactions
    • Number of Transactions over Time
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    OBSERVATIONS
    • As the year progresses, barely 54 days have elapsed, yet the Polygon Ecosystem has already recorded a staggering 5.7 million transactions. Notably, the total trading volume has surged from millions to an impressive 17.4 billion across prominent DEXs such as Uniswap-v3, Sushiswap, Balancer, and Curve.

    • Among these decentralized exchanges (DEXs), a cumulative total of 468.1k transactions were recorded, with Uniswap-v3 being the dominant choice among users.

    • As the year unfolds, this rapid pace of activity on the Polygon Blockchain underscores its growing prominence in the digital asset ecosystem.

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