Polygon releases zkEVM achievements; will MATIC witness a halt on its pullback

• Polygon revealed the achievements of its zkEVM since its launch
• MATIC’s response was not on top of things, however metrics supported a value surge 

Polygon [MATIC] had quite a bit to share with the crypto neighborhood close to its zkEVM’s achievements. To supply complete EVM opcode equivalency for a seamless consumer expertise and the safety of Ethereum, Polygon zkEVM is the primary zk-rollup with supply code out there.

As per a tweet dated 24 December, Polygon’s zkEVM, since its launch in October 2022, processed practically 22,000 transactions.

For the reason that rollout of Polygon zkEVM’s public testnet in October, we’ve seen:
– 21,966 txs processed
– 14,930 ZK proofs generated & verified
– 10,508 pockets addresses created

And counting… @0xpolygondevs are floored by the Ethereum neighborhood’s assist.

— Polygon ZK (@0xPolygonZK) December 23, 2022

What number of MATICs are you able to get for $1?

Extra in retailer

The tweet additionally revealed that 10,508 pockets addresses had been created. Moreover, the entire variety of deployed contacts elevated by greater than 4%. Furthermore, Polygon zkEVM remained the primary EVM-equivalent ZK rollup and the one ZK rollup with all the supply code out there for each part—together with the prover.

Curiously, not solely the zkEVM but additionally Polygon’s NFT house additionally witnessed a increase. In line with NFT Scan, over 1,000 NFT contracts had been created within the final 24 hours, and Polygon’s NFT quantity registered a spike of over 73,000.

Santiment’s chart additionally revealed that MATIC’s whole NFT commerce rely and commerce quantity in USD went up in the previous couple of days. This mirrored Polygon’s reputation within the NFT ecosystem.

Supply: Santiment

One other main milestone was lately revealed when Polygon outperformed BNB when it comes to the variety of each day transactions on the chain. This was reported on Twitter by the crypto analytics agency Delphi Digital.

A 43.38x hike on the playing cards if MATIC hits Bitcoin’s market cap?

Was MATIC affected?

Whereas these developments had been fairly constructive for Polygon, MATIC too made it to the list of the highest gainers within the Polygon ecosystem. Nonetheless, MATIC’s weekly value motion was not on top of things. Due to the bearish market situation, the expansion of most cryptos and MATIC witnessed restricted motion.

At press time, MATIC was trading at $0.797 with a market cap of greater than $6.9 billion. Nonetheless, issues would possibly quickly change as MATIC’s Market Worth to Realized Worth (MVRV) Ratio has declined significantly over the previous month. This may very well be an indicator of a market backside.

MATIC’s energetic addresses additionally remained fairly constant, which was additionally a constructive sign. CryptoQuant’s data revealed that MATIC’s trade reserve was lowering, suggesting much less promoting strain. Nonetheless, Polygon’s community progress didn’t look optimistic, which could trigger hassle within the coming days.

Supply: Santiment