Will Polygon benefit from upcoming zkEVM launch? Facts suggest… 

• As Poly­gon zkEVM launch date approach­es, MATIC’s unique address­es see a rise.
• The coin’s price action favored the investors, and met­rics remained bullish.

The wait is com­ing to an end soon, as the much-talked-about launch of Poly­gon [MATIC] zkEVM is just 10 days away. 

Ahead of the launch, Poly­gon recent­ly announced that its zkEVM start­ed sup­port­ing Ether­scan. It is a major devel­op­ment as Ether­scan is a lead­ing block explor­er and ana­lyt­ics plat­form for Ethereum [ETH].

The pub­lic test­net for Poly­gon #zkEVM now sup­ports Ether­scan, the most advanced, down-since-day-one block explor­er for search­ing and brows­ing Ethereum txns 🗂️🔎https://t.co/m618nEWojM

— Poly­gon ZK (@0xPolygonZK) March 16, 2023

Read Polygon’s [MATIC] Price Pre­dic­tion 2023–24

State of Polygon zkEVM

A look at zkEVM’s met­rics sug­gest­ed that it has reg­is­tered con­sid­er­able growth over the last few months. As per the offi­cial data, there have been more than 148,000 trans­ac­tions on zkEVM so far, and its aver­age block time was 1.3 minutes. 

More­over, the total num­ber of wal­let address­es also exceed­ed 29,000. The blockchain’s co-founder, Mihai­lo Bjel­ic, also revealed that the aver­age prov­ing cost per zkEVM trans­ac­tion is $0.000084, which is a com­mend­able fig­ure, prov­ing zkEVM’s efficiency.

Aver­age prov­ing cost per @0xPolygon zkEVM trans­ac­tion is $0.000084! 🔥

A year ago, every­one famil­iar with the con­cept of zkEVM (includ­ing us 🙈) was not con­vinced that these lev­els of prov­ing effi­cien­cy will ever be possible.

Imag­ine where we will be in a year from now.. 💫 https://t.co/AOk5SxvYr5

— Mihai­lo Bjel­ic (@MihailoBjelic) March 16, 2023

zkEVM helping Polygon grow

As the hype around zkEVM con­tin­ued to rise, the Poly­gon net­work as a whole received increased trac­tion. Dune’s data revealed that unique address­es on the Poly­gon gained upward momen­tum for a few weeks.

Source: Dune

Fur­ther­more, the blockchain’s NFT ecosys­tem also wit­nessed sim­i­lar growth, as its sales vol­ume increased by more than 400% in the last 24 hours. 

Poly­gon Dai­ly, a pop­u­lar Twit­ter han­dle that posts updates relat­ed to the Poly­gon net­work, men­tioned in a tweet about the top NFT col­lec­tions of the last week. 

As per the tweet, Col­lect­Trump, The Sand­box, and GN Ape House, topped the list of the most trad­ed Poly­gon NFT col­lec­tions on OpenSea in the last sev­en days. Apart from these, Lens Pro­to­col, Meta Force Space, and Poly­gon Ape YC also made it to the list. 

Most-trad­ed @0xPolygon NFT Col­lec­tions On OpenSea Last 7 Days

🥇 @CollectTrump
🥈 @TheSandboxGame
🥉 @Gnapehouse@LensProtocol@MetaForceSpace@PolygonApeYC@rektdogs@VoxiesNFT@MetaworldCat@genso_meta@Opensea #POLYGON $MATIC pic.twitter.com/tsVDcG2dmx

— Poly­gon Dai­ly 💜 (@PolygonDaily) March 16, 2023

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Is your port­fo­lio green? Check the Poly­gon Prof­it Cal­cu­la­tor 

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MATIC is also benefiting from this scenario

MATIC paint­ed its charts green recent­ly, thanks to the pos­i­tive mar­ket sen­ti­ment. As per Coin­Mar­ket­Cap, MATIC’s price increased by near­ly 5% in the last 24 hours. At press time, it was trad­ing at $1.17 with a mar­ket cap­i­tal­iza­tion of over $10.19 billion. 

The good days might con­tin­ue fur­ther. Con­sid­er this- MATIC’s net deposits on exchanges were low com­pared to the 7‑day aver­age, sug­gest­ing less sell­ing pressure. 

Weight­ed sen­ti­ments remained rel­a­tive­ly high, indi­cat­ing increased con­fi­dence among investors in MATIC. In addi­tion to that, MATIC’s MVRV Ratio increased con­sid­er­ably over the last few days, which was again a bull­ish signal. 

Source: San­ti­ment