Polygon ranks top 3 by active developers across 2 key regions: Electric Capital
Polygon Weekly Overview - December 20, 2024
Welcome back to the Polygon Weekly Overview. The best place for Polygon community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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By The Numbers
Polygon daily active addresses: 507K (+4.19%)
Polygon daily txns: 3.41M (+4.6%)
Polygon Total Volume Locked (TVL): $1.17B (-9.23%)
NFT weekly sales volume: $4.7M (+12.4%)
Top 3 NFT collections by sales volume:
Courtyard: $2.44M (+43.4%)
LEDNFT: $218K (-6.5%)
Mining Pass: $106K (-59.7%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Agglayer Spotlight
🟪What happened: Polygon is one of the fastest growing blockchain ecosystems and the third largest in active developer market share in Asia and South America, following Ethereum and Solana, respectively, according to Electric Capital’s 2024 Crypto Developer Report.
🟪Why does it matter: In general, the report found Asia has emerged as the fastest-growing region for crypto development. Polygon’s dominance in the region can be attributed to its accessible tools and resources that have attracted builders, in addition to over 1,000 new developers added globally this year.
The Polygon ecosystem has been working on improving its technology. For instance, Polygon’s upgraded zero-knowledge proving system, Plonky3, has broken records in hashing speeds with 2 million hashes per second. A breakthrough big enough for Ethereum’s Vitalik Buterin calling it a win.
Plonky3's open-source zkVM technology allows developers to create customized solutions that drive innovation across ecosystems. Its high-performance and scalable zero-knowledge systems have increased industry adoption, with recent integrations on Scroll’s new zkVM as they seek to enhance performance and compatibility with the Ethereum Virtual Machine (EVM).
Innovation and adoption of the Polygon’s technology with zero-knowledge systems like Plonky3 contributes to overall integration within its ecosystem for enhanced interoperability and cross-chain communication, especially with the Agglayer mainnet launch coming next year.
The report also found 70% of developers on Polygon and other networks built across multiple chains. This aligns with the Agglayer as users and developers will be able to use what feels like a single chain while unifying liquidity across a multi-chain ecosystem.
🟪The big picture: The massive adoption of Polygon’s technology has solidified its position as one of the fastest-growing chains across multiple key regions. Asia is arguably one of the biggest markets for the crypto industry, with high amounts of investors, builders and more deriving from that region. And it makes sense as Asia is the top continent by developer share, the report found.
Polygon’s adoption this year can be attributed to various innovative and high performance interoperability tools like Plonky3. The record-breaking performance of Plonky3 not only highlights the potential for zkVM advancements but enhances scalability and efficiency in the blockchain space. With 70% of developers working across multiple chains, the demand for easy cross-chain communication and interoperability has never been higher.
As the Agglayer mainnet will launch in 2025, it will address these challenges by unifying fragmented chains into an ecosystem that feels like a single chain. By leveraging technologies like Plonky3, the Agglayer aims to provide an optimized experience for developers and users while driving a more connected and efficient future in blockchain.
Into the Agglayer
Polygon Labs announced the Agglayer v0.2 testnet is now live
Agglayer’s X account shared its top four new ideas for four use cases
Learn about Intent-Based Architecture and ERC-7683, from this talk during the Aggsummit
Ronin, the gaming dApp built on Polygon, saw an increase of 123% in incoming volume on Axie Infinity this week, according to DappRadar
Ecosystem Showcase
Polygon Labs CEO Marc Boiron went on The Rollup podcast to discuss the upcoming Agglayer mainnet launch
Courtyard launched an auction featuring twelve new Charizard trading cards
Read the community proposal from AllezLabs and others calling to activate stablecoin reserves on the PoS Bridge
Featured headlines
You might have seen these Polygon-related headlines recently…
Allez Labs proposes yield opportunity for Polygon PoS bridge funds (Cointelegraph)
AggLayer will Stand the Test of Time: Sandeep Nailwal on Polygon's New Quest (entrepenuer.com)
ADGM and Polygon Labs Collaborate to Drive Blockchain Innovation (CoinTrust)
Join in the fun
Want to dive into the Polygon ecosystem full-time? Find the latest job postings here.
Join the Polygon developer community and join the Discord
Check out the Align airdrop open for all $POL holders
Look into @agglayerzone on X for updates on the Agglayer ecosystem
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This product was built by Token Relations.
This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.