ETH overtaken – Polygon briefly has more daily active addresses

Things went really well for Polygon in 2021. Not only has the price increased by 5,562 percent over the course of a year. The project recently celebrated another major milestone: For the first time, Polygon had more daily active users than the previous top dog, ETH.

As Mihailo Bjelic, the co-founder of Polygon, solemnly announced on September 29th, the ETH scaling solution had more daily active users than ETH (ETH) for the first time at the end of September. More accurate could Polygon, also known as “ETH’s Internet of Blockchains”, recorded 350,998 daily active recipient addresses on this day. ETH came on the same day to 326,254 daily active recipient addresses.

Commenting on the recent milestone, Bjelic said:

Another big milestone for Polygon! (…) This is just the beginning. Because we work around the clock to improve our technology, strengthen our ecosystem and increase acceptance. Let’s bring the world to ETH!

Mihailo Bjelic – Co-Founder of Polygon, on Twitter

ETH and Polygon in comparison

The following two graphs show the development of the daily active ETH and Polygon addresses since September 1st of this year. Clearly recognizable: The total daily active ETH addresses (recipient and sender) drop from 508,650 on September 1st to 457,402 daily active addresses on September 29th. A decrease of at least 10.08 percent.

In contrast, the daily active polygon addresses (recipient and sender) rose in the same observation period from 168,740 to 403,306 – an increase of 139.01 percent.

Comparison of the total users of ETH and Polygon

If you compare ETH and Polygon in terms of total users, the picture looks a little different. The following two pictures clearly show the development of the total users of ETH and Polygon. What is particularly striking is that Polygon is catching up at an impressive pace.

Since January 1st, the addresses of ETH have increased from 131.063 million to 170.873 million.

When looking at the total addresses, Polygon cannot yet keep up with ETH. But with 89.09 million total addresses on September 29, Polygon can also boast a lot. Again, it is striking: Polygon has fewer addresses, but the growth rates of the addresses are many times higher than with ETH. In 24 hours, 1.15 million new polygon addresses were added. Since January 1st, the total addresses at Polygon have risen from 127,048 to 89 million to date – an increase of 70,024 percent.

Outlook polygon

On September 30th, the value of all polygon logs is after Data from DeFi information site DefiLama $ 4.2 billion. The most valuable protocol on Polygon is Aave (AAVE). That project is currently responsible for 42.26 percent of the Polygon Protocol value.

The Polygon Network was founded in 2017 and was still called the Matic Network at the time. In February 2021 there was a rebranding in which the new name, “Polygon Network”, was selected. The rebranding did the project noticeably good. Because since the decision was made for the new name, Polygon has climbed the crypto ladder of success. Not only the number of users, the value of the protocols, the MATIC course and the number of daily addresses have multiplied at a rapid pace. The Matic team behind Polygon is also working at full speed to advance and improve the project.

The MATIC team only reported on August 19th for the future of Polygons that an autonomous organization (DAO) should be founded in order to take on the DeFi topic even more intensively. With this project one wants to win a total of 100 million users for the DeFi market. There is also prominent support for Polygon. For example, Mark Cuban had blown a lot of wind into the sails of the Polygon project in May and thus spurred the “catch-up” on ETH even more.