• The daily activity of zkSync Era and StarkNet parallels that of Polygon.
• Overall dominance of Polygon in the DeFi sector remained high.

Polygon [MATIC] has been dominating the L2 space in terms of activity over the last few months. However, this dominance could soon be threatened by other L2 solutions.

Realistic or not, here’s MATIC’s market cap in BTC terms

Upcoming L2 solutions such as zkSync Era and StarkNet have been catching up to Polygon in terms of daily activity. Both these solutions were rumored to launch token airdrops soon.

The hype around airdrops may be enough to propel activity on both these networks to new heights. After the tokens for these respective networks get launched, the activity on the networks may surpass that of Polygon, leaving Polygon in the dust.

Will Polygon be able to retain its position?

In terms of the DeFi sector, it could be safe to say that the protocol may still continue to show growth. The TVL on Poygon’s zkEVM protocol continued to rise over the last few months.

The protocol is also on its way to make new developments on its network.

Polygon’s founder, Sandeep Nailwal, has stated that zkEVM ecosystem is preparing for significant growth with the deployment of critical infrastructure such as Safe and Chainlink oracles, as well as user experience improvements based on early developer feedback and cost optimizations through data compression.

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Author: Himalay Patel

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