• Polygon’s fees and revenue plummeted over the last 90 days.
• Supply distribution was bearish, but open interest declined. 

Polygon’s [MATIC] network stats have stagnated over the past few months, which suggests decreased usage. However, Polygon’s gaming ecosystem has been flourishing with its latest partnership. Are achievements in the gaming space enough for the blockchain to recover?

Is your portfolio green? Check the Polygon Profit Calculator   

Polygon’s dwindling network stats

Artemis’ data revealed that Polygon’s daily active addresses plateaued over the last three months. A similar trend was also seen in the number of daily transactions, suggesting a decline in usage and adoption. Additionally, the network’s value also registered a decline, which was evident from the drop in its TVL. 

To add to the story, the decline in Polygon’s usage was also proven by its network fees. As per Token Terminal, the blockchain network fees declined sharply over the last 90 days. Thanks to that drop, the blockchain’s revenue also plummeted, which looked concerning for the network. 

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Author: Dipayan Mitra

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