• StarkNet witnessed a rise in TVL and activity, leaving Polygon zkEVM behind.
• MATIC’s price continued to rise as the number of tokePreview (opens in a new tab)n holders increased.

Throughout the year, the zkEVM sector has experienced a notable influx of new competitors, leading to an increasingly crowded market. One of the recent entrants in this domain was Polygon[MATIC], which introduced its zkEVM network recently. However, despite the protocol’s dominance in other sectors, it was being overshadowed by other competing platforms at press time.

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A race to the top

Starknet was one of the protocols that has shown consistent growth in this sector and outperformed Polygon. Over the last 2 weeks, the TVL of Starknet grew to $24.46 million. Additionally, the number of transactions occurring on the network also surged.

Starknet TVL and Transactions both showing especially strong growth the past 2 weeks. pic.twitter.com/1qWVVRWDXV

— Patrick | Dynamo DeFi (@Dynamo_Patrick) July 23, 2023

Polygon lagged behind both Starknet and zkSync ERA in this department. At press time, the number of active addresses on the Polygon zkEVM network just amounted to 8,540 according to Artemis’ data. On the other hand, zkSync Era had acquired 197,840 addresses on its network. Starknet came in second, with the number of addresses amounting to 80,000.

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Author: Himalay Patel

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