{"id":235360,"date":"2021-04-26T01:36:56","date_gmt":"2021-04-25T22:36:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/polygon-matic-jumps-ahead-as-the-race-for-layer-2-adoption-picks-up\/"},"modified":"2021-04-26T01:36:56","modified_gmt":"2021-04-25T22:36:56","slug":"polygon-matic-jumps-ahead-as-the-race-for-layer-2-adoption-picks-up","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/polygon-matic-jumps-ahead-as-the-race-for-layer-2-adoption-picks-up\/","title":{"rendered":"# Polygon (MATIC) jumps ahead as the race for Layer-2 adoption picks up"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a30572b37bdc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a30572b37bdc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/polygon-matic-jumps-ahead-as-the-race-for-layer-2-adoption-picks-up\/#Popular_projects_migrate_to_Polygon\" >Popular projects migrate to Polygon<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/polygon-matic-jumps-ahead-as-the-race-for-layer-2-adoption-picks-up\/#DEX_volume_increases\" >DEX volume increases<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Polygon (MATIC) jumps ahead as the race for Layer-2 adoption picks up <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Recently layer 1 solutions like the Solana (SOL) and Cosmos (ATOM) have grown in prominence thanks to each network&#8217;s faster transaction times and lower fees when compared to the Ethereum\u00a0network. An even greater focus has fallen on layer 2 solutions that can help Ethereum keep up with the competition as it continues its process of switching to proof-of-stake.\u00a0<\/p>\n<p>One project that has seen a steady rise in user activity and transactions over the past 2 months is Polygon (MATIC), a platform for Ethereum scaling and infrastructure development.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/b7f574f9-8985-4416-882c-72273d5846f6.png\"><figcaption style=\"text-align: center;\"><em>MATIC\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/MATICUSDT\/\">TradingView<\/a> shows that since hitting a low of $0.26 as the market sold off on April 18, MATIC price has climbed 50% to $0.39 as adoption of this expanding L2 platform begins to ramp up. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Popular_projects_migrate_to_Polygon\"><\/span>Popular projects migrate to Polygon<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Following the early February announcement that the Matic Network would be rebrand to Polygon as part of its effort to become the go-to L2 aggregator for the Ethereum network, the protocol has seen a significant increase in user and project adoption. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Polygon, the top <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#ethereum<\/a> layer 2 is going nuts! <\/p>\n<p>Integrations with Aave, Pooltogether, Sushiswap, Open Sea, Curve Finance, Decentraland, and loads of other big <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/defi?src=hash&amp;ref_src=twsrc%5Etfw\">#defi<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications. <\/p>\n<p>TVL on Aave on Polygon nearing 1 billion. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24matic&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$matic<\/a> undervalued<\/p>\n<p>\u2014 Lark Davis (@TheCryptoLark) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheCryptoLark\/status\/1386107860610785282?ref_src=twsrc%5Etfw\">April 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Since the rebrand, multiple decentralized finance (DeFi) and nonfungible token-related projects have made the decision to integrate with Polygon to take advantage of its fast, low fee environment.<\/p>\n<p>Some of the more significant DeFi integrations include the decentralized exchange SushiSwap (SUSHI) and Curve Finance (CRV), while <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygon\/status\/1384529793761243140\">OpenSea<\/a>, Decentraland (MANA) and Aavegotchi (GHST) are large NFT communities that now utilize the Polygon network. <\/p>\n<p>On March 31, the popular DeFi lending platform AAVE <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MihailoBjelic\/status\/1386051486023667718\">announced<\/a> that it was exploring \u201cnew scalability frontiers\u201d with Polygon, and the subsequent launch of AAVE on the L2 solution rapidly grew to $1 billion worth of liquidy and more than 7,200 users just 10 days after launch. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A big day for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\">@0xPolygon<\/a> and the whole Ethereum ecosystem!<\/p>\n<p>$1 BILLION in liquidity and 7.2k USERS on a single application, 10 DAYS after the launch! <\/p>\n<p>Huge thanks to the amazing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AaveAave?ref_src=twsrc%5Etfw\">@AaveAave<\/a> team and the whole Ethereum community! <\/p>\n<p>This is just the beginning, stay tuned!  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/wqvoOLgNbT\">pic.twitter.com\/wqvoOLgNbT<\/a><\/p>\n<p>\u2014 Mihailo Bjelic (@MihailoBjelic) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MihailoBjelic\/status\/1386051486023667718?ref_src=twsrc%5Etfw\">April 24, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"DEX_volume_increases\"><\/span>DEX volume increases<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Popular decentralized exchanges like Uniswap and SushiSwap were a major catalyzing force for the growth of DeFi and the cryptocurrency sector as a whole over the past year, demonstrating the importance of a properly functioning DEX for the growth of the ecosystem. <\/p>\n<p>While SushiSwap is one protocol that has made integrations with the Polygon network along with numerous other blockchains, the QuickSwap DEX is a project that is solely focused on increasing available liquidity for the Polygon ecosystem.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-04\/e0c06ea3-360c-40e7-9bfc-8c36b0ad95ae.png\"><figcaption style=\"text-align: center;\"><em>QuickSwap liquidity and 24-hour volume. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/info.quickswap.exchange\/home\"><em>QuickSwap<\/em><\/a><\/figcaption><\/figure>\n<p>As seen in the charts above, liquidity and trading volume on QuickSwap saw rapid gains beginning in late February and this trend continued throughout March. Over the past two weeks, there has been a noticeable uptick in volume on the platform and this corresponds with the recent Polygon adoptions.<\/p>\n<p>Increased activity on decentralized exchanges is partially due to the growing list of projects now available on Polygon. A quick scroll through the project&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> feed shows a long list of recent integrations including <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/iotex_io\/status\/1385088978802683905\">IoTeX<\/a> (IOTX), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Everipedia\/status\/1384744748452171778\">Everipedia<\/a> (IQ), <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygon\/status\/1385220635144695818\">Gelato Network<\/a> (GELATO), Just Bet (WINR) and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygon\/status\/1385273165010534402\">Umbrella Network<\/a> (UMB), to name a few. <\/p>\n<p>Going forward, it&#8217;s likely that a growing number of Ethereum-based projects will look for a faster, low-fee environment that also allows them to stay on the top smart contract platform. If they shift to Polygon, there is a chance of significant upside potential and the current growth in MATIC price and the rising TVL of QuickSwap both serve as proof that the protocol is a strong layer-2 contender.\u00a0<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/polygon-matic-jumps-ahead-as-the-race-for-layer-2-adoption-picks-up\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Polygon (MATIC) jumps ahead as the race for Layer-2 adoption picks up &#8221; Recently layer 1 solutions like the Solana (SOL) and Cosmos (ATOM) have grown in prominence thanks to each network&#8217;s faster transaction times and lower fees when compared to the Ethereum\u00a0network. An even greater focus has fallen on layer 2 solutions that&#8230;<\/p>\n","protected":false},"author":1,"featured_media":235361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDQvOWVlYjE5MWEtMmNlYS00ZGIzLWE0YmUtZGYzZjMzYWU4OWRhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74894,74863,74877,75239,99002,74868,75916,74891,95119,74939,95118,73785],"class_list":["post-235360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-blockchain","tag-cryptocurrencies","tag-decentralized-exchange","tag-decentralized-finance","tag-decentralized-marketplace","tag-defi","tag-dex","tag-ethereum","tag-layer2","tag-market-analysis","tag-nft","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/235360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=235360"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/235360\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/235361"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=235360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=235360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=235360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}