A look at the journey of Polygon zkEVM as it crosses a new milestone 

Polygon zkEVM: A Look at Recent Growth & Achievements

Polygon zkEVM has seen an impressive recovery in network activity over the past few weeks. With increasing fees and revenue, the rollup has made remarkable progress since its launch in Q1 2023. Let’s take a closer look at its recent achievements and how it compares to its competitors.

Achieving New Milestones in DeFi Space
Polygon Daily recently tweeted that the Total Value Locked (TVL) on Polygon zkEVM crossed the $100 million mark with over 100,000 depositors. More than half of the total zkEVM wallets were new, indicating a surge in popularity.

Recent Developments & Integrations
Several developments have contributed to the rise in TVL, including the launch of E-CLP for rETH/WETH and the integration of Symbiosis and Socket protocols. Additionally, OKX launched an ETH L2 called X1 using the Polygon CDK, demonstrating the growing potential of the rollup.

Network Performance
According to AMBCrypto’s analysis of Artemis’ data, zkEVM’s daily active addresses and transactions experienced a downward trend before gaining momentum in late October 2023. However, the rollup’s overall adoption and usage has shown consistent growth in recent months.

Competitive Analysis
When compared to other rollups like zkSync Era and Coinbase’s Base, zkEVM demonstrates lower daily active addresses and transactions. However, its unique address growth and recovery in daily gas usage suggest increasing adoption. Additionally, zkEVM’s fees and revenue have shown substantial growth, overtaking its competitors at times.

MATIC Price Action
While zkEVM is making strides in network activity and DeFi achievements, MATIC’s price has seen a recent downturn. Despite a rally, MATIC’s price declined by nearly 3% over 24 hours with dwindling interest from investors.

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As Polygon zkEVM continues to grow, it faces both challenges and opportunities. Its recent achievements in the DeFi space and significant growth in fees and revenue highlight the rollup’s potential to dominate the market in the months to come. Keep an eye on MATIC’s price and zkEVM’s performance to see how they evolve in the future.

### News source: eng.ambcrypto.com

By Team