New Messari Q3 report on Polygon


new report Messari’s research into the state of the Polygon network revealed a 180% increase in QoQ for new addresses. Active addresses also reached a record high of his 6 million, and total transactions in the third quarter he surpassed 2 billion.

Other key metrics for Polygon are listed in the table below. According to Messari data, the active validator set has increased by more than 100% since 2021, and the total supply staked has increased from 29.8% in 2021 to 38.4%.

Source: Messari

Polygon has invested $1 billion in ZK scaling technology and raised $450 million in a move to expand its successful PoS chain. Additional chains include Supernet, Avail, Zero, Miden, zkEVM, Nightfall, and Edge. Each chain is optimized for different scaling or privacy solutions.


The Polygon PoS Ethereum sidechain is still responsible for the majority of Polygon’s network activity. The announcement of core partnerships with Disney, Reddit, Starbucks, and more has allowed new users to join the network and interact with the brand’s NFTs.

Messari also highlighted that while the global market cap of the cryptocurrency industry remains in the $1 trillion range, Polygon’s market cap is up 43% quarter-on-quarter.

Additionally, 14% of total supply has been moved from vesting contracts to staking or Polygon Treasury. The remaining 270 million of his MATIC were allocated to Polygon’s treasury in October. This means that the entire supply is now in circulation.

Polygon ecosystem

Looking at the Polygon ecosystem, the top 10 DeFi projects accounted for 70% of the network’s TVL. TVL’s 43% drop was due to competition between Optimism and Arbitrum’s new liquidity mining campaign.

Game transactions soared by 100% in September, surpassing 15 million game transactions. New games launching over the network, such as Arc8, Benji Bananas, Planet IX, and Sunflower Land, are reportedly responsible for the increased activity.

According to Messari, the Polygon NFT ecosystem had the strongest performance in the third quarter. The horse racing game Zed Run and Reddit’s Collectible Avatars laid the foundation for his growth. Polygon’s number of NFT users surpassed 5 million in August, and the number of transfers surpassed 50 million.

polygon nft
Source: Messari

However, not all aspects of the report showed bullish data. Polygon’s sales fell 26% to his $4.2 million as transaction fees fell 51%.

The report concluded:

“Despite the ongoing bear market, Polygon continues to pick up the pace. By allowing independent teams to experiment with different scaling approaches, Polygon fosters strong collaboration and information sharing. I have.”

Within the report, each of Polygon’s core solutions was reviewed in detail. The launch of additional scaling solutions on both testnet and mainnet is why Messari is bullish on Polygon heading into his first quarter of 2023. But the report also highlights that Polygon is betting hard on his ZK scaling future for Ethereum.

“Polygon is betting on ZK scaling the future of Ethereum, so Polygon’s success will depend heavily on its ability to quickly and effectively deliver new ZK solutions.”

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