Polygon is one such project which has seen quite an increase in the amount of activity along with transactions in the last few months- especially with Layer-2 solutions coming to the foreground.
Most of the Layer-1 solutions like Solana and Cosmos have also grown considerably- using each other’s transaction times coupled with lower fees. This has led to a focus on solutions for Layer-2 which will help the cryptocurrency Ethereum capable of battling the competition with its process of switching to proof-of-stake.
Reports from TradingView and Cointelegraph Markets will highlight that the MATIC token of Polygon has gone through a major increase ever since the markets hit a new low on the 18th of April. The MATIC token has leaped by around 50% to a value of $0.39 as it adopted the platforms of layer-2 to increase transactions.
Popular Projects Migrate To Polygon
The protocol of Polygon has seen quite a major influx of user and project adoption as it announced at the beginning of February that the Network would be rebranding the basic facet of this platform as it was going to be heralded as the layer-two aggregator for Ether.
Ever since the rebrand, there have been quite a few NFT and DeFi that have brought out related projects which have decided to integrate their projects with this platform- in order to take advantage of the low-fee environment, this platform boasts of.
Aave, another DeFi platform for lending, announced on the 31st of March that it would be exploring different frontiers with Polygon- which was fateful as Aave was launched as a solution of layer-2 which soon had a valuation of $1 billion.