Despite obstacles, Polygon’s NFT sales reached a record high

Statistics indicate It was noticed that Polygon’s [MATIC] NFT sales have significantly increased as of April 21. When compared to other cryptocurrencies’ NFT marketplaces, was selling rather well and placed second to Ethereum in terms of sales.

In comparison to the prior week, the transaction volume on the Polygon network increased by 19.49%, generating revenues of $15.13 million.

Polygon NFT Statistics Tweet

Nevertheless, despite the rise in interest in Polygon’s NFTs, network activity as a whole has decreased. Data from Artemis shows that during the past month, the number of daily active addresses on Polygon decreased from 435,200 to 294,000.

Data provided by Artemis

During the same period, the number of transactions performed on the Polygon network declined as well, from 2.9 million to 2.4 million.

Data provided by Dapp Radars

One of the potential causes of its fall in activity is waning interest in Polygon’s dApps. Major dApps on the Polygon network, including Planet IX, have had trouble getting momentum, according to Dapp Radar statistics.

During the week ending April 15, there were 31.5% fewer individual active wallets on the network. Additionally, a 51.96% drop in protocol transactions was observed.

The actions performed by the Polygon development team to improve the protocol might function as a motivator to encourage more users to engage with the network. Notably, the UI of Polygon Bridge experienced several changes targeted at enhancing its usability and accessibility.

The long-term growth plan of Polygon includes such initiatives to enhance the platform’s functionality and user experience. The network is better positioned to keep its current user base and perhaps draw in new ones by introducing modifications that support greater ease of use and accessibility.

I am Vishal. I post articles about the cryptocurrency markets. I'm pursuing a BBA degree. My home is in Navi Mumbai, Maharashtra.I'm constantly interested in new advancements in this industry and I learn something new about it every day. I would love to share such information with you all.

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