Daily Transactions and Unique Addresses
Q1. Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022. In your estimation, discuss whether Polygon is still growing, has reached a plateau, etc.
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- The Bar Charts above show the daily number of transactions and unique addresses on Polygon beginning June 6th, 2022.
- As can be seen, the daily number of transactions on Polygon in July was averaging more than 2 million transactions each day.
- The daily transactions in July is considerably higher when compared to a month ago when only around 1 million transactions were executed per day.
- Next, the unique addresses on Polygon peaked on June 27th with over 400k addresses.
- However, since the second week of June, the unique addresses on Polygon was ranging from 200k to 300k addresses per day.
Is Polygon still growing, has reached a plateau?
According to the preceding information, the daily number of transactions and unique addresses on Polygon has declined slightly in the month of July.
However, this is primarily due to the current economic downturn in the financial markets, which has resulted in a decrease in daily activity for the majority of the chains.
On top of that, the crypto industry as a whole is only in its infancy and constantly growing. Therefore, there is undoubtedly much more potential for projects like Polygon to grow and accomplish much more than they do now.
Conclusion
- In July, Polygon average more than 2 million transactions and ranging from 200k to 300k addresses per day.
- Although activity has decreased as compared to the last week of June, this is mostly due to the current market situation.
- Furthermore, the crypto industry is still in its infancy and is growing rapidly. Therefore, projects like Polygon have a lot more room to grow.