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  • This comes two weeks after Chainlink’s integration with Polygon zkEVM.
  • Polygon zkEVM’s each day energetic addresses jumped 51% during the last week.

L2 scaling resolution Polygon [MATIC] zkEVM noticed its decentralized trade (DEX) volumes soar by almost 200% during the last month, reflecting elevated choice for initiatives housed on the community.

In accordance with AMBCrypto’s evaluation of Artemis’ information, trades value $2.89 million had been settled on the community on the twenty seventh of December, the best because the peak of $3.76 million attained on 14th November.

In reality, during the last seven days, DEX volumes have averaged 1.84 million.

Supply: Artemis

Whereas these numbers paled compared to DEX exercise on different L2 chains, the sharp development grabbed the eye of business watchers.

Chainlink’s integration the explanation?

These developments come on the heels of decentralized oracle community Chainlink’s [LINK] integration with the zero-knowledge scaling resolution.

As a part of the settlement, DeFi builders on Polygon zkEVM would have entry to Chainlink’s real-time value feeds. This was anticipated to energy the event of decentralized exchanges, liquidity protocols, and different initiatives on the chain.

As is well-known, Chainlink is an oracle community that feeds real-world information to blockchain-based good contracts.

Whereas there isn’t any conclusive proof to hyperlink the present upsurge in DEX volumes to this growth, the potential for the identical remained excessive.

Polygon zkEVM sees 51% bounce in customers

The explosion in Polygon’s DEX exercise induced an uptick in on-chain exercise as properly. The each day energetic addresses jumped 51% during the last week, AMBCrypto detected utilizing Artemis’ information.

Furthermore, each day transaction on community climbed 22% since final week. On the twenty sixth of December, greater than 31k transactions had been processed on the scaling resolution, highest in almost a month.

Supply: Artemis

In the meantime, Polygon ecosystem’s native token MATIC pulled again 2.32% within the final 24 hours, as some weak fingers determined to lock in features, information from CoinMarketCap confirmed.

Nonetheless, this wasn’t earlier than a superb interval in December throughout which the returns on the coin grew by 33%. As of this writing, MATIC was exchanging fingers at $1.01.

Learn MATIC’s Value Prediction 2023-2024

Observe that as a part of the upcoming Polygon 2.0 mission, MATIC can be upgraded to a extra versatile utility token POL.

In a current interview, Polygon Labs CEO Marc Boiron touched down on the motivation behind the improve.

Supply hyperlink

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