Polygon (MATIC) is seeing an increase in network and developer activity in the second quarter of 2022 despite the ongoing crypto bear market.
Polygon is a scaling solution that aims to enable large-scale adoption of decentralized applications on Ethereum (ETH) blockchain.
The Polygon chain is now home to 5.34 million unique addresses, a 12% increase from the first quarter of the year, according on the project’s Twitter account. Q2 transactions also increased by 4% and the average transaction cost fell 49% to $0.018.
Additionally, the OpenSea non-fungible token (NFT) marketplace saw 1.2 million new non-fungible tokens (NFT) go live on Polygon in the second quarter.
Developer activity is also skyrocketing: the network added an average of 1,000 new contract creators per day in the second quarter. This brought the project total to 90,514, “more than triple the pace of growth” in the first quarter, according to Polygon. In addition, an average of 2,700 new contracts were Direct on the project channel every day.
Polygon was also recently selected by the Walt Disney Company to participate in its new Disney Accelerator 2022 program.
The accelerator offers chosen companies “access to The Walt Disney Company’s range of creative expertise and resources to help them develop new entertainment experiences and products,” according to the program. website.
Polygon’s native token, MATIC, is trading at $0.95 at the time of writing. The 12th-largest crypto asset by market capitalization is up almost 10% in the past 24 hours.
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