MATIC loses to ‘optimist’ demand, but are whales planning a comeback

ambcrypto.com:

The launch of the Polygon [MATIC] zkEVM Mainnet could set in motion a combat among projects in the layer two (L2) ecosystem. Surely, all, including Arbitrum [ARB] and Optimism [OP], have their strengths. However, Polygon noted that zkEVM would improve on the scaling effect and improve its current numbers. 

Realistic or not, here’s MATIC’s market cap in OP’s terms

But before the Polygon event, these optimistic rollup-based protocols made more transaction fees than the eighth-largest blockchain. As shared by The Rollup, using Token Terminal’s data, both Arbitrum and Optimsm outperformed Polygon in the last 30 days.

— The Rollup (Formerly DeFi Slate) (@therollupco) March 28, 2023

This data implies that the number of addresses registering on the optimistic rollup network was higher. The same goes for the transactions made. And, in retrospect, Polygon’s revenue decreased For Arbtirum, this could be connected to the recently distributed AirDrop, which caused FOMO and FUD. Many also seem to view the Arbitrum ecosystem as a potential long-term favorite; hence, the rapid growth in the number of users.

The reason for Optimism’s growth was unclear even though it was the L2 star of Q3 2022. However, it was possible that the action of MATIC whales could make way for the Polygon’s resurgence. This was because the number of addresses holding 1,000 to 100,000 worth of the token had increased their holdings since the zkEVM pronouncement.

Source: Santiment

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