Arbitrum

Polygon

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/polygon-matic-gains-importance-amid-rising-layer-2-network-arbitrum-arb/" data-wpel-link="internal">Polygon (MATIC) Gains Importance Amid Rising Layer-2 Network Arbitrum (ARB)</a><br></p>
<p style="text-align: justify"><strong>Polygon (<a href="https://en.coin-turk.com/indian-government-certifies-on-polygon-network-creating-more-real-world-use-cases/" data-wpel-link="internal">MATIC</a>)</strong> has recently gained significant importance, particularly with the launch of the Layer-2 network Arbitrum (ARB) in the past months. An analysis of Polygon’s volume trajectory on <strong>DefiLlama</strong> could indicate an uptrend. By the end of December, it reached its second-highest volume of the year at approximately $435 million.</p> 
<h2 id="matic-and-arb-s-tvl">MATIC and ARB’s TVL</h2> 
<p style="text-align: justify">The highest volume of 2023 occurred in March, reaching around $669 million. Notably, Polygon’s volume surpassed $1 billion only once in 2021, exceeding $2 billion. At the time of writing, the <strong>altcoin’s</strong> volume was around $106 million. When examining the Total Value Locked (TVL), there has been a general decline for Polygon in recent weeks, with the TVL currently around $845 million. In contrast, <strong>Arbitrum’s</strong> TVL was over $2 billion and has shown an upward trend in the last few weeks.</p> 
<p style="text-align: justify"><strong>Arbitrum’s</strong> volume in the last 24 hours was over $405 million. It is noteworthy that Arbitrum’s volume surpassed $1.8 billion twice in the new year. According to data analyzed via L2 Beats, Arbitrum was the dominant Layer 2 (L2) network at the time of writing. During this period, Arbitrum dominated approximately 50% of the market share with a Total Value Locked (TVL) of over $9.8 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-299376 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/matic.png" alt="" width="874" height="540"></p> 
<h2 id="polygon-falls-behind">Polygon Falls Behind!</h2> 
<p style="text-align: justify">Conversely, <strong>Polygon</strong> was relatively modest, ranking 12th with $111 million and owning less than 1% of the market share. These data underscore a significant shift in the L2 landscape and signal that other networks are overtaking Polygon. These alternative L2 networks are not only generating higher volumes but also attracting a broader user base, as indicated by their growing market shares.</p> 
<p style="text-align: justify">An examination of Polygon’s daily timeline chart shows the impact of recent market movements on its price. On January 3rd, Polygon experienced a significant price drop of about 11.8% and has been struggling to recover since. Before the crash, the trading price was around $1, but at the time of writing, it had fallen to approximately $0.8. In contrast, Arbitrum showed a different trend during the market crash. Despite the broader market downturn, Arbitrum gained over 8%. However, it recently faced a decline, with losses over 2% and above 10% on January 5th. At the time of writing, it was showing nearly a 5% gain, with a trading price around $1.8.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/polygon-matic-gains-importance-amid-rising-layer-2-network-arbitrum-arb/" data-wpel-link="internal">Polygon (MATIC) Gains Importance Amid Rising Layer-2 Network Arbitrum (ARB)</a></h5>

Polygon (MATIC) Gains Importance Amid Rising Layer-2 Network Arbitrum (ARB)

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