Franklin

Immutable

Polygon

<p class="is-style-lead">According to the most recent statistics provided by Ryan Wyatt, president at PolygonLabs, Polygon has quickly become the most widely used blockchain in 2023.&nbsp;</p>



<p>While Wyatt was disseminating the information, he said that the Polygon team is working on long-term protocol plans to give every developer in their community more autonomy.&nbsp;</p>



<p>According to the statistics, the <a href="https://crypto.news/learn/a-complete-guide-to-opening-an-ethereum-wallet/">Ethereum</a> blockchain has been dethroned by Polygon, which is notable since Ethereum&#8217;s popularity, liquidity, and many active users all contributed to Ethereum&#8217;s rise to prominence in 2022.</p>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">We&#39;ve made significant strides at <a href="https://twitter.com/0xPolygonLabs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@0xPolygonLabs</a> as shown in this chart.<br><br>Yet, the road ahead this year is the most exciting as we&#39;re focused on:<br><br>🚀Long-term protocol strategies <br><br>🤝Empowering every developer in our community <br><br>🔄Enabling flywheels in potential PMF areas <a href="https://t.co/cVVb8bShMr" target="_blank">pic.twitter.com/cVVb8bShMr</a></p>&mdash; Ryan Wyatt (@Fwiz) <a href="https://twitter.com/Fwiz/status/1658946810432610306?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 17, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>The most recent information demonstrates that the tides have favoured Polygon. According to the graphic, Polygon&#8217;s popularity increased from 23% in 2022 to 41% in the first quarter of 2023. Because of this, some of the most well-known companies in the sector, such as Nike, Reddit, and Starbucks, have shown interest.</p>



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<p>According to the statistics provided by <a href="https://crypto.news/learn/a-complete-guide-to-nfts/">NFT</a> Tech, Immutable X is the second most popular shape after Polygon. Palm and a few other shapes come in third and fourth place, respectively.</p>



<p>In addition, Polygon has been seeing expansion and a surge in the transaction volume on Polygon zkEVM, which has reached record highs. </p>



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<p>According to the statistics, a week-over-week gain in total value locked (TVL) was 70% more than the previous week, making it the most extraordinary surge since its debut. As of press time, Polygon’s TVL stood at $977.97 million.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="984" height="432" src="https://crypto.news/app/uploads/2023/05/image-48.png" alt="Polygon became the most widely used blockchain in 2023 - 1" class="wp-image-14157881"><figcaption class="wp-element-caption">Polygon TVL chart | Source: <a href="https://defillama.com/chain/Polygon?tvl=true" target="_blank" rel="noreferrer noopener">DeFiLlama</a></figcaption></figure>



<p>Additionally, the record for the most significant successful transaction volume in a single day was set on May 14 at more than 13,000. While transaction costs on other blockchains, such as <a href="https://crypto.news/price/bitcoin/">bitcoin&#8217;s</a>, increased in the thick of the meme currency craze, Polygon&#8217;s fees decreased even during the most significant activity time.&nbsp;</p>



<p>This is another noteworthy point to notice. In addition, the positive transaction data has increased the price of MATIC by 3.7% over the last twenty-four hours. At the time of publication, data from CoinMarketCap indicates that MATIC is trading at $0.8813.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="712" height="401" src="https://crypto.news/app/uploads/2023/05/image-49.png" alt="Polygon became the most widely used blockchain in 2023 - 2" class="wp-image-14157882"><figcaption class="wp-element-caption">Polygon 1-day chart | Source: <a href="https://coinmarketcap.com/currencies/polygon/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a></figcaption></figure>



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Polygon became the most widely used blockchain in 2023

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