CandleFocus

Polygon Leads Crypto Network Growth, New Addresses Surge Over 1,000%

The cryptocurrency networks that have experienced significant growth in the last 30 days include Polygon Ecosystem, Wrapped Ether (WETH) on Polygon, LayerZero on Optimism and Arbitrum, and USD Coin on multiple platforms. The Polygon Ecosystem saw an exceptional surge with a 1,019% increase in new addresses, making it the top network in terms of growth. Polygon's scalability and lower transaction costs have contributed to this expansion. Wrapped Ether on Polygon also saw a notable increase of 263% in new addresses, becoming a popular tool for liquidity and decentralized finance operations. LayerZero experienced strong growth on Optimism and Arbitrum, with a 254% and 219% increase in new addresses, respectively. Stablecoins such as USD Coin and Tether also saw increased value across multiple blockchains, particularly on platforms like Arbitrum and Polygon. Other tokens like CAKE of PancakeSwap and FRAX on Polygon also experienced growing engagement, highlighting the constant growth of decentralized finance on different protocols.

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