Reporter
- The Polygon zkEVM just recently reached 7 million overall deals.
- MATIC was on a three-day successive uptrend as it traded around $0.6.
On 4 November, Mihailo Bjelic, among the co-founders of Polygon [MATIC]revealed the zkEVM’s deal turning point of 7 million. This represented a considerable turning point for the network, particularly as it is getting ready for the next variation.
7M deals; every one shown by the most sophisticated zk tech in the market and confirmed on Ethereum.
Stunning. Now let’s ramp it up. https://t.co/WD8B1oRKGq
— Mihailo Bjelic (@MihailoBjelic) November 4, 2023
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Polygon zkEVM strikes 7 million deals
AMBCrypto’s analysis of the Polygon zkEVM scanner exposed a current boost in day-to-day deals. It revealed that journalism time everyday deal volume reached levels not observed in over 2 months.
At the time of this upgrade, the day-to-day deal count was over 64,000. As of this writing, the number of deals had actually crossed 7 million.
Source: zkEVM Polygonscan
Polygon zkEVM TVL continues to increase
An analysis of the Total Value Locked (TVL) on the Polygon zkEVM has actually suggested a visible boost. At the time of this report, the TVL was over $73 million. This marked a remarkable development of more than 11%, based on information sourced from L2 Beats.
It is very important to keep in mind that the TVL represented less than 1% of the total market share of Layer 2.
On the other hand, the TVL on the mainnet has actually not displayed a comparable upward pattern. AMBCrypto’s evaluation of TVL information from DefiLlama showed that it had actually stayed fairly steady. Since the current offered information, the TVL on the mainnet was around $780 million.
An auto-MATIC pattern
Even as the conversion to POL remained in development, MATIC stayed actively traded at the time of publication. AMBCrypto’s analysis of the everyday timeframe chart exposed that MATIC had actually seen a significant upward cost motion over the previous couple of days.
At the time of this upgrade, it was trading at around $0.6, showing a modest earnings of less than 1%.
Source: TradingView
Reasonable or not, here’s MATIC’s market cap in BTC’s terms
This uptrend marked the 3rd successive day of favorable cost motion. It is notable to discuss that these successive uptrends were pressing the property towards the overbought zone at the time of composing.
The Relative Strength Index (RSI) line was on the edge of crossing above 70, suggesting possible overbought conditions. In addition, the Moving Average Convergence Divergence (MACD) was trending above the absolutely no line.
