Polygon overtakes Ethereum in active addresses after 330% surge

The number of daily active unique addresses on layer two protocol Polygon has surpassed those on the high fee layer one Ethereum.

Polygon overtakes Ethereum in active addresses after 330% surge

Mihailo Bjelic, The co-founder of Polygon, shared on Twitter that Polygon had 351,000 daily active addresses on Sept. 27 whereas Ethereum had 326,000.

According to Polygonscan, the number of active addresses skyrocketed on Sept. 20, hitting a peak of 426,586 on the 27th before falling back slightly to 385,740. Etherscan is reporting that Ethereum’s daily active address count was 457,402 on Sept. 29 so the two are pretty evenly matched at the moment.

The number of active addresses on Polygon has surged 330% over the past 3 months whereas Ethereum’s have actually declined by 12% for the same metric over the same period.

In terms of cumulative unique addresses, Ethereum is way ahead with 170.8 million as of Sept. 29 according to Etherscan, while Polygon had 89 million total district addresses yesterday. However, Matic only rebranded to Polygon and launched in February so its growth has occurred over a shorter period of time.

Polygon has a greater number of transactions at present according to Polygonscan with 5.7 million total transactions recorded for Sept. 29 compared to 1.1 million on Ethereum layer one. This can largely be attributed to Ethereum’s high fees which have increased again recently.

As being a most popular Ethereum scaling solution, Polygon received a massive endorsement in May when billionaire investor Mark Cuban added it to his portfolio. Its native token, which is still called MATIC, has gained 5.2% over the past 24 hours to reach $1.14 according to CoinGecko.

Read: Bitfinex paid a $23M fee by mistake to send $100K of USDT

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