{"id":221150,"date":"2023-12-30T10:46:11","date_gmt":"2023-12-30T05:16:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=221150"},"modified":"2023-12-30T10:46:11","modified_gmt":"2023-12-30T05:16:11","slug":"polygon-zkevm-sees-a-dramatic-rise-in-dex-volumes-why-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polygon-zkevm-sees-a-dramatic-rise-in-dex-volumes-why-crypto-news\/","title":{"rendered":"Polygon zkEVM sees a dramatic rise in DEX volumes &#8211; Why? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/IMG_8161-e1689231545886-80x80.jpg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/div>\n<p>\n<span class=\"mvp-post-date updated\">Posted: December 30, 2023<br \/>\n<\/span><\/p>\n<\/div>\n<div>\n<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li><em>This comes two weeks after Chainlink\u2019s integration with Polygon zkEVM.<\/em><\/li>\n<li><em>Polygon zkEVM\u2019s daily active addresses jumped 51% over the last week.<\/em><\/li>\n<\/ul>\n<p>L2 scaling solution\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/POLYGON\" data-wpel-link=\"internal\">Polygon [MATIC]<\/a> zkEVM saw its decentralized exchange (DEX) volumes soar by nearly 200% over the last month, reflecting increased preference for projects housed on the network.<\/p>\n<p>According to AMBCrypto\u2019s analysis of Artemis\u2019 data, trades worth $2.89 million were settled on the network on the 27th of December, the highest since the peak of $3.76 million attained on 14th November.<\/p>\n<p>In fact, over the last seven days, DEX volumes have averaged 1.84 million.<\/p>\n<div id=\"attachment_361211\" style=\"width: 554px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Polygon-zkEVM-1.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361211\" class=\"size-full wp-image-361211\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"544\" height=\"407\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Polygon-zkEVM-1.jpg 544w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Polygon-zkEVM-1-300x224.jpg 300w\" data-lazy-sizes=\"(max-width: 544px) 100vw, 544px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Polygon-zkEVM-1.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361211\" class=\"size-full wp-image-361211\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/Polygon-zkEVM-1.jpg\" alt=\"\" width=\"544\" height=\"407\" \/><\/a><\/p>\n<p id=\"caption-attachment-361211\" class=\"wp-caption-text\">Source: Artemis<\/p>\n<\/div>\n<p>While these numbers paled in comparison to DEX activity on other L2 chains, the sharp growth grabbed the attention of industry watchers.<\/p>\n<h4><strong>Chainlink\u2019s integration the reason?<\/strong><\/h4>\n<p>These developments come on the heels of decentralized oracle network <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/chainlink\" data-wpel-link=\"internal\">Chainlink\u2019s [LINK]<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/polygon-matic-killer-retik-finance-retik-raises-1-million-in-just-9-days\/\" data-wpel-link=\"internal\">integration<\/a> with the zero-knowledge scaling solution.<\/p>\n<p>As part of the agreement, DeFi developers on Polygon zkEVM would have access to Chainlink\u2019s real-time price feeds. This was expected to power the development of decentralized exchanges, liquidity protocols, and other projects on the chain.<\/p>\n<p>As is well known, Chainlink is an oracle network that feeds real-world data to blockchain-based smart contracts.<\/p>\n<p>While there is no conclusive evidence to link the current upsurge in DEX volumes to this development, the possibility of the same remained high.<\/p>\n<h4><strong>Polygon zkEVM sees 51% jump in users<\/strong><\/h4>\n<p>The explosion in Polygon\u2019s DEX activity caused an uptick in on-chain activity as well. The daily active addresses jumped 51% over the last week, AMBCrypto detected using Artemis\u2019 data.<\/p>\n<p>Moreover, daily transaction on network climbed 22% since last week. On the 26th of December, more than 31k transactions were processed on the scaling solution, highest in nearly a month.<\/p>\n<div id=\"attachment_361235\" style=\"width: 1118px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361235\" class=\"wp-image-361235 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1108\" height=\"475\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic.jpg 1108w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic-300x129.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic-1024x439.jpg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic-768x329.jpg 768w\" data-lazy-sizes=\"(max-width: 1108px) 100vw, 1108px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic.jpg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-361235\" class=\"wp-image-361235 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/12\/On-chain-traffic.jpg\" alt=\"\" width=\"1108\" height=\"475\" \/><\/a><\/p>\n<p id=\"caption-attachment-361235\" class=\"wp-caption-text\">Source: Artemis<\/p>\n<\/div>\n<p>Meanwhile, Polygon ecosystem\u2019s native token MATIC pulled back 2.32% in the last 24 hours, as some weak hands decided to lock in gains, data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" data-wpel-link=\"external\">CoinMarketCap<\/a> showed.<\/p>\n<p>However, this wasn\u2019t before an excellent period in December during which the returns on the coin grew by 33%. As of this writing, MATIC was exchanging hands at $1.01.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" data-wpel-link=\"internal\">MATIC\u2019s Price Prediction<\/a>\u00a02023-2024<\/p>\n<hr \/>\n<p style=\"text-align: left\">Note that as part of the upcoming Polygon 2.0 mission, MATIC would be upgraded to a more versatile utility token POL.<\/p>\n<p style=\"text-align: left\">In a recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/TodayInPolygon\/status\/1740084789900628241?s=20\" data-wpel-link=\"external\">interview<\/a>, Polygon Labs CEO Marc Boiron touched down on the motivation behind the upgrade.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: December 30, 2023 This comes two weeks after Chainlink\u2019s integration with Polygon zkEVM. Polygon zkEVM\u2019s daily active addresses jumped 51% over the last week. L2 scaling solution\u00a0Polygon [MATIC] zkEVM saw its decentralized exchange (DEX) volumes soar by nearly 200% over the last month, reflecting increased preference for projects housed on the network. According [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":221151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-221150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=221150"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221150\/revisions"}],"predecessor-version":[{"id":221157,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/221150\/revisions\/221157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/221151"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=221150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=221150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=221150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}