Polygon witnesses GameFi growth, but will lurking bears impede MATIC’s rise

ambcrypto.com:

Polygon [MATIC] registered a slight increase in daily active addresses over the last 30 days. The growth can be attributed to the much-anticipated zkEVM mainnet launch, which helped attract more users to the network. 

Source: Token Terminal

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However, despite increased users, the network’s fees and revenue declined over the last few weeks. The network’s troubles did not end here, as its zkEVM status also showed concerning signs. 

After a comfortable launch, zkEVM’s growth seemed to have stopped at press time, as evident from Dune’s data. As per the charts, unique depositors on zkEVM have registered a decline. A similar downtrend was also seen in the daily inflow by tokens.  

Source: Dune

A look at Santiment’s chart pointed out quite a few other concerning metrics, which could bring more trouble for Polygon in the days to come. For example, Polygon’s development activity declined sharply last week, indicating fewer efforts by developers to improve the network.

MATIC ’s weighted sentiments also declined, reflecting less confidence from investors.

Source: Santiment

Despite the negatives, it was interesting to see growth in Polygon’s GameFi network. The League of Kingdom chose Polygon for their much-awaited Drago update. This could help propel user growth on Polygon, which could, in turn, cause a spike in revenue in the coming months.