- The Polygon ecosystem is experiencing massive growth, as the adoption of Polygon gaming rises to meteoric levels.
- MATIC is poised to benefit from Polygon’s growing gaming ecosystem, despite the continuous price decline over the last few weeks.
According to data from Dune analytics, Polygon gaming is on the rise. Data from the blockchain analytics tool revealed that the Polygon gaming ecosystem is growing rapidly. The market has not only seen an increase in unique addresses, an upsurge in transactions, as well as a spike in unique addresses in gaming dApps.
In a similar manner, data from DappRadar shows that the entire Polygon network is benefiting greatly from the rise in gaming activities. More specifically, some of the 5 leading dApps outperformed within the Polygon network, emerging from the gaming space. Particularly, Pandra War, Sunflower Land, and Planet IX emerged as three of the leading dApps in the Polygon ecosystem, over the last 24 hours.
In a bid to strengthen its dominance in the gaming space, Immutable recently struck a major deal with Polygon Labs, with the goal of enhancing its gaming capabilities. Along with the partnership, was the launch of Immutable zkEVM.
“Immutable zkEVM is the gold standard of gaming on Ethereum. Immutable zkEVM is the first of its kind – a dedicated chain for games that offers EVM compatibility, low cost, massive scale, and enterprise-grade security!” Immutable wrote in a recent post shared on X.
https://x.com/immutable/status/1692702618529714630?s=46&t=qzsvHvtDB3yjTaoaylh-2g
How will MATIC benefit from Polygon’s growing gaming ecosystem?
MATIC adoption is likely to increase, as Polygon Gaming gains popularity. Blockchain networks have historically seen any asset tied to it increase, as it becomes widely used. Although blockchains have no direct influence and impact on the tokens connected to them, their presence in the market can add fundamental value to the tokens tied to them.
MATIC, for example, is likely to record an upsurge in adoption, particularly from Polygon users who discover the asset from gaming. On the other hand, institutional investors looking to profit from the Polygon network, are likely to throw their weight behind MATIC as Polygon’s network usage skyrockets.
Should this be the case, MATIC might outperform other rival assets in the long term, and potentially hit new price levels. However, at present, MATIC, like a handful of other altcoins, has been on a continued price decline.
The new week kicked off with some altcoins migrating back into the green zone. But the likes of MATIC, are having a rather slow recovery.
MATIC is currently in the red zone, as it trades at a press time price of $0.57. The altcoin has managed to sustain its position as the 13th most valuable asset by market cap, right above Shiba Inu. MATIC has sustained mild losses over the last 24 hours, and lost more than 14% of its value over the last week, despite trading volume soaring by more than 10% within the same timeframe.
