Polygon ZKEVM lists growth, while ZKSync era collapses-Matic Prize moves in a tight range

Polygon ZKEVM lists growth, while ZKSync era collapses-Matic Prize moves in a tight range

Polygon ZKEVM recorded growth last week, while ZKSync era collapsed for the first time. According to the data from ZKEVM, the total value of the assets blocked on polygon increased by 2 %, while ZKSync ERA recorded a decline in the TVL by 12 %.

An on-chain analyst named Tom Wan found that the TVL from ZKSync ERA had maintained an upward trend last week. The sudden decline in the TVL was attributed to the deduction of 55,000 ETH (around $ 100 million) by a single gateio deposit address from the Layer 2 chain. WAN added that it was likely that many of the 1.12 million clear deposit addresses belong to the same entity.

Polygon ZKEVM was started on March 27 and has counted a total of 161,517 wallets since then. Interestingly, only 6 % of these wallets actively take transactions on the L2 platform. Nevertheless, the daily transactions carried out on polygon ZKEVM have recorded a steep increase since the beginning of June. This increase is probably due to the reduction of gas fees and the associated increase in use.

The price of Matic moved in a tight span in the last week and lost 1 % of its value in the last 24 hours. The momentum indicators relative strength index and money flow index indicate a downward trend and signal an increase in the Matic distribution. The Directional Movement Index also indicates an increasing Matic sale.

It remains to be seen how the development of polygon ZKEVM and Matic will shape in the coming weeks. There is still interest in the possibilities of Layer 2 solutions and the scalability of polygon. However, investors should keep an eye on the risks and volatility of the cryptoma market.