The Polygon network continues to make waves as it just recorded a new ATH in daily transaction volumes of 7.4 million, which means that it has surpassed the numbers registered by Ethereum and Binance Smart Chain.
Polygon, which hosts a small DeFi application ecosystem, is enjoying constant and organic growth as a result of the fact that most of the DeFi has already been tested on Ethereum. The problems that the Ethereum network continues to struggle with, such as increasing gas fees and network congestion, have made many turn to other DeFi players, such as Polygon and Binance Smart Chain.
Some of the most important DeFi apps, such as Sushiswap, Uniswap, Aave, and Curve, are part of the Polygon network.
Aave, especially, is enjoying steady growth on the Polygon network, as the average user is making around 5 transactions per day.
Colin Wu, a Chinese journalist, declared:
“The peak period of transactions from Aave exceeds 25%. The current total lock-up value TVL of Polygon network is about 10.4 billion U.S. dollars, and Aave’s total lock-up value TVL is close to 8.2 billion U.S. dollars.”