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Polygon hits 37,000 dApps, up 400% this year

The number of decentralized applications (DApps) on the Ethereum scaling platform Polygon has reached 37,000, marking a 400% increase since the beginning of 2022.

Team Polygon shared the figures via an August 10 blog post, pulled from partner Web3 development platform Alchemy, noting that the number represents the cumulative number of applications ever launched. run on both testnet and mainnet.

They also note that the number of monthly active pools — a measure of developer activity on the blockchain — reached 11,800 at the end of July, up 47.5% from March.

The project team also highlighted the analysis of dApp projects, which notably showed that “74% of projects are integrated exclusively on Polygon, while 26% are deployed on both Polygon and Ethereum.”

Polygon’s EVM-compatible Proof-of-stake (PoS) blockchain hosts dApps from a long list of prominent projects and brands in the crypto space, such as NFT marketplace OpenSea, Decentraland and The Sandbox, DeF Aave lending platform, and Animoca Brands venture capital fund.

The blog post states that dApp usage on Polygon has seen over “142 million unique user addresses and $5 billion in secured assets” with around 1.6 billion transactions processed on the blockchain. network so far.

Polygon CEO Ryan Wyatt is pleased with this growth:

Back in the same period last year, Polygon entered into a partnership with Alchemy in an effort to address and mitigate network-level issues. This is considered the main driving force behind many dApps choosing this blockchain as a destination in the past year.

“Polygon’s partnership with Alchemy in June 2021 has been a powerful catalyst that has brought the number of dApps from 3,000 (October), 7,000 (January) to 19,000 to date,” the post reads. access.

Along with the market movement that is showing signs of recovery and is expected to increase again by the end of the year, MATIC has increased by 66.3% in the past month and is priced at $0.92 at press time. The current market capitalization of $6.9 billion has made MATIC the 16th largest coin in the crypto space.