- Polygon saw the largest growth, with a 1,019% increase in new addresses over the last 30 days.
- Wrapped Ether (WETH) on grew by 263%, while LayerZero on Optimism and Arbitrum also showed gains.
- Stablecoins such as USD Coin and Tether experienced constant growth across platforms.
Several cryptocurrency networks have grown over the last 30 days, with notable increases in the number of new addresses. Leading the charge is the Polygon Ecosystem, followed by other key players such as Wrapped Ether (WETH) on Polygon, LayerZero on Optimism and Arbitrum, and USD Coin on multiple platforms.
Polygon Ecosystem Leads with Over 1,000% Growth
A recent report by Santiment indicates that the Polygon Ecosystem saw an exceptional surge, with new addresses increasing by 1,019%. This sharp rise places Polygon at the top of the list for network growth, as noted via the X Space.
📈 The top networks in crypto by network growth over the past 30 days include:
1) Polygon Ecosystem $POL (+1,019% More New Addresses) 🥇
2) WETH (On Polygon) $WETH (+263%) 🥈
3) LayerZero (On Optimism) $ZRO (+254%) 🥉
4) LayerZero (On Arbitrum) $ZRO (+219%)
5) USD Coin (On… pic.twitter.com/QaWGDNM0tJ— Santiment (@santimentfeed) September 25, 2024
Polygon’s scalability and lower transaction costs have likely contributed to the expansion as developers and users continue to embrace its ecosystem for decentralized applications and token exchanges. With such a leap in network growth, Polygon’s ecosystem continues to gain traction.
WETH on Polygon and LayerZero Show Impressive Gains
Following Polygon, Wrapped Ether (WETH) on the same platform experienced a notable increase of 263% in new addresses. WETH, which enables users to exchange Ether on the Polygon network, has become a popular tool for liquidity and decentralized finance (DeFi) operations.
Additionally, LayerZero, an omnichain interoperability protocol, saw strong growth on both Optimism and Arbitrum. LayerZero’s presence on Optimism grew by 254%, while on Arbitrum, it saw a 219% rise in new addresses.
Stablecoins and DeFi Tokens Make the List
StablecoinsUSD Coin (USDC) and Tether (USDT), which increased value across multiple blockchains. USDC on polygon has risen by 171% while on arbitrum it has risen by 125%.
Likewise, Tether (USDT) on Arbitrum increased by 119%. These trading and liquidity-focused stablecoins keep on experiencing increased demand in Layer 2 platforms, such as Arbitrum or Polygon.
Other tokens which also featured in the list included; CAKE of PancakeSwapwhich was up by 150% and FRAX on Polygon up by 129%. The following DeFi tokens still record increasing engagement indicating the constant growth of decentralized finance on different protocols.