{"id":610948,"date":"2024-06-01T07:50:40","date_gmt":"2024-06-01T07:50:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=610948"},"modified":"2024-07-11T06:58:25","modified_gmt":"2024-07-11T06:58:25","slug":"matic-under-the-lens-why-is-polygon-busy-but-not-making-money","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/matic-under-the-lens-why-is-polygon-busy-but-not-making-money\/","title":{"rendered":"MATIC Under The Lens: Why Is Polygon Busy But Not Making Money?"},"content":{"rendered":"

Layer-2 scaling solution for the Ethereum blockchain Polygon (MATIC) finds itself in an interesting posture. Recent figures from Messari<\/a> show a network bursting with activity: daily active addresses rising almost 120%, new user sign-ups soaring by 70%, and daily transactions reaching a shockingly 4 million.<\/span> Benevolent undertone, though, lurks beneath this busy surface: a 19% loss in quarterly income from the prior quarter and a significant 40% drop year over year.<\/span><\/p>\n

Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets<\/a><\/div>\n

Polygon: A Network On Fire<\/strong><\/h2>\n

Polygon’s audience is obviously romantic.<\/span> A land rush occurred in the first quarter of 2024 as new addresses swarms the network at an unheard-of pace. Daily interactions on the platform quadrupled as user adoption translated into a transaction frenzy.
\n<\/span><\/p>\n

\"\"
Source: Messari<\/figcaption><\/figure>\n

With the total value locked (TVL) in DeFi projects rising 30% compared to the previous quarter, the decentralised finance (DeFi) industry on Polygon<\/a> also proved.<\/span> With sales volume almost 20%, the non-fungible token (NFT) ecosystem on Polygon also had a shot in the arm.
\n<\/span><\/p>\n

\"\"
MATIC price action in the last 24 hours. Source: CoinMarketCap<\/a><\/figcaption><\/figure>\n

The Revenue Riddle<\/strong><\/h2>\n

Why then, among the festive confetti, the long face?<\/span> Polygon’s declining income stream holds the key. The network’s coffers are suffering even if activity is growing exponentially.
\n<\/span><\/p>\n

The $7 million acquired in Q1 2024 is meagre compared to the $10 million and $12 million brought in during the previous quarter and the same period last year respectively.<\/span> This disparity between growing activity and declining income presents the million-dollar riddle that has economists perplexed.
\n<\/span><\/p>\n

<\/p>\n

MATIC market cap currently at $6.8 billion. Chart: TradingView.com<\/a><\/pre>\n
Fee Fiasco Or Funding Flux?<\/strong><\/h3>\n
Two key theories explain this income anomaly. The transaction fee arrangement of Polygon could be the first offender.<\/span> Maybe in an attempt to draw more users, the network reduced its rates to a level that, in spite of the significant rise in transactions, the total income generating suffered.
\n<\/span><\/p>\n
A change in Polygon’s funding sources presents still another possibility.<\/span> Perhaps income from a particular source\u2014such as grants or alliances\u2014that wasn’t sufficiently offset by expansion in other spheres dropped.
\n<\/span><\/p>\n
Related Reading: Can DEX Boom Save Cardano? ADA Seeks Recovery As Trading Activity Surges Christian Encila Christian Encila 22 hours ago 2 mins read<\/a><\/div>\n
What Lies Ahead<\/strong><\/h3>\n
Polygon finds a pivotal point.<\/span> Unquestionably, the network can draw users and build a thriving DeFi and NFT ecosystem.Its long-term viability may be in jeopardy, though, if it ignores the revenue puzzle. Transparency from Polygon about its charge policy and income sources will be absolutely essential in gaining investor confidence going forward.
\n<\/span><\/p>\n
Unlocking Polygon’s full financial potential might also depend on looking at other income sources, such premium services or strategic alliances.<\/p>\n
Featured image from Zameen.com, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Layer-2 scaling solution for the Ethereum blockchain Polygon (MATIC) finds itself in an interesting posture. Recent figures from Messari show a network bursting with activity: daily active addresses rising almost 120%, new user sign-ups soaring by 70%, and daily transactions reaching a shockingly 4 million. Benevolent undertone, though, lurks beneath this busy surface: a 19% loss in quarterly income from the prior quarter and a significant 40% drop year over year. Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets Polygon: A Network On Fire Polygon’s audience is obviously romantic. A land rush occurred in the first quarter of 2024 as new addresses swarms the network at an unheard-of pace. Daily interactions on the platform quadrupled as user adoption translated into a transaction frenzy. With the total value locked (TVL) in DeFi projects rising 30% compared to the previous quarter, the decentralised finance (DeFi) industry on Polygon also proved. With sales volume almost 20%, the non-fungible token (NFT) ecosystem on Polygon also had a shot in the arm. The Revenue Riddle Why then, among the festive confetti, the long face? Polygon’s declining income stream holds the key. The network’s coffers are suffering even if activity is growing exponentially. The $7 million acquired in Q1 2024 is meagre compared to the $10 million and $12 million brought in during the previous quarter and the same period last year respectively. This disparity between growing activity and declining income presents the million-dollar riddle that has economists perplexed. MATIC market cap currently at $6.8 billion. Chart: TradingView.com Fee Fiasco Or Funding Flux? Two key theories explain this income anomaly. The transaction fee arrangement of Polygon could be the first offender. Maybe in an attempt to draw more users, the network reduced its rates to a level that, in spite of the significant rise in transactions, the total income generating suffered. A change in Polygon’s funding sources presents still another possibility. Perhaps income from a particular source\u2014such as grants or alliances\u2014that wasn’t sufficiently offset by expansion in other spheres dropped. Related Reading: Can DEX Boom Save Cardano? ADA Seeks Recovery As Trading Activity Surges Christian Encila Christian Encila 22 hours ago 2 mins read What Lies Ahead Polygon finds a pivotal point. Unquestionably, the network can draw users and build a thriving DeFi and NFT ecosystem.Its long-term viability may be in jeopardy, though, if it ignores the revenue puzzle. Transparency from Polygon about its charge policy and income sources will be absolutely essential in gaining investor confidence going forward. Unlocking Polygon’s full financial potential might also depend on looking at other income sources, such premium services or strategic alliances. Featured image from Zameen.com, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":610966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,40670,83584],"class_list":["post-610948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-matic","tag-polygon"],"acf":[],"yoast_head":"\nWhy is Polygon Busy But Not Making Money?<\/title>\n<meta name=\"description\" content=\"Layer-2 scaling solution for the Ethereum blockchain Polygon (MATIC) finds itself in an interesting posture. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"MATIC Under The Lens: Why Is Polygon Busy But Not Making Money?","url":"http:\/\/uniquehot.com\/news\/matic-under-the-lens-why-is-polygon-busy-but-not-making-money\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/matic-under-the-lens-why-is-polygon-busy-but-not-making-money\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A.jpg?fit=1440%2C625"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto","matic","polygon"],"dateCreated":"2024-06-01T07:50:40Z","datePublished":"2024-06-01T07:50:40Z","dateModified":"2024-07-11T06:58:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"MATIC Under The Lens: Why Is Polygon Busy But Not Making Money?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic-under-the-lens-why-is-polygon-busy-but-not-making-money\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic-under-the-lens-why-is-polygon-busy-but-not-making-money\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/A.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/A.jpg?fit=1440%2C625\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto\",\"matic\",\"polygon\"],\"dateCreated\":\"2024-06-01T07:50:40Z\",\"datePublished\":\"2024-06-01T07:50:40Z\",\"dateModified\":\"2024-07-11T06:58:25Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/A.jpg?fit=1440%2C625","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/610948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=610948"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/610948\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/610966"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=610948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=610948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=610948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}