|

Polygon breaks records in on-chain activity, promises NFT accessibility through low gas fees

  • Integration of the succinct blockchain Mina Protocol brings added security and privacy to smart contract applications built on Polygon Network.
  • World's largest peer-to-peer marketplace OpenSea has more Polygon users than on Ethereum layer 1. 
  • 77% of OpenSea's Polygon NFT sales in August were for $100 or less, the layer 2 scaling solution promises NFT accessibility for retail traders.

Polygon has announced a merge with zero-knowledge proofs protocol Mina Protocol through a bridge. Guaranteeing privacy to users becomes increasingly essential with the security challenges faced by NFT collectors, and Polygon is taking steps to enhance privacy in its ecosystem. 

Polygon users break records on OpenSea, makes NFTs accessible to all

Mina Protocol, better known as the cryptocurrency industry’s “smallest blockchain” operates on 22kb of data. The protocol’s lightweight blockchain provides fast sync speeds and easy setup, with no additional requirements for hardware to maintain the network. 

Ethereum’s layer-two scaling solution, Polygon has announced a merge with Mina Protocol through a bridge and together the two are set to offer enhanced privacy to smart contract applications built on Polygon. 

The crux of the merge is that applications like Mina Protocol offer Polygon network contracts to keep features like an owner’s identity or sensitive Know Your Customer (KYC) information hidden from different parties. 

Sandeep Nailwal, co-founder of Polygon, said,

Building a bridge between Polygon and Mina is an important step toward achieving our shared vision of a fully decentralized ecosystem of dApps that keeps users in control of their data.

Polygon’s users and on-chain activity has increased consistently over the past few months. The network’s native asset MATIC has hit a new all-time high in daily active users (DAUs). 

176,012 users transacted a total of $6.08 million on Polygon. @RaphaelSignal, a MATIC and DeFi analyst on crypto Twitter, has shared an engagement and monetization analysis of the record-breaking on-chain activity on Polygon.

With several updates in 0xPolygon ecosystem, it is a lesser known fact that OpenSea is fully integrated with the network’s Proof-of-Stake (POS) chain. The number of Polygon users on the marketplace exceeds Ethereum layer 1. 

190,000 wallets have transacted in Polygon on OpenSea. @NiftyTable, an NFT data analyst, shared his findings in a thread on crypto Twitter. 

According to @NiftyTable, 77% of Polygon NFT sales in August accounted for $100 or less. This implies that the layer-2 scaling solution has boosted NFT accessibility for traders and collectors, offering reduced gas fees.

With bullish developments in the Polygon ecosystem, analysts expect MATIC to continue its upward climb. 

FXStreet analysts have predicted a 90% upswing in the altcoin’s price, as they evaluated where the altcoin is heading next.

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Injective token surges over 13% following the approval of the mainnet upgrade proposal

Injective price rallies over 13% on Thursday after the network confirmed the approval of its IIP-619 proposal. The green light for the mainnet upgrade has boosted traders’ sentiment, as the upgrade aims to scale Injective’s real-time Ethereum Virtual Machine architecture and enhance its capabilities to support next-generation payments.

Solana Price Forecast: SOL slips below $82 as hawkish Fed tone sparks risk-off sentiment

Solana is trading below $82 at the time of writing on Thursday after failing to break out of the upper consolidation range over the weekend. The Minutes from the Federal Open Market Committee on Wednesday kept interest rates unchanged, but a less dovish tone that followed dampened risk appetite and pressured risky assets.

Warren warns crypto bailout would enrich Trump family biz: Report

Senate Banking Committee ranking member Elizabeth Warren has reportedly sent a letter to Treasury Secretary Scott Bessent and Federal Reserve chair Jerome Powell, urging them not to bail out “cryptocurrency billionaires” with taxpayer dollars. 

Top Crypto Gainers: World Liberty Financial, Sky, and Cosmos confront major resistance

World Liberty Financial, Sky, and Cosmos rank among the top gainers over the last 24 hours but face critical overhead resistance levels. WLFI gained momentum at the World Liberty Forum, an invite-only conference held at Mar-a-Lago by US President Donald Trump’s family, while SKY and ATOM reversed off a crucial support level. 

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: BTC bears aren’t done yet

Bitcoin (BTC) price slips below $67,000 at the time of writing on Friday, remaining under pressure and extending losses of nearly 5% so far this week.