Messari Crypto Published State of Polygon Q3

Messari Crypto published State of Polygon Q3. Polygon set an ATH with 6 million active addresses (66,000 DAUs). New addresses spiked 180% QoQ primarily driven by the launch of the Reddit NFT marketplace. Total unique addresses surpassed 170 million and total transactions surpassed 2 billion.

While the entire crypto market cap was relatively flat in Q3, Polygon’s Mcap was up 43% QoQ. The increase began in early July following the Disney incubator announcement, and continued with a slew of new partnerships including Acentrik, Reddit, Robinhood, and Starbucks.

The different sectors within Polygon yielded mixed results: DeFi was down 43% QoQ but overall, Polygon’s TVL has remained steady, despite the bear market and minimal liquidity mining incentives, and increased competition. The consistency suggests organic, sticky DeFi activity.