Report Shows Growth In Multiple Ethereum Layer 2 Networks; Polygon Leads The Pack

The importance of Layer 2 solutions is becoming much more glaring as web3 adoption continues to grow paving a way for developers to launch without compromising speed for scalability.

Timeline of , Polygon, Optimism-ethereum

Following a significant surge in daily transactions on the layer 2 network, Optimism has seen a 70% decline in daily transaction count since the conclusion of its Optimism Quests program.

Over the last few months, there were several upsetting news stories that negatively affected the crypto industry, notably the FTX crash. However, despite this, long-term sentiments towards Polygon [MATIC] increased in recent months.

Solana (SOL) has been the most performing digital asset in the top 15 this year by market capitalization and no one saw it coming following a poor run and a disastrous end of 2022.

Any Polygon-based NFT group will have access to the new self-service tool, enabling them to construct their own individualized markets and engage with their communities at no cost.

As a follow-up to its hardfork recent success, Polygon [MATIC] followed through by announcing a new partnership with BitGo. BitGo is a platform for providing core infrastructure and regulatory custody for crypto projects.

Popular NFT marketplace and protocol Rarible launched its NFT marketplace builder for Polygon-based NFT collections on January 18. Any Polygon-based NFT collection will be able to use the new self-serve tool to build their own customized marketplaces for free to connect with their communities.

Alethea AI and Polygon Labs are jumping on the AI hype with the launch of an AI-powered NFT project that allows users to create NFT avatars through text-based prompts similar to OpenAi's Dall-E image generator.

BitGo has announced the rollout of its polygon wallet and custody services for native MATIC token holders. BitGo users will now be able to securely stake their ERC-20 MATIC tokens on the platform and earn rewards.

Despite Optimism [OP] having the first mover advantage in the Layer 2 solutions space, newer solutions such as Arbitrum have outperformed the former in terms of Total Value Locked (TVL).

NFT marketplace Rarible has expanded its marketplace builder to include Polygon-based NFT collections. The move comes amidst growing interest in Polygon for NFTs and other gaming projects.