Polygon Network Gas Fee Skyrockets In the midst of heavy NFT games, will MATIC Rally continue?
Over the past week, Ethereum’s second layer scaling solution, Polygon, has seen heavy activity on the chain. However, despite the high demand on Polygon Network, in recent times NFT Play-to-win Sunflower Farmers has mobilized this network.
This NFT game accounts for 40% of gas consumption, the second consumes only 3% of gas. As of the end of December 2021, Sunflower Games have increased gas fees by a massive 16-fold on the Polygon blockchain network. The increase has caused problems for some DApps. For example, in the early hours of the day, the dual-protocol rental protocol NFT announced the postponement of the alpha Pass release.
Sunflower Farmers from NFT rewards players, imbuing them with competitive fervor for many token rewards. Players get these rewards through smart contracts. Thus, players are constantly given the responsibility of growing and harvesting crops to obtain these rewards. In addition, these earned tokens can be used to purchase NFTs within the game and pay other benefits.
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Then, players aiming for a larger stake in SFF tokens use high gas fees as leverage to ensure that their transactions are accepted on Polygon. However, despite the increase, Polygon’s gas fee is still cheap, with a single transaction ranging from $50 to $100.
Will Matic continue to increase its prices?
Polygon’s native cryptocurrency MATIC has performed excellently compared to the broader crypto market that is moving sideways. Last week, MATIC price rose to an all-time high of $2.87. However, after that, it moved sideways and took a beating during today’s market crash.
As of press time, Polygon (MATIC) is currently trading at the 50-day average SMA of $2.14. In the case where MATIC reverses the trend, one can expect a quick 15% gain in the short term.
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