Polygon zkEVM logs 11 million transactions, but there is a problem

Polygon zkEVM recently achieved 11 million transactions and 671k unique addresses, indicating high adoption. This surge was possibly due to a significant drop in average gas prices, attracting more users. However, compared to rivals like zkSync Era, zkEVM's daily active addresses and transactions are much lower, with zkSync Era boasting 256k daily active addresses against zkEVM’s 2.9k on a specific day.

Despite the transaction milestone, there's a decrease in network activity and revenue for zkEVM since May. In contrast, MATIC, the associated cryptocurrency, saw a price increase of over 5% in the last week, with its market cap reaching $7.2 billion. However, only 14% of MATIC investors were in profit, suggesting challenges still lie ahead for the platform and its investors.