Flipside: Polygon's 2023 user count nearly reaches Ethereum's

According to Flipside, in 2023 the number of users of Polygon's second-tier solution exceeded 15 million and was almost equal to Ethereum.. Bitcoin has reached 10.65 million users.

Flipside analysts report that the Polygon network has 15.24 million users. This is 160,000 less than Ethereum, which is used by 15.4 million people. By Polygon user, Flipside experts understand a person who has made at least two transactions on the network under study, and at least one transaction was carried out in 2023.

Polygon was in the lead in the first half of last year, but then the palm branch of the championship went to the second cryptocurrency. Bitcoin took third place, and the top five also included Solana and Arbitrum.

“Polygon started 2023 extremely successfully — 2.8 million users were attracted, which is about 40% of all new users last year. Then the attraction rate began to decline significantly, although it still compared favorably with most other networks. In general, the influx of users has been recorded since March, after the fall of Silicon Valley Bank and a decrease in trust in centralized companies,” the researchers note.

As for the Base network, launched by the American exchange Coinbase, after its launch in August, this blockchain showed a noticeable influx of new users, but the trend decreased significantly by the end of 2023. Analysts expect that this network will perform well at the start of a new bull cycle, as Coinbase could become a “gateway” to the world of cryptocurrencies for many new users.

It was recently reported that the number of Web3 users has increased by 124% in 2023.