Etheruem’s Layer 2 scaling answer Polygon has been witnessing heavy on-chain exercise over the past week and so. Not too long ago, the NFT play-to-earn sport Sunflower Farmers has clogged the Polygon community amid excessive demand of the community.
The recognition of this NFT sport accounts for fuel consumption of a staggering 40%. The second account is simply consuming 3% fuel after it.
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Prior to now two days, Polygon community fuel charges have skyrocketed, even surpassing 700 gwei. The primary cause is the recognition of an NFT sport Sunflower. Its fuel consumption accounts for greater than 40%, whereas the second accounts for less than about 3%. pic.twitter.com/d9h0wCaa0A
— Wu Blockchain (@WuBlockchain) January 6, 2022
By the tip of December 2021, the Sunflower Video games has prompted the fuel price to extend by a staggering 16x on the Polygon blockchain community. The surge within the fuel price can be inflicting bother for sure DApps. For e.g. the NFT rental protocol – Double Protocol – has introduced suspending the discharge of alpha Go scheduled earlier in the present day.
Hello, Doublers!
As a result of congestion and dramatic improve within the fuel price of Polygon Community, we have now to delay the discharge of our Alpha Go initially scheduled for in the present day.
We’ll announce the brand new timeframe inside 24 hours.
Please keep tuned.
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— Double Protocol (@DoubleProtocol) January 5, 2022
NFT sport Sunflower Farmers incentivizes players thereby participating them in a fierce competitors to farm as many token rewards as attainable. Players obtain these SFF token rewards by means of sensible contracts. Thus, gamers are consistently concerned within the duties of planting and harvesting crops to obtain rewards. These earned tokens can be utilized for buying in-game NFTs in addition to paying for different advantages.
Because of this, gamers keen to get a higher share of the SFF tokens are leveraging excessive fuel charges thus ensuring that their transactions are accepted on Polygon. Nevertheless, regardless of the present surge, the Polygon fuel price remains to be very low-cost to Ethereum whereby one transaction prices anyplace between $50-$100.
Will MATIC Proceed With Its Value Rally?
Whereas the broader crypto market has been shifting sideways, Polygon’s native crypto MATIC has carried out very well! Final week, the MATIC value surged to its all-time excessive of $2.87. nevertheless, since then it has been shifting sideways and hammered throughout in the present day’s market crash.
As of press time, Polygon (MATIC) is presently buying and selling at its 50-day SMA common of $2.14. If MATIC manages to reverse the development from right here, we will count on a fast 15% achieve in brief time period.