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Polygon Network Gas Fee Skyrockets Amid Heavy NFT Gaming, will MATIC Rally Continue? By BTC Peers

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Polygon Network Gas Fee Skyrockets amid Heavy NFT Gaming. Will MATIC Rally Keep Going?

Over the last week, Ethereum’s Layer 2 scaling solution, Polygon, has witnessed heavy on-chain activity. Although there is a high demand for Polygon’s Layer 2 scaling solution, Polygon, recent on-chain activity has seen a surge in NFT-play-to-earn games Sunflower Farmers.

The NFT games account for 40% and 3% respectively of the gas consumed. The Sunflower Games led to a 16x increase in gas fees on the Polygon blockchain network as of December 20, 21. This has caused problems for some DApps. In the wee hours of this morning, NFT Rental Protocol-Double Protocol announced that it would not release alpha Pass.

Sunflower Farmers is an NFT game where gamers are rewarded. This instills in them the spirit of competition to produce token rewards. These rewards are obtained through smart contracts. To receive the rewards, players must plant and harvest crops. These tokens earned can also be used in-game to buy NFTs or other benefits.

You can also read: Meta Super League brings true competition to the Metaverse

Players who want to have a greater share of SFF tokens use the high gas fees as leverage in order to get their transactions accepted on Polygon. Even with the increase in transactions, Polygon’s gas fee is still very affordable. One transaction costs between $50 to $100.

Is MATIC going to continue with its price rally?

Polygon’s native crypto MATIC has performed excellently compared to the broader crypto market moving sideways. The MATIC price reached its highest level of $2.87 in the week prior. But, the MATIC price has been beaten down by today’s market crash.

Polygon (MATIC), currently trades at the 50-day SMA median of $2.14 as of press. MATIC can reverse trend in an instance, which could lead to a 15 percent gain.

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