The number of Polygon Wallets on the Polygon network begin to decline. Polygon's performance in the DeFi sector wanes due to the underperformance of DEXs.
Additionally, the number of unique active wallets on the Polygon network took a massive plunge. According to Dune Analytics’ data, the number of active wallets on the network fell from 430,682 to 316,250 in the first 15 days of April.One reason for the same would be the decline in DEX volume on the Polygon network. As per Dune Analytics’ data, the overall DEX volume on Polygon dropped from $218 million to $45 million over the last three months.
One of the most popular DEX’s on the Polygon network, QuickSwap, witnessed a massive decline in terms of unique active wallets. The number of wallets on the platform fell by 23.64% over the last month. Subsequently, there was a decline of 25.89% in terms of volume, and a 26.74% decrease in the number of transactions., encountered significant challenges.
Over the last week, the unique active wallets on Balancer, along with the volume and transactions, also witnessed a fall.The persistent underperformance of DEXs on the Polygon network could potentially impact Polygon’s DeFi state in the long term.and new dApps being built on Polygon could soon capture a larger amount of the DeFi market share., which is an AMM could attract users to the Polygon network due to its technology.
Antfarm’s Band Rebalancing strategy involves high pool fees , capturing market volatility to optimize returns while reducing risk. Band rebalancing establishes upper and lower threshold bands for each pool, determined by pool fees, such that profits arise from market volatility rather than trading volume. Antfarm pools have managed to show consistent performance, unlike other popular DEXs.
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