U.Today - Immutable, an infrastrucure provider and platform for building cryptocurrency games on Ethereum's L2s, shares the estimations of the effects of the trading volume rally. It started from the release of zkEVM-powered Supernet in March 2023.
Immutable (IMX) total trading volume surges from $250 million to $2.5 billion in four months, here's why
Since introducing Immutable zkEVM, a Polygon-based Supernet, the aggregated operations volume of gaming products of Immutable spiked by 10x. As per the estimations of the protocol's team, in recent weeks, it reached $2.5 billion for the fist time in its history.As such, for this metric took only four months. The mentioned announcement allowed Immutable to control a significant share of the thriving Web3 gaming segment:
At the same time, the Immutable team stressed that the total size of the gaming marketing segment by 2025 might reach $300 billion. Having said that, the product is still in its infancy when it comes to market adoption.
As covered by U.Today previously, in March 2023, the two partners introduced Immutable zkEVM, a high performance EVM-compatible tech and integrated seamlessly with the Immutable (IMX) platform.
After this announcement, the IMX price almost doubled in six days despite an aggressive bearish market.
Polygon zkEVM: What does it mean for Web3?
Polygon (MATIC) co-creator Sandeep Nailwal is impressed by the progress accomplished by Immutable and shows much optimism about the prospects of the Polygon-Immutable collaboration:Polygon zkEVM is the first viable realization of zkEVM, an EVM-equivalent rollup designed to scale Ethereum (ETH) in privacy-focused way. It advances the level of privacy of Ethereum (ETH) transactions and makes it more cost efficient.
Nailwal is sure that Polygon zkEVM can verify a transaction for just $0.000058. At the same time, the solution only spends 2.5 minutes to validate a batch of 250-500 transactions of Ethereum-based ERC-20 tokens.