Polygon, a popular blockchain network, recently achieved a significant milestone with its zkEVM platform. Despite this accomplishment, there is still room for improvement to compete with other EVMs in the market such as Starknet and zkEVM.

According to reports, zkEVM successfully completed 11 million transactions, indicating a high level of adoption with 671k unique addresses. The platform saw a surge in transactions due to a sharp decline in average gas prices in recent weeks, attracting more users.

However, zkEVM faced a setback in network activity in May, with daily active addresses declining. This decline also affected the daily transaction count and revenue for the platform, raising concerns about its performance.

When compared to other EVMs like zkSync Era, zkEVM’s performance may appear less impressive. zkSync Era had a higher number of daily active addresses and transactions, as well as higher revenue and TVL than zkEVM.

Despite these challenges, MATIC, an altcoin associated with Polygon, experienced a bullish trend following the milestone achievement. MATIC’s price has appreciated by over 5% in the last 7 days, with a market capitalization exceeding $7.2 billion, making it the 18th largest cryptocurrency in the market.

While there has been a positive uptick in price and sentiment for MATIC, data analysis suggests that only 14% of investors were in profit at the time of assessment. This indicates that there is still progress to be made for MATIC and its community of holders.