Polygon simply ended the second quarter of 2026 with 743 million transactions, a 160% year-over-year improve and a brand new all-time report for the community.
This information was confirmed by Blockworks and Polygon workforce members Abhinav Sharma Within the early hours of immediately.
Fee infrastructure drives numbers
This milestone culminates a profitable quarter for Polygon after aggressively positioning itself because the infrastructure for stablecoin funds. Polygon processed $79.25 billion In Might alone, stablecoin switch quantity elevated by 198 million stablecoin transactions, making it primary amongst all blockchains by way of variety of stablecoin transactions.
This determine additionally marks the chain’s second-highest month-to-month stablecoin transaction quantity, surpassing each Solana and BNB chains throughout the identical interval.
Polygon’s excessive demand signifies a deliberate shift in direction of real-world fee settlement. The typical charge on this community is round $0.002 per transaction, and the affirmation time is round 2 seconds. As such, the cumulative switch quantity of stablecoins on its chain is at present over $2.4 trillion over its lifetime.
Cross-border funds additionally contributed to this whole. Early this morning, Polygon formally introduced Credible Finance stated it has processed greater than $152 million in funds in america, India, Brazil, and Germany.
The community additionally processed $309 million in Latin American stablecoin buying and selling quantity in Might, primarily serving a area the place dollar-denominated tokens act as a hedge in opposition to risky native currencies.
Polygon can be constructing devoted fee rails to help its technique. One in all them is the so-called open cash stacka framework that permits funds in a recipient’s native forex from a single stablecoin steadiness by financial institution deposits, money pickups, or cryptocurrency transfers.
On-chain exercise shouldn’t be pulling tokens
Surprisingly, Polygon’s report buying and selling quantity has not but translated into direct earnings for the community’s native token POL. In accordance with coin market capthe token is buying and selling round $0.073, down over 94% from its all-time excessive of $1.29 in March 2024. The token market capitalization reaches roughly $779 million.
Nonetheless, a disconnect between utilization and value shouldn’t be new. A number of high-transaction networks have recorded report exercise this yr and not using a corresponding improve in token costs.
For instance, Tron and Ethereum nonetheless have the biggest stablecoin balances, however extra specialised fee chains proceed to compete for a similar market share.
What does the DeFi and dApp ecosystem present?
Defilama information exhibits that the full quantity of Polygon locked in DeFi protocols is roughly $916 million, with $3.38 billion in stablecoins circulating on-chain. As of this writing, there are practically 554,000 day by day lively addresses and the community processes roughly 7.5 million transactions per day. Polymarket, a prediction market platform, accounts for the biggest single share of Polygon’s DeFi TVL at $391 million.
Regardless of this, Polygon has achieved over 7 billion lifetime transactions and maintains 99.99% uptime, however what everyone seems to be watching is whether or not this excessive quantity of transactions will finally result in increased token costs.
