Article Details

Polygon Transactions Hit Two-Year High Driven by Polymarket Activity

TL;DR

• Polygon transactions climbed to levels last seen during the 2021 cycle, supported by sustained Polymarket usage and steady stablecoin flows.
• Daily activity moved above 6 million transactions, while weekly totals exceeded 40 million, reflecting consistent demand rather than short-lived spikes.
• Recent network upgrades that lifted throughput also contributed, reinforcing Polygon’s role as a settlement-focused layer with growing relevance in prediction markets and onchain payments.
  

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Polygon transactions have returned to a two-year high, pointing to renewed network relevance after an extended period of lower activity. The rebound reflects continued use by prediction markets and stablecoin transfers, rather than speculative surges linked to gaming or DeFi trends.

Polymarket Activity Lifts Polygon Transactions

Polygon transactions accelerated through late 2024 and into December, closely following the expansion of Polymarket. As large prediction markets settled and open interest reached elevated levels, onchain activity increased in parallel. On December 10, Polygon processed more than 8.1 million transactions in a single day, recovering roughly 50% of the activity lost earlier in 2025 when other application categories declined.

Unlike the 2021 cycle, when play-to-earn gaming dominated usage, the current recovery relies on a smaller set of applications with more consistent demand. Polymarket accounts for a significant share of transactions, largely through the use of Polygon-based USDC. This shift shows how the network now prioritizes frequent, low-cost settlements over experimental or high-risk use cases. Weekly transaction counts moved beyond 43 million, suggesting activity has stabilized rather than surged briefly.

Network Upgrades And Stablecoin Flows Support Growth

A recent protocol update increased Polygon’s transaction capacity by about 30%, raising throughput to around 1,400 transactions per second. The upgrade allowed higher volumes without visible congestion, aligning with Polygon’s positioning as an efficient settlement layer.

Stablecoins dominate the network’s onchain economy. Polygon holds roughly $2.8 billion in stablecoin liquidity, with USDC making up the majority. POL transfers and cross-chain settlements remain among the most common transaction types, while the Polygon zkEVM network shows limited activity compared with the proof-of-stake chain. In parallel, peer-to-peer stablecoin transfers have increased, adding another steady source of transactional demand.

POL Token Trails Network Usage

Despite the rise in Polygon transactions, the POL token continues to trade near historical lows, hovering around $0.11. Derivatives data points to subdued speculative interest, with open interest near $35 million. POL functions mainly as a utility token, with some fees payable in USDC, which weakens the direct connection between network usage and token demand.

Polygon’s latest activity recovery reflects practical adoption rather than speculative momentum.