Polygon has generated more daily transaction fee revenue than Ethereum over the past three days, with analysts attributing the surge to strong user activity on prediction market platform Polymarket.
Data from Token Terminal shows that Polygon collected $407,100 in transaction fees on Friday, surpassing Ethereum’s $211,700 for the same period. The figures mark the first time Polygon has overtaken Ethereum in daily fee generation.
The fee gap has since tightened. On Saturday, Polygon recorded roughly $303,000 in daily transaction fees, while Ethereum generated about $285,000.
Polygon hosts Polymarket, one of the most prominent blockchain-based prediction markets since its launch in 2020.
In a post on X on Monday, Matthias Seidl, co-founder of Ethereum analytics platform growthepie, pointed to Polymarket as the primary driver of Polygon’s recent activity spike, saying the growth has been “fully driven by Polymarket.”
Seidl shared data indicating that Polymarket generated just over $1 million in fees on Polygon over the past seven days. By comparison, the next-largest application on the layer-2 network, Origin World, accounted for roughly $130,000 in fees during the same period.
Polygon has also pointed to accelerating activity on Polymarket. In a post on X on Saturday, the team said more than $15 million in wagers were placed on a single Oscars market category, emphasizing that “Polygon is the chain underneath it all.”
The network added that a growing ecosystem of trustless agents is being deployed on the layer-2 to capitalize on opportunities within prediction markets.
Prediction markets have surged in popularity since the most recent US election, with rising demand prompting multiple crypto firms to roll out competing platforms.
Some observers have also highlighted increasing stablecoin usage on Polygon, particularly involving USDC issued by Circle. In a post on Sunday, Polygon data analyst petertherock said the network recorded a new weekly high of 28 million USDC transactions.
Polymarket settles trades using Polygon-based USDC on its platform.
