Polygon’s daily transaction fees surpass Ethereum’s for the first time.
For the first time, daily transaction fees on Polygon have exceeded those of Ethereum, according to data from Token Terminal.
On February 14, the network collected $407,100 in transaction fees, while its competitor garnered $211,700. The following day, the figures were $303,923 and $285,480, respectively.
Matthias Seidl, co-founder of the analytics platform growthepie, highlighted that the surge in activity on Polygon is entirely driven by the prediction platform Polymarket.
According to him, the platform has generated over $1 million in fees for the blockchain over the past seven days. In comparison, the second-largest application in the ecosystem, Origin World, generated about $130,000.
The Polygon team also highlighted the spike in activity on Polymarket. Developers noted that more than $15 million in bets were placed on a single Oscar-related market.
“Polymarket is becoming cultural infrastructure. And Polygon is the network underpinning all of this,” they added.
The network set a new weekly high with 28 million transactions in Circle’s stablecoin, surpassing Solana in this metric. The number of asset transfers also reached a record 103 million.
Another significant factor was the use of the x402 protocol. Polygon recorded the highest weekly volume of organic micropayments at $1.2 million.
The network also leads in x402 activity with 358,000 transactions over seven days.
Back in December, the Polygon team deployed the Madhugiri update. The upgrade aims to increase the blockchain’s throughput by 33% and reduce block consensus time to one second.
