Polygon briefly surpassed Ethereum in daily transaction fees, exceeding $300,000, driven primarily by activity on the prediction market Polymarket. According to data, Polymarket has generated over $1.7 million in fees for the network in 2026 so far. Concurrently, Polygon is experiencing record stablecoin usage, leading all ecosystems in daily USDC transfers.
The Polygon network flipped Ethereum in daily transaction fees, moving beyond $300,000. This level signals unusually heavy activity compared to its normal baseline.
Market analyst Alfonso DAO stated this achievement is not a victory for broader DeFi. He attributed the surge to the Polymarket protocol and its prediction market activity.
Alfonso DAO confirmed Polymarket is the core reason for the increased transaction volume. So far in 2026, it has created over $1.7 million in fees and burned 12.5 million POL tokens.
Simultaneously, Polygon is seeing explosive stablecoin adoption. Expert Leon Waidmann reported the network hit a new high of over 12 million daily USDC transactions.
Researcher Peter noted Polygon’s weekly USDC transactions reached 28 million, surpassing Solana. USDC transfers were a record 103 million, giving Polygon a 46% market share.
For all USD stablecoins, total transactions on Polygon were 32.6 million, up 67%. This volume of 120 million transfers beat the BNB chain for the first time.
