Polygon Q3 highlights record stablecoin volume, payment growth
Polygon Weekly Overview - October 24, 2025
Welcome back to the Polygon Weekly Overview, the best place for the Polygon community to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
By The Numbers
Polygon daily active addresses: 577.25K (-8.11%)
Polygon daily txns: 4.06M (-0.98%)
Polygon Total Volume Locked (TVL): $1.27B (+6.53%)
Daily DEX Trading Volume: $258.53M (-23.49%)
USDT: $277M (-58.12%)
USDC: $438M (-3.52%)
DAI: $146M (-40.65%)
NFT weekly sales volume: $3.37M (+13.46%)
Top 3 NFT collections by sales volume:
Courtyard: $2.42M (+21.62%)
DNS: $173.03K
Voxies: $73.65K (-14.04%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Polygon Spotlight
🟪 What happened: Polygon Labs CEO Marc Boiron and Polygon Foundation CEO Sandeep Nailwal presented the network’s Q3 2025 results in a community update with Token Relations, highlighting the network’s transformation into payments-focused infrastructure. The network recorded 345 million transactions in the third quarter, with stablecoin volume increasing to $198 billion, and transfers spiking 21% to 287 million from the previous quarter.
🟪 Why it matters: “For us, primarily, Q3 was about scale. We saw more users, lower costs, deeper adoption across payments, institutions and new markets,” Nailwal said. “The Polygon story is finally moving beyond web3.”
Payment provider volume hit an all-time high of $1.8 billion in the third quarter, increasing 49% from $1.21 billion in the second quarter, as fintechs, neo-banks, and payment service providers chose Polygon as their default chain.
Stablecoin supply reached an all-time high of 3.4 billion in the quarter, while payment transfers increased more than 50% to $2.27 billion from the previous quarter. The network said it also managed to maintain gas fees below a fraction of a cent, enabling the micro-transaction economics necessary for real-world payment adoption.
Recent onchain data reflects this payments momentum. Stablecoin transfers on Polygon hit an all-time high of 26.08 million weekly transfers across 3.9 million unique addresses for USDC, USDT, and DAI (USDC led the pack at 12.04 million weekly transfers).
Over 80% of these were micro-transactions under $100, which led to $6.82 billion worth of weekly transfers despite the high transfer volume — a stark departure from the highs of March, when the network reached a peak of $45.63 billion. Still, this pattern confirms how the network has optimized for frequent, low-value transactions to make onchain payments feasible at any scale.
Polygon said the network’s efforts to improve its infrastructure enabled this scale. The Validator-Elected Block Producer (VEBloP) upgrade, deployed during the quarter, eliminated reorgs and introduced near-instant finality.
“This new upgrade also enables us to now scale the blockchain from where we were this year. Only, we went from 200 to 1,000 TPS. But now we will go from 1,000 TPS to 5,000 TPS within probably this year and next two to three months,” Nailwal said.
The network is targeting 100,000 TPS in the next year or two, which, Naliwal said, would put Polygon “right up there with the high throughput chains like Solana, Sui, Aptos and many more.”
Trends on Polygon seem to be supported by broader momentum in the global fintech landscape. “Whether you look in the UK with Revolut, in the US with Robinhood, or you go to Latin America with something like Lemon, you’re really talking about a very global presence, which, when you’re thinking about a payments network, that’s what you care about,” Boiron said.
Polygon DEX volume reached $2 billion last week, with Polymarket accounting for $701 million, 35% of the total DEX activity. Over a few days in October, daily transactions on the network crossed 4.5 million per day, and Boiron noted that “with this VEBloP, which has happened recently, this will only go higher and higher.”
🟪 The big picture: Polygon’s Q3 results mark the network’s emergence from web3 native applications into mainstream financial infrastructure.
“We are now playing on a turf where it is our natural strength to be doing stuff, bringing stuff on Polygon which has actual, real world utility,” Nailwal said. The combination of record payment volumes, institutional integrations with BlackRock’s BUIDL fund and NRW.BANK’s state-issued bonds, and over $1 billion in tokenized assets positions Polygon as infrastructure for payments, DeFi, and institutional finance.
“We are having discussions with some of the top institutions in the world, and they all want to get onboarded onto blockchains for doing their stablecoin and payment related transactions, and also tokenizing their own deposits, balance sheets, treasury funds and so much more,” Nailwal said.
And the focus on improving support for large transaction volumes stands to improve Polygon’s standing with institutional investors. “We believe that as you bring a lot of stablecoin volume to Polygon from institutions and fintechs, they’re going to leverage the infrastructure they’ve already built for their customer base and move into RWAs, too,” Boiron explained.
“Web3 is no longer a niche, but it’s powering the overall real economy of the world, and the Polygon team, as well as the ecosystem, we rightly feel at home on our home turf,” Naliwal said.
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Ecosystem Showcase
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.
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