Polygon ranks top 3 for EVM transactions and surpasses $2B in stablecoin market cap
Polygon Weekly Overview - April 4, 2025
Welcome back to the Polygon Weekly Overview. The best place for Polygon community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
New here? Subscribe here to get updates to your inbox. Every Friday.
By The Numbers
Polygon daily active users: 619.89M (+11.86%)
Polygon daily txns: 3.24M (+3.18%)
Polygon Total Volume Locked (TVL): $755.19M (-2.06%)
NFT weekly sales volume: $16.2M (-12.31%)
Top 3 NFT collections by sales volume:
Courtyard: $14.23M (-11.92%)
Infinitex: $536.47K (-10.98%)
OKX NFT Creation: $154.1K (+12.75%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Agglayer Spotlight
🟪What happened: Polygon PoS ranked third among all EVM chains by transaction volume at 1.15 billion transactions processed in the past year, according to Nansen data. The network's stablecoin market cap has also grown 20.69% to $2 billion, year-to-date.
🟪Why does it matter: This adoption of stablecoins for everyday payments has allowed the network to facilitate $11.32 billion in monthly volume as of March, according to Dune Analytics data by obchakevich. The network also does $6.02 billion in monthly peer-to-peer (P2P) transfer volume.
Its stablecoin volume has been trending upward, with multiple recent months punching above the $10 billion mark. The majority of these payments are done via USDC and USDT, with $6.56 billion and $4.76 billion in volume in the past month, respectively.
Recently, the network also hit an all-time high in unique addresses with over 2 million participating in P2P stablecoin transfers in March, according to Dune Analytics data by obchakevich. The rising P2P metrics could indicate a growing usage of Polygon PoS for payments. Additionally, these increases can be seen as part of a broader trend of real-world utility for stablecoins. This positions Polygon as a major player in the remittance and digital payment space.
The network has also seen a 67% drop in transaction fees to $10.62 million in the past year, according to Nansen. This may also have contributed to the growth of P2P payments with cheaper transfers that may be suitable for frequent and smaller transactions. In turn, lower fees combined with high transaction throughput can create an attractive environment for both developers and end users.
This growth can reflect the increasing adoption of Polygon’s scalable and performant settlement layer. The network’s expanding ecosystem of dApps and integrations has arguably fueled consistent user activity and transactional throughput. Polygon PoS performance illustrates how the network can drive mainstream crypto adoption when cost and speed align with user needs.
🟪The big picture: Its rising stablecoin market cap, led by growing retail and institutional adoption, has positioned Polygon PoS as one of the leading chains for payments and real-world asset tokenization (RWA).
Polygon PoS ranks first among all layer-2s in RWA tokenization, with $194 million in tokenized assets, according to RWA.xyz. It contributed through leading institutions such as BlackRock, Franklin Templeton, Securitize, and emerging market players like Mercado Bitcoin in Brazil.
This institutional presence adds credibility and momentum to Polygon PoS as it sets out to become a key settlement layer in finance. With its stablecoin activity, Polygon is emerging as a trusted infrastructure layer at the intersection of DeFi, payments and tokenized RWAs.
Into the Agglayer
ICYMI: Watch the Agglayer Educational Series Session 2 on zkVM technical implementations
Thirdweb partnered with Agglayer to solve L2 fragmentation for developers
Read about LUMIAp's governance model that looks to reward long-term holders through lock duration, rather than dilutive token emissions
Learn about AUSD bringing liquidity to the Agglayer ecosystem in this explainer video with Agora CEO Nick van Eck
Dive into how stablecoins processed $8.5T across 1.1B transactions in Q2 2024, surpassing Visa's volume in an X article by Lumia
Ecosystem Showcase
GlueX has launched on Polygon PoS - enabling swaps, lending and liquidity provision in single transactions
Read Polygon CEO Marc Boiron's analysis on DeFi's broken yield model and proposed solutions for sustainable growth
Check out Polygon Labs Senior DevRel Engineer Brian Seong’s blog on A-Z apps to bring web2 UX to web3 applications
Panther Protocol's limited mainnet beta is live on Polygon PoS for testing its privacy and compliance features
Join in the fun
Want to dive into the Polygon ecosystem full-time? Find the latest job postings here.
Are you a dev? Join the Polygon Community Grants Program to receive funding to build on the network
Join Deniz Dalkilic from Lumia at Hack Seasons Conference for insights on real-world asset tokenization in Dubai on May 2
Join Catex's Pre-Mining campaign on Polygon to earn early liquidity provider rewards
To get this newsletter delivered to your inbox every week, subscribe here.
This product was built by Token Relations.
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.