USDC hits record transfer volume on Polygon
Polygon Weekly Overview - April 11, 2025
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By The Numbers
Polygon daily active users: 455.72M (-26.48%)
Polygon daily txns: 3.1M (-4.32%)
Polygon Total Volume Locked (TVL): $804.5 (-4.09%)
NFT weekly sales volume: $17.73M (+9.47%)
Top 3 NFT collections by sales volume:
Courtyard: $15.93M (+12.25%)
Infinitex: $449.91K (-15.98%)
LED Collection: $156.8K (+17.64%)
The percentages and metrics are based on a 7-day timeframe, unless noted otherwise.
Polygon Spotlight
🟪What happened: The USDC 30-day transfer volume and velocity on Polygon PoS hit all-time highs, at 4.16 billion and 4.48 transactions per unit of USDC, respectively, according to Dune Analytics data.
🟪Why does it matter: This trend coincides with a rise of real-world assets (RWAs) on the network. Notably, Spiko TVL on Polygon PoS hit highs at $134.46 million, up 15% in the past week, according to DeFillama data.
Velocity is a core metric for assessing the utility of a stablecoin. The velocity of money in an economy indicates the amount of times a single unit of currency is exchanged or used in a transaction. When velocity is high, this can be a sign of a strong and active economy.
In Polygon’s case, a velocity of 4.32 indicates that USDC exchanges hands four times a month, which signals real transactional demand and everyday use. At the same time, transfer volumes have hit all time highs and USDC supply on Polygon has surged to nearly $959 million, further highlighting broader adoption and use in DeFi protocols.
The network also ranked third among all EVM chains by transaction volume in the past year, as well as reached new highs for peer-to-peer transactions. This can be seen as a clear indicator of organic and user driven activity.
On the RWA side, the network hit an all-time high of $134.36 million in TVL on Spiko, a multi-chain money markets platform. Spiko leads as the largest global bond tokenization protocol, with over 80% market share, according to RWA.xyz. It’s also the top RWA protocol by TVL on Polygon PoS, alongside institutions like BlackRock and Franklin Templeton. The latest growth for Spiko’sis driven by its EU T-Bills Money Market Fund (EUTBL), which holds $110 million in value on Polygon PoS.
The surge in USDC payments, paired with RWA adoption, could make Polygon PoS a foundational layer for institutions and everyday payments.
🟪The big picture: The overall RWA market cap has grown 21.57% to $10.17 billion across all networks in the past 30 days, according to RWA.xyz data.
This growth has come from tokenization in many different asset classes. For Polygon, non-US Government treasuries, similar to Spiko’s offerings, have grown 10%, private credit is up 14.6% and Mercado Bitcoin’s onchain value has grown to $68.94 million in the past 30 days.
With its combination of stablecoin activity, low fees and growing RWA institutional presence, Polygon PoS showcases its ability to handle real-world finance applications, from peer-to-peer payments to multi-million dollar treasury products.
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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.