Polygon recorded 94 million stablecoin transactions, the highest among major blockchains, indicating a strong shift in on-chain capital flows and payment activity towards this ecosystem.
The surge occurred amidst the wider acceptance of stablecoins as a means of payment after the US Congress passed the GENIUS Act, allowing Polygon to capitalize on real-world demand and surge in transaction volume.
- Polygon leads the market with 94 million stablecoin transactions and 32.2 billion adjusted volume .
- Increased network fees support the Token burning mechanism: 3 million POL in 24 hours, for a total of 28.9 million POL.
- POL prices remain under downward pressure; technical signals suggest a risk of a pullback to $0.08–$0.09 if the trend continues.
Polygon sets a record with 94 million stablecoin transactions.
Polygon has just recorded 94 million stablecoin transfers, the highest among major chain , indicating a surge in stablecoin usage on Polygon .
Following the passage of the GENIUS Act by the US Congress, stablecoins have increasingly gained recognition as a popular means of payment. In this context, Polygon has successfully capitalized on this "wave of adoption" to experience significant growth in stablecoin transactions.
According to the project's announcement, Polygon recently recorded 94 million stablecoin transactions, leading the market in this metric. This activity was supported by 5.2 million stablecoin addresses.
At the same time, the total supply of stablecoins on Polygon was recorded at $3 billion. This development typically reflects increased use of on-chain liquidation , leading to increased trading activity and Capital turnover.
The chain also recorded 32.2 billion in “Adjusted Transaction Volume,” reinforcing the signal of high trading activity. Additionally, the USDC supply reached $1.49 billion, described as a daily peak.
Network fees increased and Polygon burned a total of 28.9 million POL.
Increased fee revenue has provided Polygon with the resources to expand its Token burning operations, with a total of POL burned reaching 28.9 million.
Data Chia by Neganweb3 indicates that Polygon recorded $4 million in fees over the last 30 days and $140,000 in the last 24 hours. Typically, increased fees reflect actual usage (users making more transactions).
From that revenue, the development team implemented a Token burning: in 24 hours, Polygon burned 3 million POL, bringing the total amount burned to 28.9 million. In terms of market mechanisms, Token burning can reduce the circulating supply and increase scarcity.
However, the sustained scarcity level of POL has not yet been established. The Stock-to-Flow (SFR) ratio continues to decline, reaching 4.5 at the time of this discussion, implying that the rate of “scarcity accumulation” has not kept pace with the scale of available supply.
The content also notes that the majority of market participants are actively on the supply side, causing the amount of Token available for immediate sale to increase. This could weaken the price support effect from short-term burning activity.
The POL price has not yet reflected the increase in on-chain activity.
Despite rising on-chain metrics and Token burning activity, the price of POL remains weak, indicating that demand for POL has not increased proportionally to network usage.
POL is under significant downward pressure: at the time of writing, the price was approximately $0.092, down 2.76% daily and down 42% in 30 days. This development suggests that speculative/investment flows into the Token have not yet caught up with the network's performance indicators.
From a technical perspective, POL is below the 20, 50, 100, and 200-day EMAs, reflecting a bearish structure on both short and long-term timeframes. When price is stuck below multiple moving Medium , selling pressure typically prevails.
The Stochastic Momentum Index (SMI) is recorded at -38, well into negative territory, indicating that downward pressure is dominant. In this context, if the trend continues, POL risks retreating to the 0.08–0.09 USD range.
The recovery scenario depends on on-chain activity translating into real demand for POL. If strong enough buying pressure helps the price reclaim the EMA20 at $0.1082, that could signal a significant reversal; the $0.13 area is cited as key resistance.
Conclusion: Polygon is experiencing strong growth in stablecoins, but POL is still trending downwards.
Polygon is standing out thanks to a record 94 million stablecoin transactions and rising on-chain liquidation /transaction metrics. However, POL remains weak due to strong supply and negative technical signals, meaning the "increased network usage" narrative hasn't translated into "increased Token demand" in the short term.
Frequently Asked Questions
Which stablecoin did Polygon achieve a record for, and what does that say about the country?
Polygon recorded 94 million stablecoin transactions, the highest among major chain by native content. This indicates a significant increase in stablecoin usage and on-chain Capital flow on Polygon .
How much POL did the Polygon burn, and what was the theoretical impact?
Polygon burned 3 million POL in 24 hours, bringing the total amount burned to 28.9 million POL. In theory, burning Token reduces the circulating supply, increasing scarcity, but the effect on price depends on actual supply and demand.
Why is the POL price still falling despite increased network activity?
The content suggests that network usage has not yet translated into demand for POL, while many market participants are operating on the supply side. Simultaneously, the price is below key EMAs and has a negative SMI, reflecting prevailing selling pressure.
What are the key price milestones mentioned for POL?
If the downtrend continues, POL risks retreating to $0.08–$0.09. If it recovers and regains the EMA20 at $0.1082, a reversal scenario could form, with $0.13 as a notable resistance zone.
