Polygon Tops Ethereum in Daily Fees as Polymarket Surges
Polygon briefly surpasses Ethereum in daily fees as Polymarket activity accelerates
Polygon recorded higher daily transaction fees than Ethereum for three consecutive days, driven by increased usage of the prediction platform Polymarket, according to data from Token Terminal.
Token Terminal reported that on Friday, Polygon collected $407,100 in transaction fees versus Ethereum’s $211,700, marking the first time Polygon has overtaken Ethereum on this measure. The gap narrowed on Saturday, with Polygon at $303,000 and Ethereum at approximately $285,000.
Polymarket, a prediction market launched in 2020 and operating on Polygon, has been a key contributor to the recent activity. In a post on Monday, Matthias Seidl, co-founder of Ethereum analytics platform growthepie, said the uptick was “fully driven by Polymarket.”
Seidl shared a chart indicating Polymarket generated just over $1 million in fees on Polygon over the past seven days. The next highest application on the Layer-2 network was Origin World, with around $130,000 in fees.
Polygon also flagged rising engagement on Polymarket. In a post on Saturday, the team noted that more than $15 million in wagers were placed on a single Oscars market category, adding that Polygon is the underlying chain supporting the activity.
The team further highlighted the deployment of trustless agents on the network to pursue opportunities on the prediction market.
Prediction markets have gained traction since the last U.S. election, prompting several crypto companies to launch comparable offerings.
Separately, stablecoin usage on Polygon has increased. In a post on Sunday, Polygon data analyst petertherock reported a new weekly high of 28 million USDC (USDC) transactions. Polymarket uses Polygon-based USDC for trading on its platform.
Figures cited are sourced from Token Terminal and public posts on X. Metrics are subject to change, and readers should verify information independently.
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