Polygon's on-chain activity has increased significantly recently, with nearly 8 million transactions per day, a new high for the month. Meanwhile, POL rose by about 5% in the past 24 hours, with a trading volume of approximately $50 million, as market attention returned to network usage and fund flows.
Single-day trading volume rises to monthly high
Data shows that Polygon processed over 7.95 million transactions per day. Although this number subsequently declined slightly, the daily average transaction volume has remained above 7 million recently. Since its launch, Polygon has processed over 7.54 billion transactions cumulatively.
The report mentions that the expansion of payment infrastructure is one of the reasons for the recent increase in activity. Polygon currently supports a payment processing capacity of over 5,000 transactions per second, which has also driven the increase in on-chain usage frequency.
Stablecoin market capitalization rises to over $3.45 billion.
In addition to active trading, the supply of stablecoins on the Polygon blockchain is also growing. Currently, the total market capitalization of stablecoins on the network exceeds $3.45 billion, ranking eighth among all public blockchains.
However, Polygon currently only has 102 validators, which has reignited discussions about its level of decentralization. The article also notes that the number of validators is not the only indicator; validator control, staking distribution, governance structure, and validator diversity also affect the network's actual level of decentralization.
Approximately 6 million POL tokens were purchased by an on-chain address.
In terms of fund flows, on-chain data platform Arkham shows that an address first deposited approximately $310,000 USDC into FalconX, and then bought 6 million POL at an average price of approximately $0.07899, for a total transaction amount of approximately $474,000.
This move was interpreted by the market as a signal of increased holdings, indicating that some large funds are paying attention to POL. However, the report also mentioned that FalconX could also be used for subsequent token sales, so a single on-chain action is not enough to confirm a trend.
After breaking out of the range, the price has reached a key level.
From a price perspective, POL has broken through the horizontal resistance level near $0.08135. Previously, this level had limited the token to maintain range-bound trading, with the lower end of the range around $0.07232.
The article suggests that if prices continue to hold above $0.08135, the market will focus on resistance around $0.08806, and further up to the $0.09511 area. A drop back below this level could signal a return to consolidation or a weakening trend.
Overall, Polygon's current trading activity, stablecoin size, and large-scale buy orders have collectively increased market attention to POL's short-term performance.
