Polygon (POL) Surges 25% Weekly as Network Usage and Revenue Soar
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Surge in Network Usage: Polygon's price has increased approximately 25% over the past week, with daily trading volume rising by about 35%, indicating a significant uptick in network usage and demand, which solidifies its market position.
- Significant Revenue Growth: Polygon has ascended to become one of the top three on-chain revenue generators, surpassing both SUI and Redbelly, with an increase in stablecoins directly driving up transaction fees, reflecting a healthy ecosystem.
- Supply Reduction Strategy: Polygon is burning approximately 1 million POL tokens daily, which could lead to a 3.5% annual reduction in total supply, a strategy that will lower market sell pressure and enhance liquidity, boosting investor confidence.
- Record High Transaction Volume: Recently, Polygon processed over 3 million transactions in a single day, demonstrating actual network usage, and with increased gas limits and adjustments to EIP-1559, it is expected to further enhance throughput and application capabilities.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
