Polygon Surpasses Ethereum in Daily Transaction Fees

TheNewsCryptoPublished on 2026-02-17Last updated on 2026-02-17

Abstract

According to data from Token Terminal, Polygon, a scaling solution for Ethereum, surpassed Ethereum in daily transaction fee revenue for the first time. On a recent Friday, Polygon generated $407,121 in fees compared to Ethereum's $211,790. This surge is largely attributed to heavy usage of the prediction market platform Polymarket, which has driven significant on-chain activity. For instance, an Oscars-related market on Polymarket saw over $15 million in wagers. Additionally, increased stablecoin activity, particularly USDC, on the Polygon network has contributed to this growth. While the trend continued over the weekend, fees have since normalized, with Ethereum regaining its lead. This event highlights a momentary shift in network activity, prompting discussions on long-term competition.

Polygon, a blockchain network built to scale Ethereum, has recorded higher daily transaction fee revenue than Ethereum for the first time ever, according to data from Token Terminal. The figures show that on Friday, Polygon earned $407.121K in transaction fees, while Ethereum generated $211.790K in the same 24‐hour period, marking a notable shift in network activity.

Over the following day, the trend continued until Sunday with a record of $303.9923K volume. On the latest close, Polygon’s daily transaction fees slightly slipped to $186.508k compared with about $262.710k on Ethereum.

Analysts and blockchain data observers attribute the surge in Polygon’s fee revenue mainly to heavy usage of Polymarket, a prediction market platform operating on the network. According to Matthias Seidl, co-founder of the analytics platform growthepie, recent increases in activity “have been fully driven by Polymarket,” with the platform generating more than $1 million in fees for Polygon over the past seven days.

Impact of Polymarket and Stablecoin Activity on Polygon’s Fees

Polymarket’s user engagement appears to have contributed considerably to the shift in on‐chain activity, as users place real‐world event wagers that require frequent transactions. Polymarket is a major prediction market platform in the blockchain space, which began operating in 2020 supported by Polygon. Polygon itself noted that, in one instance related to an Oscars market, more than $15 million in wagers were placed, further driving fee generation.

In addition to prediction market growth, Polygon has seen increased use of stablecoins on its network, particularly USDC, which has reached new weekly highs in transaction counts. This uptick in stablecoin activity suggests broader adoption across decentralized finance use cases.

While Ethereum remains the largest smart contract platform by market value and overall activity, these fee metrics reflect a momentary shift in daily revenue generation. Discussions in the blockchain community now focus on whether such patterns will persist and how they might influence long‐term network competition.

Highlighted Crypto News:

Bundesbank President Urges Development of Euro-Pegged Stablecoins and Retail CBDC

TagsETHEREUMPolygontransaction fee

Related Questions

QAccording to the data from Token Terminal, which blockchain network recorded higher daily transaction fee revenue than Ethereum for the first time ever?

APolygon

QWhat was the amount of transaction fees earned by Polygon on Friday, as mentioned in the article?

A$407.121K

QWhich specific prediction market platform is identified as the main driver behind the surge in Polygon's fee revenue?

APolymarket

QBesides prediction markets, what other type of asset's increased activity on Polygon has contributed to its fee generation, reaching new weekly highs?

AStablecoins, particularly USDC

QWhat significant event-related wager amount was placed on Polymarket, hosted on Polygon, that was highlighted as driving fee generation?

AMore than $15 million in wagers were placed on an Oscars market

Related Reads

Prediction Markets Under Bias

The article "Prediction Markets Under Bias" by Jeff Park of Bitwise argues against the common media portrayal of prediction markets as mere gambling or a social ill. It distinguishes between gambling and investment based on whether a participant's strategy has a positive expected value (+EV), not the market's structure. The author contends that prediction markets, like poker, are skill-based and can be a legitimate form of investment, offering individuals autonomy, truth discovery, and decentralized value. The piece critiques the common conflation of prediction markets with casino gambling, highlighting their role in risk hedging and capital efficiency, similar to insurance and securitization. A key differentiator is their precision and finite expiration, which makes prices directly anchor to factual outcomes, rewarding deep research and information advantage rather than punishing the uninformed. The author concludes that media opposition often stems from a structural bias, as these markets challenge traditional information gatekeepers and promote a more democratic, transparent system for pricing truth. The real debate is not about information having a price, but about who controls and profits from it.

marsbit11m ago

Prediction Markets Under Bias

marsbit11m ago

Why Do You Always Lose Money on Polymarket? Because You're Betting on News, While the Pros Read the Rules

Why do you always lose money on Polymarket? Because you bet on news, while the pros study the rules. This article explains how top traders ("che tou") profit by meticulously analyzing market rules, not just predicting events. Polymarket, a prediction market platform, often sees disputes over event outcomes due to ambiguous rule wording. For instance, a market asking "Who will be the leader of Venezuela by the end of 2026?" was misinterpreted by many who bet on Delcy Rodríguez, assuming she held power. However, the rules specified "officially holds" as the formally appointed, sworn-in individual. Since Nicolás Maduro was still recognized as president officially, he won the market—even being in prison. To resolve such disputes, Polymarket uses a decentralized arbitration system via UMA protocol. The process involves: 1. Proposal: Anyone can propose a market outcome by staking 750 USDC, earning 5 USDC if unchallenged. 2. Dispute: A 2-hour window allows challenges with a 750 USDC stake; successful challengers earn 250 USDC. 3. Discussion: A 48-hour period on UMA Discord for evidence and debate. 4. Voting: UMA token holders vote in two 24-hour phases (blind then public). Outcomes require >65% consensus and 5M tokens voted; otherwise, four re-votes occur before Polymarket intervention. 5. Settlement: Results are final and automatic. Unlike traditional courts, Polymarket’s system lacks separation between arbitrators and stakeholders—voters often hold market positions, creating conflicts of interest. This leads to herd mentality in discussions and non-transparent outcomes without explanatory rulings, preventing precedent formation. Thus, success on Polymarket hinges on deep rule interpretation, not just event prediction, exploiting gaps between reality and contractual wording.

marsbit21m ago

Why Do You Always Lose Money on Polymarket? Because You're Betting on News, While the Pros Read the Rules

marsbit21m ago

DeepSeek Funding: Liang Wenfeng's 'Realist' Pivot

DeepSeek, a leading Chinese AI company, has initiated its first external funding round, aiming to raise at least $300 million at a valuation of no less than $10 billion. This move marks a significant shift from its founder Liang Wenfeng’s previous idealistic stance of rejecting external capital to maintain independence. Despite strong financial backing from its parent company, quantitative trading firm幻方量化 (Huanfang Quant), which provided an estimated $700 million in revenue in 2025 alone, DeepSeek faces mounting challenges. Key issues include a 15-month gap in major model updates, delays in its flagship V4 release, and the loss of several core researchers to competitors offering significantly higher compensation. The company is also undergoing a strategic pivot by migrating its infrastructure from NVIDIA’s CUDA to Huawei’s Ascend platform, a move aligned with China’s push for technological self-reliance amid U.S. export controls. However, DeepSeek lags behind rivals like智谱AI and MiniMax—both now publicly listed—in areas such as product ecosystem, multimodal capabilities, and commercialization. The funding round, though relatively small in scale, is seen as a way to establish a market-validated valuation anchor, making employee stock options more competitive and facilitating talent retention. It also signals DeepSeek’s transition from a pure research-oriented organization to a commercially-driven player in the global AI ecosystem.

marsbit1h ago

DeepSeek Funding: Liang Wenfeng's 'Realist' Pivot

marsbit1h ago

Warsh, Trump's Next 'Scapegoat' at the Federal Reserve?

Kevin Warsh, a nominee for the Federal Reserve chair, faces a challenging confirmation hearing amid political pressure from former President Donald Trump to implement immediate and significant interest rate cuts. Warsh has proposed reforms including reducing the Fed’s communication frequency and shrinking its $6.7 trillion balance sheet. However, market expectations for rate cuts remain limited, creating tension with Trump’s demands. Warsh’s stance has shifted over time, from hawkish during the financial crisis to more dovish recently, citing AI-driven productivity gains. His confirmation is further complicated by Republican Senator Thom Tillis’s threat to block the nomination unless an investigation into current Chair Jerome Powell is dropped. Trump has warned of firing Powell if he doesn’t leave on time. Observers note that Warsh risks becoming a "scapegoat"—either by yielding to political pressure and fueling inflation, or by resisting and facing Trump’s backlash. His ties to Trump’s circle and Wall Street support may aid his nomination, but his ability to balance political demands with the Fed’s credibility remains uncertain. Historical precedents, like Arthur Burns’s compliance with Nixon, highlight the risks of political interference in monetary policy.

marsbit1h ago

Warsh, Trump's Next 'Scapegoat' at the Federal Reserve?

marsbit1h ago

Plunging 10% Then Surging: Weekend Crude Oil Market Watch

Following a 10% plunge, oil prices surged over the weekend as geopolitical tensions in the Strait of Hormuz escalated dramatically. The initial market optimism, driven by the strait’s brief reopening on Friday, quickly reversed on Saturday when Iran reinstated restrictions and fired on vessels, halting nearly all traffic. In response, oil contracts rose approximately 4.52%, while S&P futures fell nearly 0.8%. U.S. President Trump alternated between diplomatic gestures—sending an envoy for talks—and threats to destroy Iranian infrastructure if no deal was reached. Iran rejected further negotiations, fearing a U.S. attack before the midweek ceasefire deadline. This triggered another spike in oil, surpassing Saturday’s highs, and further pressured equity markets. Crypto-related stocks underperformed significantly. Market optimism is expected to be punished, and the week ahead hinges on whether Iran maintains its refusal to negotiate.

marsbit1h ago

Plunging 10% Then Surging: Weekend Crude Oil Market Watch

marsbit1h ago

Trading

Spot
Futures

Hot Articles

Discussions

Welcome to the HTX Community. Here, you can stay informed about the latest platform developments and gain access to professional market insights. Users' opinions on the price of ETH (ETH) are presented below.

活动图片

Top Questions

Hot Categoriesright-arrow

Hot Tagsright-arrow