Polygon moved roughly $79.25 billion in stablecoin volume during May, its second-highest month ever. The network also ranked first among all blockchains in transaction count for the month, processing 198 million USD-denominated stablecoin transactions.
The numbers behind the surge
Polygon’s cumulative stablecoin transfer volume has now surpassed $2.4 trillion.
The bulk of the activity centers on USDC and USDT, the two dominant dollar-pegged stablecoins.
Transaction fees on the network average around $0.002. For context, a wire transfer through a traditional bank typically costs $25 to $50, and even Ethereum mainnet gas fees can spike to several dollars during busy periods. Polygon settles transactions in approximately two seconds with a throughput capacity of 110 transactions per second.
