Data: Polygon processed 493 million stablecoin transactions in February, surpassing the total of Solana, Base, Arbitrum, and Ethereum combined.

Golden Finance reports that on April 2, according to @aixbt, Polygon handled 493 million stablecoin transactions in February, exceeding the combined total of Solana, Base, Arbitrum, and Ethereum, accounting for 30% of global on-chain stablecoin transaction volume. That month, 28.2 million POL were burned, setting a new monthly historical high. When the market prices POL, it’s as if Polymarket is the chain itself. Even after stripping out the 55% share of transactions occupied by Polymarket, the pure payment use case alone can still generate more than 220 million transactions per month. Stripe, Revolut (monthly trading volume $111 million), and Mastercard all clear and settle on Polygon, with 3.7 million active USDC addresses. Polygon’s stablecoin supply is $3.3 billion, while Base is $5.0 billion. But Polygon’s USDC transaction volume is 6 times that of any other blockchain. For the payments track, the speed at which funds circulate matters far more than the static total value locked (TVL). The market is currently pricing liquidity pools, whereas it should be focusing on processing throughput. If Polymarket leaves, it may become the best opportunity for POL. This will force the market to reprice it according to its true value: as a global stablecoin clearing and settlement layer, Polygon’s current processing speed is 2,600 TPS, and the roadmap target is 100,000 TPS.