Polygon tops Ethereum in daily fee metric…“Thanks to Polymarket”

Uk Jin

Summary

Polygon (POL) reportedly surpassed Ethereum (ETH) in daily fees for the first time.
It said the surge in trading on the Polygon-based prediction market Polymarket pushed fees over $1 million over the past seven days.
The Polygon team noted that more than $15 million in bets were placed on the Oscars, and said it is using this for its own promotion.

Layer-2 blockchain Polygon (POL) has recently overtaken Ethereum (ETH) in daily transaction fees. The move is seen as driven by a surge in activity on the prediction market Polymarket.

On the 17th (Korea time), crypto media outlet Cointelegraph, citing Token Terminal data, reported that Polygon logged about $407,000 in fees in a single day on the 13th, surpassing Ethereum ($211,000). It was the first time Polygon has outpaced Ethereum in daily fees.

The industry believes increased activity on Polygon-based prediction market Polymarket produced the result. In fact, fees generated on Polymarket over the past seven days have exceeded $1 million.

Matthias Seidel, founder of Grosspie, analyzed that “the recent increase in Polygon activity is effectively being led by Polymarket.”

Polygon has also been actively using the metric in its own promotion. On the 14th, the Polygon team said via X (formerly Twitter) that “more than $15 million was wagered on the Oscars,” adding that “Polygon is the chain beneath Polymarket.”

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