Polygon (POL) has seen little change over the past day, with the token down 0.24% to $0.1066. The token’s range was $0.1043 to $0.1082, and trading volume was $68.69 million, down 35.74% from the previous day.
The token is still down 91.71% from its all-time high recorded on March 13, 2024. The token was trading at $1.29 at that time. Meanwhile, the token has risen 24.29% from its low of $0.08575 on Feb. 6 and has been consolidating at around $0.10 since then. On the other hand, on-chain activity on Polygon has reached multi-month highs in fee generation.
Polygon Generates Record Fees as Stablecoin and Transaction Activity Expand
Polygon is reporting record daily chain revenue, driven entirely by network usage. Demand is described as sitting at all-time highs, blockspace is full, and POL burn is accelerating. Validator rewards are strengthening even as average transaction costs remain around $0.03.
On-chain throughput has also intensified. According to the Polygon team, weekly stablecoin transfers reached 103 million, pushing Polygon’s share of the segment to 46% market share and lifting transaction volume to new highs. Across chains, Polygon processed 120 million USDT stablecoin transfers, overtaking BNB for the first time in that metric.
Total network activity also expanded, as the Polygon Network recorded 32.6 million transactions in a week, up 67% over the prior period and nearly double Solana’s count. Weekly organic activity rose to 402 transactions per minute, with roughly 358,000 transactions logged over the week. Stablecoin transfer counts approached 2 million in January alone.
Chain revenue rankings show Polygon generating $295.4K in daily fees, placing it among the higher-earning networks despite low user costs. For traders, sustained fee expansion combined with accelerating token burn tightens circulating supply dynamics at a time when price is attempting to stabilize above recent lows.
Buyers Defend $0.10 as Breakout Structure Comes Into Focus
Structurally, POL price has moved away from its February low of $0.08575 and is currently trading slightly above $0.10, which chartists see as support. The token is consolidating below a minor resistance level at $0.108, with daily highs capped at $0.1082.
Kapoor Kshitiz notes Polygon price recently printed its third-highest fee day ever, with 2.776 million POL paid in fees. Despite that, price remains nearly 90% below its all-time high, underscoring the distance from prior cycle peaks.
On lower time frames, he observes a developing breakout attempt. If the POL coin price remains above $0.100, the levels of $0.114 and $0.135 are of interest, representing 15% and 30% above the $0.10 base.
The plan depends on whether buyers continue to purchase inventory at the $0.10 level. Thus far, selling has eased as the price approaches $0.104, although declining volume suggests traders are waiting for confirmation of the move. If Polygon coin’s price breaks above $0.108, the technicals would be more bullish; otherwise, the current scenario would be invalidated.
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