Polygon’s non-P2P stablecoin volume surges 66% – So why is POL stalling?

Polygon [POL] has been rising when it comes to chain exercise, however its value motion stays undercapped. The altcoin has been buying and selling above the $0.08 stage regardless of its excessive liquidity from the stablecoin exercise.

Polygon’s stablecoin switch quantity

Polygon’s non-P2P stablecoin switch quantity is up by about 66.7% during the last 4 months. As of writing, the month-to-month quantity in April reached $24 billion.

Since January of this yr, each month has been larger than the earlier one. In January, the stablecoin switch quantity was under $15 billion, which stayed the identical even in February.

In March, the metric jumped to across the present ranges, which have been maintained.

In complete, the community had greater than $3.44 billion, which was the smallest within the checklist. Therefore, greater than $140 billion in complete stablecoin quantity had been transacted in Polygon and the figures had been rising.

This confirmed stablecoin circulate was considerably contributing to DeFi as the costs continued to tank.

Polygon exercise efficiency throughout totally different metrics

Polygon is selectively outperforming totally different chains throughout totally different metrics, as per knowledge from DefiLlama.

Each day on-chain charges generated by the Polygon community surpassed BNB Good Chain [BSC] with $297.24K in opposition to $271K. Canton [CC], Tron [TRX], Solana [SOL], and Ethereum [ETH] took the primary 4 positions, respectively.

Polygon was forward of ETH and Base Chain by every day lively addresses with 534.8K. Nonetheless, its DEX quantity was comparatively low at round $178 million.

The rising income helped in controlling provide. The charges of $297K resulted within the burning of two.64 million POL, decreasing the inflation of the token.

The transaction speeds had been additionally excessive, as per Chainspect data. The theoretical throughput was at 3,333 TPS. Once more, POL hit a brand new max document of two,239 TPS.

Is value forming a backside?

On the worth charts, Polygon has been declining since final yr. Between March and October of 2025, POL value traded in a sideways vary however broke down under $0.17 help.

The breakdown was retested by the rally that occurred throughout the opening of the yr. Consequently, it dropped to round $0.0835, the place it’s doubtlessly forming a backside. The zone has rejected a decline twice and is presently approaching it for the third time.

Within the case of a ground, the altcoin could surge again to at the least  $0.12, the place a break above would take it to $0.17. Conversely, breaching the help stage would amplify the decline.

Ultimate Abstract

• Polygon’s non-P2P stablecoin switch quantity elevated by 66.7% in 4 months as complete stablecoin market cap reached $3.34 billion. 
• Polygon value was doubtlessly forming a backside at $0.0835, which has been in place since 2026.