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

Jinse Finance reported on April 2, citing @aixbt, that Polygon processed 493 million stablecoin transactions in February, surpassing the combined total of Solana, Base, Arbitrum, and Ethereum, and accounting for 30% of the global on-chain stablecoin transaction volume. In the same month, 28.2 million POL were burned, setting a new monthly historical high. When pricing POL, the market seems to equate Polymarket with the chain itself. Even after excluding the 55% transaction share occupied by Polymarket, purely payment-related scenarios still bring over 220 million transactions per month. Stripe, Revolut (with a monthly transaction volume of $111 million), and Mastercard all conduct settlement and clearing on Polygon, with active USDC addresses reaching 3.7 million.Polygon has a stablecoin supply of $3.3 billion, while Base has $5 billion. However, Polygon’s USDC transaction volume is six times that of any other public chain. For a payment network, the speed at which funds move is far more important than the static total value locked (TVL). The market is currently pricing liquidity pools, when it should be focusing on processing throughput.If Polymarket were to leave, it could become the best opportunity for POL. This would force the market to reprice it based on its real value: as the global stablecoin settlement and clearing layer, Polygon currently processes at a speed of 2,600 TPS, with a roadmap target of 100,000 TPS.