TL;DR
- Polygon processed over $100 million in micropayments in June and surpassed 50% market share, outperforming Ethereum and all other networks.
- The network abandoned its zkEVM project to focus resources on its PoS chain and Agglayer, aiming to speed up payments and tokenized asset settlements.
- Polygon’s token, POL, rose 10% in the past week, driven by increased transaction volume and technical improvements, currently trading at $0.2683.
Polygon closed June with its best performance yet in crypto micropayments. The network handled more than $100 million in transactions between $0.50 and $100 during the month, making it the clear leader in this segment.
With that volume, it outpaced Ethereum and all major Layer 1 and Layer 2 networks combined, reaching over 50% market share. Transactions between $100 and $1,000 also saw strong growth, increasing 37% month-over-month, with POL capturing 42% of that bracket.
This growth results from a strategic shift. Polygon moved away from being just a scaling alternative to becoming a payments infrastructure focused on practical solutions. The decision to drop the zkEVM initiative and concentrate on its PoS chain and Agglayer was key. The company aims to boost stablecoin usage and facilitate faster, more stable tokenized asset settlements.
Reasons Behind Polygon’s Success
Part of this new phase aligns with Sandeep Nailwal’s return as hands-on operational leader. Under his guidance, the team released the Agglayer v0.3 upgrade, adding the “execution proof” feature that allows different chains to integrate without changing their original architecture. Additionally, a consensus hard fork named Heimdall 2.0 is upcoming, promising faster confirmation times and improved overall network stability.
Technical progress and sustained transaction growth also reflect in its token performance. Over the last seven days, POL’s price rose nearly 10%, supported by increased transaction demand and infrastructure enhancements. It currently trades at $0.2683 per unit.
While other platforms continue pushing blockchain adoption, Polygon already maintains significant real transaction volume.
