Polygon Reports Surge in USDC User Activity

TLDR

• Polygon has over 523,000 daily active users.
• Total Value Locked on Polygon is $926.58 million.
• Polygon ranks 9th in crypto project social media following.

Polygon, a leading Ethereum Layer 2 (L2) scaling protocol, has reported notable growth in the activity of USDC monthly active users. This increase is backed by data from Token Terminal, a well-regarded analytics platform, highlighting the protocol’s expanding adoption.

USDC, a stablecoin frequently utilized in the crypto ecosystem, has shown increased activity on the Polygon network. The network’s growth in user activity is significant for crypto professionals monitoring the adoption of stablecoins on scalable networks. Key players in this progress include Polygon co-founders Sandeep Nailwal and Mihailo Bjelic, though they have not made recent statements on the matter.

Recent Growth Metrics and User Engagement

Polygon is currently surpassing 523,000 daily active users, as reported by Token Terminal. This ranks Polygon among the top L2 solutions in terms of user engagement metrics, mainly driven by stablecoin usage.

Despite no recent funding rounds linked to this growth, Polygon’s ecosystem includes significant grant programs supporting DeFi, payments, and stablecoins. These initiatives potentially contribute to the increasing number of users leveraging USDC on the platform.

Impact on Assets and Network Activity

Polygon’s native token, MATIC, directly benefits from the network’s activity, with demand linked to blockspace usage and transaction gas. The stablecoin growth also influences ETH, as user movements between Ethereum and Polygon impact its demand and bridge activity.

In May 2025, Polygon’s Total Value Locked (TVL) was approximately $926.58 million, declining from over $1 billion in early 2024. This shift might indicate capital rotation towards new use cases like payments or DeFi protocols utilizing USDC.

Comparison with Past Developments

Previous cycles saw significant user and TVL spikes on Polygon following major stablecoin onboarding and DeFi partnerships. For instance, collaborations with Aave and Uniswap had increased demand for MATIC, contributing to robust transaction and DeFi activities.

Similar past events have historically enhanced the protocol’s visibility and ecosystem liquidity, drawing more institutional participation into the network. This ongoing trend continues to bolster the network’s adoption.

Community & Developer Sentiment

Polygon maintains a vibrant social media presence, with over 1.5 million followers across various platforms. It ranks as the 9th most-followed crypto project, reflecting strong community interest and ongoing engagement.

The developer community is active, with ongoing upgrades like zkEVM Validium L2 development generating positive feedback. Discussions on platforms such as GitHub, Discord, and Twitter reflect anticipation for further scalability improvements.

Polygon has one of the largest user bases in all of crypto, with nearly 5 million monthly users. It leaves monumental names such as Ethereum, Uniswap, and Solana far behind… Number of daily active users in Polygon. January-October 2023.

Token Terminal