Polygon Surges Ahead: Outpacing Ethereum & Arbitrum in Active Wallets and Stablecoin Usage - A Sleeping Giant?

Today I crossed with the following Tweet and again made me be more bullish as before regarding Polygon future.

Monthly stablecoin transfers by blockchain

As you can see in the image above Polygon has gained some traction the last month reaching 10.8M followed by Arbitrum and surpassing Ethereum. This raise can be related to market rally and also to Polymarket trend. But this is not all:

Monthly active stablecoin wallets

As we can see in this image too, Polygon is also beating in the monthly active stablecoin wallets probably again because the rise on Polymarket use.

All this data made me research more and check Visa research by myself and found more clear and better chart to understand this

Average Monthly Active Unique Stablecoin wallet addresses by blockchain - ALL

Average Monthly Active Unique Stablecoin wallet addresses by blockchain - 12 M

The charts above show this difference in a clearer way. As you can see the more L2s, the less ETH holding stablecoins but its quite stable. However we can see how Polygon keeps maintaining or even increasing the amount of wallets even thought ARB and Base appeared in the scene.

This is a bullish metric that is telling us that people are really using Polygon ecosystem and also holding stablecoins. It's a matter of time that this sleeping giant wakes up.

Sources:

• Tweet: https://x.com/ournetwork__/status/1879970729074344158
• Full OurNetwork Report: https://www.ournetwork.xyz/p/on-303-layer-2s#polygon
• Visa research: https://visaonchainanalytics.com/addresses

Disclaimer: The concept and ideas in this post come from my own thoughts and everything I have seen online during my three years in crypto. Any resemblance is purely coincidental. This is not a financial advice.