Polygon PoS Chain transaction fees up 225% in April

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Polygon PoS Chain transaction fees up 225% in April

transaction fees rose 225% in April despite activity falling by 33%.

transaction fees on the Polygon PoS Chain, the most popular network in the polygon ecosystem, experienced extreme volatility last quarter despite activity trending within a narrow range.

The daily gas fees increased from $80,000 to $260,000 during April, despite coinciding with transaction volume falling from 3M to 2M, according to a new report from Nansen.

Fees then averaged $90,000 to $120,000 throughout the quarter, with the exception of a sudden spike to $185,000 in mid-June. The transaction volume was Range-bound between 2M and 2.5M throughout May and June.

The third quarter marked significant milestones for the polygon ecosystem. Polygon Labs unveiled its new roadmap for the expansion of the PoS Chain, which includes the introduction of a new network token, revamped management, and unifying the PoS Chain with zkEVM, polygon's latest scaling solution.

The v0.9 launch of Supernets, polygon's framework for launching layer 3 appchains, Nansen also pointed to the v0.9 launch of Supernets, polygon's framework for launching layer 3 appchains.

Chainlink, a top web3 oracle provider, was the network's most active protocol, with 50.5M transactions in the quarter. The strategy game Planet IX, an NFT-powered strategy, ranked second with 12.4M, followed by the Stargate cross-chain bridge with nearly 9M, and activity from MEV bots with 7.7M.

Since its inception with 560M, MEV bots have been the largest single transaction source on the network, followed by Chainlink with 414M.

Top stablecoinsUSD Coin and XEN Crypto topped the list of active users with 1.4M each, followed by XEN Crypto with 1M.

Despite fees, transacting on the sidechain was 99% less than Ethereum's mainnet over the same period.