Polygon (POL) is showing impressive metrics as the second quarter of 2026 is underway. Although the network has big numbers with its on-chain metrics, the prices are still crashing, and POL is struggling at $0.074.
Polygon hit 600+ million transaction for Q2
Polygon has been on a roll, and the second quarter has turned out to be one of the most successful quarters for the network. The transaction activity on the network stands out in particular. The previous quarterly high that Polygon reached was 711 million transactions, and currently the network has hit $601 million, with a few more weeks still left in Q2.
In addition, the network achieved a 27.88 Mgas/s throughput, which means the network can process 27.88 million gas units per second. In blockchain networks, gas is a unit that measures the amount of computational work required to execute transactions or smart contracts.
So:
Mgas/s = Million Gas per Second
27.88 Mgas/s = 27,880,000 gas units processed every second
For context, if a simple transaction costs 21,000 gas, then a throughput of 27.88 Mgas/s could theoretically handle around 21,000/27,880,000≈1,327.
Polygon network reaches $3.5 billion stablecoin
Polygon’s stablecoin supply also has reached $3.53 billion, indicating strong liquidity across the network. This suggests that a significant amount of capital is being held and utilized within the ecosystem. A large stablecoin supply often reflects healthy activity in DeFi, trading, and payments. It also provides substantial buying power that can potentially flow into other crypto assets.
POL loses 50-day MA despite showing impressive on-chain metrics
Despite all those impressive on-chain numbers, the POL price is still on a downtrend. It has crashed below the 50-day moving average and is priced at $0.074. The token reached these low levels after crashing below an important support level at $0.090, which the bulls had defended since February of this year.
Nonetheless, when zooming into the price action on the 4-hour charts, it could be seen that Polygon is actually recovering. As shown in the chart below, the token hit the $0.072 support level and rebounded off of it and is now trading at $0.074.
Given that this rebound converts into a reversal and the bulls keep buying more, there is a high chance that the token could first test the 0.078 level, which happens to be the 50-day MA. Although the on-chain metrics still have not materialized in terms of price action, it does not mean they will not.
