Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    In this dashboard, we plan to check the fee paid in Polygon from the beginning of 2022 and then check it with Ethereum.

    Approaches

    • The number of Polygon transactions and the daily fee amount from January 1 until today
    • The number of Ethereum transactions and the amount of daily fees from January 1 to today
    • The amount of daily fee in Polygon and the price of Matic
    • Daily Fee amount in Ethereum and Ethereum price
    • Number of daily transactions on Polygon and Fee received based on USD
    • Number of daily transactions in Ethereum and Fee received based on USD
    • Comparison of daily fee in Polygon and Etehreum as native tokens of both networks and USD
      • Total amount from the beginning of the new year until today
      • Polygon transactions
      • Ethereum transactions
      • Amount of fee received in Polygon
      • The amount of Fee received in Ethereum
      • Average Fee per transaction in Polygon and Ethereum based on native tokens of each network and USD

    Methodology

    For this, we use FlipsideCrypto App :

    app.flipsidecrypto.com

    To find the volume and amount of Fee in Polygon, we use Polygon.Core Schema and the Transactions table and set the condition for January 1, 2022 so that the transaction has been successful to date.

    To find Matic and Ethereum prices, we also use Ethereum Schema and Fact_Token_Prices_Hourly table. For prices, we find them based on symbols. To find the volume in Ethereum, we also use Ethereum Schema and the Fact_Transactions table and set the condition like Polygon on the date of the beginning of the new year until today, and also that the transaction has been successful.

    The number of transactions on Polygon

    has been declining since late February. On January 1st, 3.58M transactions were made and by February 26th, it reached 1.67M that day. But after that, the trend of the number of transactions has been upward until the middle of May and reached 3.70M on May 13. After that, the trend has been slightly downward again and the number of transactions has decreased slowly because there have been other bumps in the meantime. On June 2nd, 3rd, and 4th, the number of transactions has decreased drastically, from 2.37M on January 1st to about 38K on June 2nd. On the third of June, it reached its lowest level during this period, which is about 10.49K. It reached 18.77K on June 4th, but it has returned to the previous trend since June 5th. From July 1st to July 5th, there was a heavy dump again, and the number of transactions reached less than 300K, and on July 6th, it returned to the previous trend.

    Since the beginning of the year, about 496M transactions have been made on Polygon Cain

    Fees :

    Fee trend based on Polygon's native token Matic can be said to have been almost the same and had bumps only in several days. In January 2022, it had two bumps, the biggest of which was on January 5, when the amount of fee received was about 353K Matic. In the second January bump that happened on January 21, the amount of fee received was about 268.5K Matic. After that, the trend has been the same until May 2022, when on May 11, the biggest bump occurred during this period, and the amount of Fee reached 590.33K Matic and decreased again. After that, the trend was quiet until June, but in the middle of June, it had a big bump again and reached 560.10K Matic on June 13. After that, he didn't have a bump and it can be said that he was calm.

    From the beginning of the year until today, about 11.47M Matic has been paid as Fee to Polygon Network

    db_img
    db_img

    Ethereum Transactions:

    The trend of the number of Ethereum transactions during this period was almost the same until the middle of May and after that it was almost downward until June 26 and went down, but after that it increased again and returned to the previous trend. The highest number of transactions in Ethereum was until mid-February. The highest number of transactions in Ethereum was on May 13. On that day, about 1.31 million transactions were made on this network. The lowest number of transactions was done on June 26. About 871.3K transactions have been made on that day. From the beginning of the new year until today, about 206M transactions have been made on Ethereum.

    Fee:

    The trend of the amount of Fee in Ethereum can be said to be stable and the highest amount was taken in January to mid-February, but the highest amount of Fee was on May 1. On that day, about 78.45K Eth was received as a fee from users, and this was the highest amount during this period. On May 12th, it reached about 19.94K Eth and has gone down. In the rest of the days, it had a normal trend and there was no bump or dump and it varied from about 2K to 7K. From the beginning of the new year until today, about 1.33M Eth has been paid as a fee in the Ethereum network to users.

    Loading...

    The trend of fee amount based on USD during this period in Polygon can be said that it was completely downward. Since the beginning of 2022, the amount of fee has decreased with the decrease in prices. The highest amount of Fee was in January and the lowest amount was recently. Of course, with network outages on the first of June and July, the lowest fee values ​​were on those days. In January, the amount of Fee based on USD had two big bumps, and in the biggest one, about 834.03K USD was paid on January 5, and the day before and after that, it was about 583K and 643K, and it went down. From January 16th to January 21st, the trend of the Fee amount has increased again and reached 501.62K USD on January 21st. After that, until May 9, the trend was almost low and there was no big bump and dump, and the amount of Fee fluctuated from 31.45K to about 165K USD during this period. But on May 9, the amount of Fee went up again, and on May 11, it reached 466.67K and went down. After that, he had only one bump, which was not big. On June 13, the amount of Fee reached 248.2K.

    From the beginning of the year until today, Polygon users have paid about 14.77 million for fees.

    db_img
    db_img

    The trend of the amount of Fee based on USD during this period in Ethereum has been upward until January 10, and on that day the amount of Fee paid by users has reached 61.86M. After that, the trend has been downward until March 12. It was around 6.45M USD that day. The trend is up again and reached 45.59M USD on April 5th, but after that it was almost the same for several days until May 1st, when the highest amount of Fee was in Ethereum during this period. On that day, nearly 218M USD has been paid as a fee! It had another bump on March 12, which reached about 38.92M. But after that, the trend has been upward and has not had another bump.

    The highest amount of Fee in terms of USD was on May 1, which was 217.98M USD, and the lowest amount was on July 8, which was 1.08M.

    From the beginning of the year to date, Ethereum users have paid about 3.37B USD for fees on this network.

    Now we want to see what was the average fee paid in Polygon and Ethereum based on each transaction during this period.

    NOTE : This price is based on USD.

    Polygon paid around 0.02 USD per transaction

    In Ethereum, about 16.37 USD is paid for each transaction.

    Based on this data, it can be said that the fee in Ethereum is 818.5 times the fee paid in Polygon, which means that the fee for each transaction is more than 818 times cheaper than the Ethereum network !

    In the charts below, you can see the general information of the comparison of Fee in Polygon and in Ethereum.

    The first chart is related to the trend of the amount of fee paid in both networks based on USD.

    The second chart is related to The number of transactions and the fee paid are based on the native tokens of each network (i.e. Matic, Eth) in Polygon, Ethereum.

    The third chart is related to the number of transactions and the fee paid based on USD in both networks.

    Conclusion

    • Since the beginning of the year, about 496M transactions have been made on Polygon Cain
    • From the beginning of the year until today, about 11.47M Matic has been paid as Fee to Polygon
    • beginning of the new year until today, about 206M transactions have been made on Ethereum
    • From the beginning of the new year until today, about 1.33M Eth has been paid as a fee in the Ethereum
    • The highest amount of Fee in Polygon was on June 5, which was about 834.03K, while the lowest amount of Fee in Ethereum was 1.08M USD.
    • From the beginning of the year until today, Polygon users have paid about 14.77M for Fee, while it was about 3.37B in Ethereum! This is while the number of transactions in Polygon has been much higher than Ethereum. 496M transactions have been done in Polygon during this period, and only 206M transactions have been done in Ethereum.
    • Polygon paid around 0.02 USD per transaction
    • In Ethereum, about 16.37 USD is paid for each transaction. **
    • Based on this data, it can be said that the fee in Ethereum is 818.5 times the fee paid in Polygon, which means that the fee for each transaction is more than 818 times cheaper than the Ethereum network !
    db_img

    Analyze By

    Siavashj

    Discord Handle

    Siavashj#1512

    Analyze Date

    2022 - 07 - 08

    db_img
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...
    Loading...

    Polygon :

    From July 1 to July 5, the number of transactions on Polygon ranged from 133K to 236K, but on July 6, it made a big bump and reached about 2.58M. On July 7, it reached 2.43M transactions and on July 8, it reached 2.65M transactions on that day.

    The amount of Fee in Polygon has been exactly similar to the trend of the number of transactions and it has varied from 1,371 USD to 2,389 USD from July 1 to 5, but since July 6, the amount of Fee has increased and reached 23.5K USD that day.

    On July 7, it reached 19.5K USD, and on July 8, which was the highest amount of Fee during this period in Polygon, it reached 28.44K USD, which had the highest number of transactions, i.e. 2.65M transactions.

    Ethereum :

    In Ethereum, from July 1st to July 6th, the number of transactions was high and varied from 1.05M to 1.14M transactions, but on July 7th and 8th, it completely declined and reached 468.09K transactions on July 7th and 640.9K transactions on July 8th.

    However, the amount of Fee was 3.62M on July 1st and it decreased on July 2nd and reached 1.9M on that day.

    On July 3rd and 4th, the trend started to rise again, reaching 3.52M and 3.48M USD on July 4th and 5th, but after that, the trend turned downward, reaching 1.98M USD on July 7th and 2.06M USD on July 8th.

    The amount of Fee and the price of Eth, Polygon are shown, which shows that the price of both has been rising

    db_img
    db_img

    In this visual, we can see the number of transactions and the amount of fee received in both Ethereum and Polygon networks, how the trend of the fee amount has been during this period, and also the trend of transactions has increased in Polygon and has decreased in Ethereum, and the amount of fee in How low has Polygon been compared to Ethereum!

    Conclusion

    From July 1 to July 8, 5.91M transactions were made on Polygon and 7.16M transactions on Ethereum.

    The amount of Fee in Polygon was 101.8K Matic which is equal to 51.2K USD and in Ethereum it was 17.6K Eth which is equal to 19.7M USD.

    The average fee in Polygon based on each transaction was less than 1 cent, i.e. 0.008 USD and in Ethereum 2.75 USD per transaction.

    Loading...
    Loading...