Polymarket surge drives Polygon fees above Ethereum on Feb 14
Polygon collected $407,100 in transaction fees on 14 February 2026, surpassing Ethereum’s $211,700 for the day. The spike was driven largely by Polymarket activity, which accounted for 66.7% of Polygon’s fee revenue. The report highlights a short-term fee anomaly for the Layer-2 network rather than a structural change in network economics. Separately, multiple large Bitcoin wallet movements were reported: a 14-year dormant wallet moved 7,068 BTC (~$470M), Arkham Intelligence flagged it as a Satoshi-era address; whale addresses (1,000–100,000 BTC) accumulated over 70,000 BTC in early February (~$4.6B); and other dormant wallets also showed activity, including a 909 BTC move after 13 years and a 2.565 BTC transfer to the genesis address. Key metrics: Polygon fees $407.1k, Ethereum fees $211.7k, Polymarket contribution 66.7%, moved BTC amounts include 7,068 BTC and ~70,000 BTC accumulated by large addresses. Primary keywords: Polygon fees, Polymarket, Ethereum fees, Layer 2, Bitcoin whale movements. Secondary/semantic keywords: MATIC, transaction fees spike, on-chain activity, dormant wallet, Satoshi-era. This concise overview helps traders spot short-term fee-driven demand on Polygon (MATIC) and significant on-chain BTC flows that may affect market liquidity and sentiment.
Neutral
The immediate market implications are neutral. The Polygon fee spike is driven by concentrated Polymarket activity — a single dApp causing elevated transactions and fees — which signals short-term demand on Polygon (MATIC) but not a sustained change to network fundamentals. Traders might see temporary increases in MATIC volume and fee-based revenue flows, but unless the activity recurs or broadens to other dApps, it is unlikely to produce lasting bullish momentum for Polygon or significantly alter Ethereum’s market position.
The reported large BTC wallet movements and whale accumulation are notable for market monitoring: the 7,068 BTC move from a long-dormant wallet and ~70,000 BTC accumulation by large holders can increase volatility or provoke sentiment shifts. Historically, large dormant-wallet movements can trigger short-term price reactions if markets interpret them as potential sell-pressure or portfolio reallocation (e.g., past activations of old wallets occasionally correlated with short-term downside). Conversely, the accumulation by large addresses (net buying) is often seen as supportive for price.
Short-term impact: elevated volatility in MATIC trading pairs and increased attention to Polygon; potential price wobble in BTC following dormancy activations depending on whether funds are moved to exchanges.
Long-term impact: limited unless Polymarket-level usage becomes recurrent or whale accumulation trends persist, which could be bullish for BTC if accumulation continues. Overall, traders should treat the Polygon fee event as a tactical opportunity for short-term trades and monitor on-chain flows for BTC for signals of distribution versus accumulation.