Polygon (POL) Rallies on Binance Listing and Major Upgrade, Set to Power Polygon 2.0 Ecosystem
Comprehensive Brief:
Polygon (formerly MATIC ) has officially transitioned to its new token POL , which has been experiencing significant price movements and technical upgrades over the last 12 hours. Currently trading at $0.45 , POL saw a 15% price surge following its listing on Binance for spot and perpetual contract trading​( CryptoPotato )​( markets.businessinsider.com ).
Key Market Developments:
MATIC to POL Migration : On September 4, 2024 , Polygon completed its much-anticipated upgrade from MATIC to POL as part of the network’s transition to Polygon 2.0 . POL now serves as the native gas and staking token across the network’s proof-of-stake (PoS) blockchain . Additionally, POL introduces a new 2% annual emission rate designed to fuel its role in securing the network and generating additional revenue from decentralized activities​( CryptoPotato )​( Cointelegraph ).
Binance Listing :
Binance’s recent listing of POL for spot and perpetual contracts has driven considerable trading volume and attention, making it one of the best-performing tokens over the past 24 hours​( markets.businessinsider.com ). This listing has bolstered the token’s visibility and provided fresh momentum for its price, contributing to the 15% rally .
Polygon 2.0 Vision :
The upgrade is part of the broader Polygon 2.0 vision, which aims to enhance scalability and unify liquidity across different blockchains using its AggLayer . POL is expected to play a vital role in block generation, staking, and zero-knowledge proof generation, positioning Polygon as a leading solution for layer-2 scaling​( The Daily Hodl ).
Read More: https://onthenode.com/cryptocurrency/polygon-pol-rallies-on-binance-listing-and-major-upgrade-set-to-power-polygon-2-0-ecosystem
Comprehensive Brief:
Polygon (formerly MATIC ) has officially transitioned to its new token POL , which has been experiencing significant price movements and technical upgrades over the last 12 hours. Currently trading at $0.45 , POL saw a 15% price surge following its listing on Binance for spot and perpetual contract trading​( CryptoPotato )​( markets.businessinsider.com ).
Key Market Developments:
MATIC to POL Migration : On September 4, 2024 , Polygon completed its much-anticipated upgrade from MATIC to POL as part of the network’s transition to Polygon 2.0 . POL now serves as the native gas and staking token across the network’s proof-of-stake (PoS) blockchain . Additionally, POL introduces a new 2% annual emission rate designed to fuel its role in securing the network and generating additional revenue from decentralized activities​( CryptoPotato )​( Cointelegraph ).
Binance Listing :
Binance’s recent listing of POL for spot and perpetual contracts has driven considerable trading volume and attention, making it one of the best-performing tokens over the past 24 hours​( markets.businessinsider.com ). This listing has bolstered the token’s visibility and provided fresh momentum for its price, contributing to the 15% rally .
Polygon 2.0 Vision :
The upgrade is part of the broader Polygon 2.0 vision, which aims to enhance scalability and unify liquidity across different blockchains using its AggLayer . POL is expected to play a vital role in block generation, staking, and zero-knowledge proof generation, positioning Polygon as a leading solution for layer-2 scaling​( The Daily Hodl ).
Read More: https://onthenode.com/cryptocurrency/polygon-pol-rallies-on-binance-listing-and-major-upgrade-set-to-power-polygon-2-0-ecosystem
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