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Home»ADOPTION NEWS»Polygon’s POL Token Surges After Binance Listing, MATIC Migration Ends
ADOPTION NEWS

Polygon’s POL Token Surges After Binance Listing, MATIC Migration Ends

By Crypto FlexsSeptember 14, 20242 Mins Read
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Polygon’s POL Token Surges After Binance Listing, MATIC Migration Ends
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The overall cryptocurrency market had a relatively stable day, but polygon Matic

+4.41%
‘s POL token surged more than 15% Friday morning. The move appears to be related to POL being listed on Binance, the world’s largest cryptocurrency exchange, marking the unofficial end of POL. MATIC Migration.

In July, Polygon announced that after a year of community-driven discussions, the MATIC token would be upgraded to POL on September 4th.

This change makes POL the new ticker symbol for the native gas and staking token for the Polygon PoS chain, a proof-of-stake sidechain for Ethereum that is compatible with the EVM.

“The transition to POL is a critical component for the project as it develops on the ZK chain and integrates with AggLayer, which aims to unify liquidity and state across multiple chains,” wrote Vishal Chawla of The Block. “POL will maintain MATIC’s existing token economics and 10 billion token supply.”

According to The Block’s POL price page, POL is up 12.7% and trading at $0.42, giving it a market cap of $3 billion. Meanwhile, the GMCI 30, a selection of the top 30 cryptocurrencies, is up 1.5%.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Jason is the U.S. News Editor for The Block. He previously worked as a staff writer and later as an editor at Benzinga, a financial news and data company. He led Benzinga’s daily market coverage and the publication’s expansion into cannabis, cryptocurrency, and sports betting verticals. He holds a bachelor’s degree in journalism from Central Michigan University and lives in the suburbs of Detroit, Michigan. Follow him on X @JasonShubnell.

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