Coinbase Supports Polygon Ecosystem Token: POL Price Soars 15%

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Coinbase Expands Support for Polygon Token
  2. POL and MATIC Prices Rally
  3. Token Migration Plan


    4. Coinbase has added the Polygon Ecosystem Token (POL) to its roadmap, leading to a more than 15% surge in POL price. The exchange also announced support for POL on the Polygon and Ethereum networks.

    Coinbase Expands Support for Polygon Token

    Coinbase's decision to add the Polygon Ecosystem Token (POL) to its roadmap marks a significant step for the crypto exchange. The Polygon community seems to have welcomed the announcement, as evidenced by the rising prices of POL and MATIC tokens. The exchange has started supporting POL on both Polygon and Ethereum networks, enhancing the utility and accessibility of the token for users. Notably, the 'roadmap' listing by the exchange replaces the 'assets under consideration' section, aimed at streamlining the asset listing process and offering clearer guidance for users.

    POL and MATIC Prices Rally

    The addition of POL to Coinbase’s roadmap has sparked a positive market reaction, as evidenced by the surge in token prices. As of writing, the POL price jumped 15% to $0.5251, with trading volumes soaring 115% to $944,379. Simultaneously, the MATIC price increased by about 16% to $0.5252, with trading volumes up 90% to $406.73 million. The cryptocurrency is expected to target the $0.60 level next.

    Token Migration Plan

    In addition to adding POL, Coinbase has announced a migration of the Polygon ticker from MATIC to POL on the Polygon network starting August 26. The exchange advises users to avoid depositing MATIC on Polygon PoS to prevent disruptions. Trading and transfers for MATIC will be temporarily disabled on the Polygon network from August 26 to September 10 to facilitate the transition. Users staking MATIC through the exchange will continue to receive staking rewards during the migration to POL. This move by one of the leading crypto exchanges is expected to enhance the liquidity and usability of POL, positioning it as a key asset within the crypto ecosystem.

    The addition of the Polygon Ecosystem Token (POL) to Coinbase’s roadmap has positively impacted the market, causing token prices to rise. The upcoming migration of the ticker from MATIC to POL is also set to improve POL's liquidity and utility.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bitcoin Faces Major Decline Following Hot CPI Data

Bitcoin has dropped significantly, trading at just over $69,300 after the latest consumer price index results came in hotter than expected.

user avatarMaria Fernandez

AI Agents May Become New Bitcoin Users with pi402

The introduction of pi402 may lead to autonomous AI agents becoming a new category of Bitcoin users.

user avatarGustavo Mendoza

Lightning Labs Unveils New Bitcoin Payment Technology for AI Agents

Lightning Labs has launched pi402, a new technology enabling AI coding agents to make payments directly using Bitcoin.

user avatarRajesh Kumar

Chainstack Expands Incident Report on Security Breach

Chainstack has updated its incident report detailing an October security breach caused by access control failures.

user avatarMiguel Rodriguez

Sygnum Launches ETH Alpha Fund Targeting 8-10% Annual Returns

Sygnum has launched its ETH Alpha Fund targeting annual returns of 8-10% for professional investors, combining staking with various strategies.

user avatarLuis Flores

Chainlink and Moody's Ratings Complete Crosschain Distribution Pilot

Chainlink and Moody's Ratings have successfully completed a pilot project utilizing the CrossChain Interoperability Protocol to distribute credit information across multiple networks.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.