New Update: Polygon replaces MATIC with POL

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. POL Token Migration
  2. POL Price Analysis
  3. Future Prospects


    4. A few days ago, the Polygon network completed its much-awaited migration, wherein POL replaced MATIC as the native gas and staking token.

    POL Token Migration

    The newly launched POL is expected to play a crucial role in AggLayer, and the community could decide to expand its utility in subsequent phases. While MATIC on the Polygon zkEVM will be automatically swapped to POL on a 1:1 basis, tokens on Ethereum and other chains require a manual migration.

    POL Price Analysis

    The POL price remained stuck under $0.4 until traders jumped in with a massive influx of buying volume. This led to a quick upswing after the volume soared above $70 million, halting the ongoing descending trend. Technical indicators suggest the possibility of reclaiming $0.5 if bulls can sustain a bullish close above $0.44.

    Future Prospects

    The price is attempting to set a parabolic curve, supported by ascending RSI and MACD nearing a parabolic crossover. The steep rise in volume implies high trader confidence, indicating that the POL price may maintain a steep upswing and rise above $0.57. However, the token might face a pullback before reaching the pivotal $0.6 zone. The upcoming quarter is expected to retain strong bullish momentum, potentially pushing POL above the $1 milestone, escaping the bearish influence.

    In conclusion, the migration to the new POL token and the current technical analysis point to positive future prospects for the token's price. Investors and traders will closely monitor further market developments.

Tier I

Sector: #18291

Sealed Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

OpenAI Launches New Agentic Browser Feature for ChatGPT Work

chest

OpenAI has launched a new agentic browser feature in ChatGPT Work, allowing the AI to manage tasks on login-protected sites while maintaining session persistence.

user avatarAyman Ben Youssef

Surge in AI-Generated Vulnerabilities Threatens Bitcoin Security

chest

The Bitcoin Red Team reports a surge in AI-assisted vulnerability findings across Bitcoin projects, highlighting the urgency of addressing security flaws.

user avatarTando Nkube

Core Lightning Developers Issue Urgent Warning on Vulnerabilities

chest

Core Lightning developers issue critical warning to node operators about vulnerabilities in AI-generated security reports, urging prompt updates or offline operation to secure payment channels.

user avatarKofi Adjeman

Experts Warn Against Short-Term Predictions for Bitcoin Prices

chest

Experts warn against over-reliance on single-day ETF flows for predicting Bitcoin prices, emphasizing long-term trends.

user avatarNguyen Van Long

Dormant Bitcoin Wallets Come to Life

chest

Six dormant Bitcoin wallets have moved a total of 55,359 BTC, worth approximately $40.15 million, between August 16 and August 26.

user avatarSatoshi Nakamura

SEC Proposes New Rules for Crypto Custody Regulations

chest

The SEC has proposed new rules to modernize crypto custody regulations for investment advisers and companies.

user avatarJesper Sørensen

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.