Today, Sept. 14, 2024, Polygon's new asset POL became the best performing asset in the top 100 cryptocurrencies by market cap. This impressive spike was triggered by the fact that POL is now available on the world's largest cryptocurrency exchange Binance in pairs with USDT, USDC, and so on.
POL posts double-digit gains after Binance upgrade
In a few hours, the price of the new asset spiked from $0.377 to $0.43. By printing time, POL rates on leading spot exchanges stabilized at around $0.41 after a small retracement. As of now, Binance's POL/USDT pair is responsible for 33% of the new token's trading volume, while the pairs on Bybit, OKX and Gate.io constitute 15% combined. Also, some exchanges launched POL trading in fiat pairs. Binance offers trading for the new coin against Turkish Liras (TRY), Brazilian Rials (BRL), USD and EUR, while GoPax and Upbit listed POL in pairs with Korean Won (KRW). Polygon's token upgrade was also finalized by Coinbase, a leading U.S. crypto exchange.
MATIC-to-POL transition paves path for Agglayer
As covered by U.Today previously, the migration of the MATIC token to POL is the most impressive milestone for Polygon in 2024. Once its final phase started on Sept. 4, 2024, Polygon Network became one step closer to its vision of Agglayer, an upcoming ecosystem of interconnected heterogeneous blockchains. POL will serve as the gas token for the new network, the basis of its staking design and incentives tool. The migration from MATIC to POL was largely handled by services with no need for any action from holders.
Polygon's POL shows remarkable performance on the crypto market after trading launch on Binance and other major exchanges. The migration from MATIC to POL has become a significant event for the development of the future Agglayer ecosystem, making POL a notable asset in the crypto world.
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