bullish

Future

Token

Polygon

<ul class="wp-block-list">
 <li>POL token surges 9.3% as whale activity increases.</li>
 <li>Significant Binance and OKEx transfers boost POL’s bullish outlook.</li>
</ul>
In a market subdued by slow activity, Polygon’s native token, POL (formerly MATIC), has emerged as a standout performer. The token recently reached a 12-day high of $0.4219, recovering from a prolonged bearish phase. As of the latest data, POL is trading at $0.4141, marking a notable 9.3% increase in the past 24 hours. The daily trading volume has surged by 370% since the transition to POL.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXca-v1jAahjcQPvYDQpiw2l3Bplf3GYGprXl1efx8VvvDnSFcLZCZ01Jq7r9j7aHOPoR8EyXzEytvEBJCOww4Be1llw8oJN3vplZblqk7kp181yf_0IOvr3uQFHpzPlxRvqmCC3Yp7LA4gk1bFjlIxJN38p?key=EoJBGxXkOFAq72xMJl6hVg" alt="">
 <figcaption class="wp-element-caption">
 POL Price Chart, Source: Sanbase
 </figcaption>
 </figure>
</div>
The recent uptick in POL’s <a href="https://coinmarketcap.com/currencies/polygon-ecosystem-token/" target="_blank" rel="noopener noreferrer nofollow">price</a> is accompanied by increased <a href="https://thenewscrypto.com/is-whale-activity-driving-bitcoin-bearish-trend/" target="_blank" rel="noopener noreferrer nofollow">whale</a> activity. Major exchanges Binance and OKEx have seen significant transactions involving Polygon’s tokens. On Binance, two transfers of 200 million MATIC each were recorded, while OKEx processed a transfer of 30 million <a href="https://thenewscrypto.com/pol-ex-matic-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">MATIC</a>. These transactions are valued at approximately $154.3 million and $11.45 million, respectively.
Moreover, On-chain metrics further support a bullish outlook for POL. Net network growth stands at 0.33%, while the concentration of large holders is at 0.25%, and large transactions have risen by 2.92%.
<h3 class="wp-block-heading" id="h-transitions-and-future-price">Transitions And Future Price</h3>
The migration to POL, which began on September 4, 2024, is a critical component of the Polygon 2.0 upgrade. First introduced in mid-2023, this upgrade aims to enhance scalability, security, and functionality within the Polygon network. POL, replacing MATIC, is now used for gas fees and staking and introduces multi-chain staking.
The transition has spurred significant activity among traders, with over 1 billion tokens migrated on September 10 alone. The total migration now stands at 6.5 billion tokens. Tom Wan, a strategist at 21.co, noted that the migration ratio has reached 64.8%.
Meanwhile, the daily chart for POL shows a <a href="https://in.tradingview.com/chart/EJXIwxE9/?symbol=COINBASE%3AMATICUSDT" rel="noopener noreferrer nofollow">bullish</a> trend, with the 9-day Exponential Moving Average at $0.418. The Relative Strength Index (RSI) is neutral at 50. Should the bullish momentum persist, resistance levels at $0.465 and $0.574 may be tested.&nbsp;
Conversely, a continued bearish trend could see a drop to $0.361, with support potentially at $0.340.
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Polygon Native Token POL Surges 10% Amidst Market Slump

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