The Polygon Network recently underwent a technical upgrade to migrate their native token from MATIC to POL. Following the migration, the new token’s price struggled to gain momentum, failing to reclaim the $0.39 resistance level. However, Binance’s recent listing of POL has pumped its price above key levels.

Binance Completes Polygon Token Migration

On Friday morning, global exchange Binance completed the token migration from MATIC to POL. The exchange had stated it would support Polygon’s token swap by delisting all MATIC trading pairs and suspending deposits and withdrawals on September 10.

Additionally, the platform revealed it would add POL spot trading pairs on September 13, at 10:00 (UTC). The pairs included POL/BNB, POL/BRL, POL/BTC, POL/ETH, POL/EUR, POL/FDUSD, POL/JPY, POL/TRY, POL/USDC, and POL/USDT.

Polygon’s token migration on September 4 marked a “critical juncture” for the network, aiming to enhance utility and align with “the vision as an aggregated network of blockchains.” The upgrade seeks to improve the platform’s tokenomics to make it more attractive for users and validators.

Moreover, POL will serve as a “hyperproductive token,” acting as the native gas and staking token on Polygon and supporting its “future expansion and security as an aggregated network.”

After delisting MATIC, Binance announced the completion of the token swap, listing Polygon’s new token on Friday. The global exchange also unveiled that POL would be added to Binance Simple Earn, “Buy Crypto”, and Binance Convert.