POL, a brand-new asset of the largest PoS ecosystem Polygon, jumps into the best performers in the top 100 cryptos. Major crypto exchanges, including Binance (BNB), OKX, Bybit and Upbit, have already enabled POL trading as well as some large Tier 2 platforms.

POL posts double-digit gains after Binance (BNB) finalizes upgrade

Today, Sept. 14, 2024, Polygon's POL was the best performing asset in the top 100 of cryptocurrencies by market cap. Such an impressive spike was triggered by the fact that POL is now available on the world's largest cryptocurrency exchange Binance (BNB) in pairs with USDT, USDC and so on.

Image by CoinGecko

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, Polygon Network became one step closer to its vision of Agglayer, an upcoming ecosystem of interconnected heterogeneous blockchains.

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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.