Binance helps Polygon token upgrade, POL price soars 16.6%
With the successful completion of the technical migration of its native token from MATIC to POL, the blockchain platform has ushered in an important development milestone. Although the new token POL did not quickly break through the resistance level of $0.39 in price at the beginning of the migration, showing a certain market adjustment pressure, the timely intervention of Binance Exchange later injected strong momentum into it.
Last Friday morning, Binance, the world's leading cryptocurrency trading platform, officially completed the token migration process from MATIC to POL. To cooperate with this migration, Binance announced that it would stop trading services for all MATIC trading pairs from September 10, and suspend related deposit and withdrawal functions to ensure that users can smoothly transition to the new token system.
Immediately afterwards, Binance officially launched multiple POL spot trading pairs including POL/BNB, POL/BRL, POL/BTC, POL/ETH, etc. on September 13 (UTC 10:00), providing users with a wealth of trading options. This move not only marks the official debut of POL on mainstream exchanges, but also heralds a significant increase in its market liquidity and recognition.
Polygon's token migration is regarded as a "key turning point" in its development history, aiming to further enhance the platform's practicality and attractiveness by optimizing the token economic model to better realize its vision as a "blockchain aggregation network". The upgraded POL token is designed as an "efficient token" that will not only serve as the native gas fee and staking token on the Polygon network, but will also support its future expansion and security performance improvement, laying a solid foundation for the development of the entire ecosystem.
With the official delisting of MATIC and the official launch of POL, Binance also announced that POL will be included in its Binance Simple Earn, "Buy Crypto" and Binance Convert service platforms, further enhancing the usability and investment value of POL. This series of positive measures has undoubtedly injected strong confidence into the future development of Polygon, and also prompted the price of POL tokens to achieve a significant increase in the market, with the increase reaching 16.6% at one point.
