Binance announced support for the Polygon (MATIC) token swap to Polygon (POL), which is expected to take place in September 2024. This move is in response to a major transformation of the Polygon network, but MATIC prices are still on a downward trend, despite increased market activity and analysts predicting a possible rebound. In addition, due to security issues, Binance will suspend related transactions and close all MATIC trading pairs, and users need to be cautious to prevent losses.
Key Points
- Binance will suspend all MATIC spot trading pairs and cancel all trading orders on September 10, 2024.
- MATIC tokens will be converted to POL at a 1:1 ratio on September 13, 2024 to ensure a smooth transition for users.
- The Polygon community Discord channel was recently hacked, increasing user security concerns.
- Deposits and withdrawals of MATIC will be stopped on September 10, 2024, and users need to complete outstanding deposits in advance.
- From September 4, 2024, MATIC's futures contracts will be automatically closed and settled, and users should close their positions in advance.
- Despite the overall decline in the market, MATIC's on-chain activity showed signs of a possible rebound, with active addresses reaching the second highest level of the year.
- Market analysts believe that if MATIC can stabilize above $0.5065, it may trigger a rebound target of $0.65.
$MATIC #MATIC✅.

The plane crashed when the market was booming. It was a good time to choose.