- Polygon (POL) recorded a 9% jump in early U.S. trading, reaching $0.225 before encountering heavy selling.
- Trading volumes more than doubled compared to the 24-hour average, signaling high market activity.
- POL currently trades at $0.221, showing a 3% gain over the past 24 hours and surpassing broader crypto market performance.
- The token remains down over 90% from its all-time high of $2.92, set in December 2021.
- Polygon is focusing on projects like AggLayer and advancing real-world asset tools under new CEO Sandeep Nailwal.
Polygon (POL) saw a sharp rise of 9% early Thursday morning in the U.S., as trading pushed its price from $0.206 to $0.225. The gains triggered a wave of selling in the afternoon, according to analytics from CoinDesk.
Trading volume for POL surged to 708,489 and then 804,401 units in the overnight session, more than doubling the token’s 24-hour average of 410,606 units. This high market activity set a key resistance level for short-term price movement.
POL now trades at $0.221, holding about a 3% gain over the last 24 hours. The token is also outperforming the CoinDesk 20 Index, which dropped by 2.4% during the same period.
Despite Thursday’s increase, POL’s current price is over 90% lower than its December 2021 all-time high of $2.92. By comparison, other cryptocurrencies like Bitcoin (BTC) and XRP have seen record highs recently.
Polygon’s CEO and co-founder Sandeep Nailwal told Bloomberg that the company is focusing on scaling AggLayer, a tool for connecting users to other blockchains. The firm is also working on developing payment infrastructure and tools that support real-world assets.
Nailwal was appointed CEO of the Polygon Foundation in June. His leadership aims to strengthen the organization’s position as competition among blockchain projects grows.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Jim Cramer Sees Amazon Stock Dip as Buying Opportunity Despite Q3 Warning
- Stablecoin Market Surges After Trump Signs GENIUS Act Into Law
- Galaxy Digital Sells 80,000 BTC as Firms Boost Bitcoin Demand
- ClickFix Social Engineering Scam Surges, Replaces Browser Threats
- Ethereum Eyes Major Overhaul With ‘Lean’ Code for Speed, Security
