Polygon’s native token, POL, showed strong performance in early U.S. trading, with gains that briefly pushed the price up by 9%, before retracing due to profit-taking. Despite the pullback, POL is holding onto a solid 3% daily gain, outperforming the broader crypto market.
POL Sees Above-Average Volume and Intraday Rally
In the early hours of U.S. trading, POL surged from $0.206 to a high of $0.225, according to market data. The move was accompanied by volume spikes between 708,000 and 804,000 units, nearly double the 24-hour average of 410,000. However, selling pressure emerged in the afternoon, leading to a minor retreat in price.
The token is now trading at $0.221, still representing a 3% increase over the past 24 hours, while major indexes like the CoinDesk 20 dropped by 2.4% during the same period. This positions Polygon as one of the day’s stronger performers.
POL Still 90% Below All-Time High
Despite the recent uptick, POL remains down over 90% from its all-time high of $2.92, recorded in December 2021. The token’s performance has lagged behind broader recoveries seen in major cryptocurrencies like Bitcoin and XRP, which have recently pushed to multi-month highs.
Focus Shifts to Cross-Chain Scaling and Real-World Assets
Polygon’s development team is currently focused on expanding its AggLayer platform, a tool designed to enable seamless cross-chain interactions. According to its leadership, the project is also prioritizing payment infrastructure and real-world asset integrations as key growth areas.
These initiatives reflect Polygon’s long-term pivot toward scalability and practical blockchain utility, aiming to carve out a leadership position in Layer 2 technology.
Conclusion: Polygon Defies Market Drop
While the broader market remains under pressure, Polygon’s short-term price movement and rising volume suggest growing investor interest. If development efforts around AggLayer and real-world applications continue to gain traction, POL could attract further institutional and retail demand.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.