Coinbase Adds Support For Polygon Ecosystem Token, POL Price Soars 15%
Highlights
- Coinbase adds Polygon Ecosystem Token (POL) to its roadmap, sparking market interest.
- POL price surges 15% following Coinbase's announcement of support.
- Coinbase to migrate Polygon ticker from MATIC to POL on August 26.
The leading crypto Coinbase has added Polygon Ecosystem Token to its roadmap today, following which the POL price soared over 15%. The exchange also announced that it would be supporting POL on both Polygon and Ethereum networks, fueling market interests. In addition, in a separate announcement, the crypto exchange said that it will migrate the Polygon ticker from MATIC to POL on the Polygon network.
Coinbase Expands Support For Polygon Ecosystem Token
The latest decision by Coinbase to add Polygon Ecosystem Token (POL) to its roadmap marks a significant step by the crypto exchange. The Polygon community seems to have lauded the announcement, as evidenced by the soaring prices of the POL and MATIC tokens.
The exchange started supporting POL on both Polygon and Ethereum networks, enhancing the utility and accessibility of the token for its users. Notably, the “roadmap” listing by the exchange is a replacement for the “assets under consideration” section, which aims to streamline the asset listing process and provide clearer guidance for users.
Meanwhile, the integration of POL marks a significant transition for the Polygon network. In addition, the crypto exchange has announced that it will migrate the Polygon ticker from MATIC to POL on the Polygon network starting August 26.
This ticker change is one of the critical steps in the network’s evolution, and the exchange has advised users to avoid depositing MATIC on Polygon PoS to prevent any disruptions. Notably, trading and transfers for MATIC will be temporarily disabled on the Polygon network between August 26 and September 10 to facilitate a smooth transition, the exchange said.
The exchange has assured users that those who have staked MATIC through the crypto exchange will continue to receive staking rewards, even as the migration to POL takes place. This move by one of the top crypto exchanges is expected to enhance the liquidity and usability of POL, positioning it as a key asset within the crypto ecosystem.
POL And MATIC Prices Rally
The addition of POL to Coinbase’s roadmap has sparked a positive market reaction, as evidenced by the surge in the tokens’ prices. As of writing, POL price jumped 15% to $0.5251, with its trading volume skyrocketing 115% to $944,379.
Simultaneously, the MATIC price jumped about 16% to $0.5252, with its trading volume soaring 90% to $406.73 million. In addition, a recent Polygon price analysis indicates that the crypto could target the $0.60 level next.
Meanwhile, as the exchange prepares to fully migrate from MATIC to POL, the exchange has outlined a detailed plan to ensure a smooth transition for its users. The migration is set to be completed in the coming months, with Coinbase providing updates on the timeline and process.
During this period, trading for both MATIC and POL on Ethereum will continue, ensuring that users have access to their assets without interruption.
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- ‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications
- Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model
- Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH
- Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
