Share this article
Polygon's POL (MATIC) Token Spikes 15% on Binance Listing
Polygon introduced last week POL. the upgraded version the network's token, migrating from its longstanding MATIC with some tokenomics changes.
Updated Sep 13, 2024, 2:54 p.m. Published Sep 13, 2024, 2:44 p.m.
Polygon's native token POL surged 15% on Friday as crypto exchange giant Binance said it added spot and perpetual contracts trading with the token to its platforms, marking the completion of the token's upgrade and rebrand from the longstanding MATIC.
POL jumped to nearly $0.45 from around $0.38 earlier today, hitting its highest price since late August. It has retraced some if its gains recently, but the token is still up 15% over the past 24 hours, outperforming the roughly flat bitcoin . It also was the best performing asset in the broad-market benchmark CoinDesk 20 Index during this period.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Polygon introduced last week the upgraded version the network's token, POL, migrating from its longstanding token MATIC. The transition also brought some changes in tokenomics, introducing a new token emission rate of 2% annually.
Read more: Polygon to Start Much-Awaited Swap of POL Token for Longstanding MATIC
The new ticker also might have some psychological influence, offering a fresh chart to crypto traders for their technical analysis, which could explain large part of Friday's price action.
"Full MATIC-POL spot migration had already happened, but new charts are multiples more important," crypto analyst DeFiyst noted. "First successful big token migration we've seen in a while, expect other projects to follow."
$POL being lifted on the fresh perp listing is refreshing to see (+18%).
— DeFiyst (@DeFiyst) September 13, 2024
Full $MATIC -> $POL spot migration had already happened, but new charts are multiples more important.
First successful big token migration we've seen in a while, expect other projects to follow. pic.twitter.com/UdDq5EAGoc
UPDATE (Sep. 13, 14:52 UTC): Adds that Binance listed spot and perpetual contracts with POL on Friday.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Rebounds to $93K From Post-Fed Lows, but Altcoins Remain Under Pressure
Downward pressure on bitcoin is losing steam, with the market stabilizing but not yet out of the woods, said one analyst.
What to know:
- Bitcoin rebounded from a sharp early selloff on Thursday to trade above $93,000 shortly after the close of U.S. stocks.
- The late-day gain in bitcoin came alongside a rebound in the Nasdaq from big morning losses; the tech index closed with just a 0.25% loss.
- Downward pressure on bitcoin is losing steam, said one analyst, but the market is not yet out of the woods.
Top Stories
