Share this article
Polygon’s Token Gains 3% After Seeing ‘Exceptional’ Trading Volume
The token was trading at $0.1891 at press time, up 2.8% over the last 24 hours.
Jul 8, 2025, 7:45 p.m.
What to know:
- Polygon’s POL (previously MATIC) token rose nearly 3% to $0.189, outperforming the CoinDesk 20 Index after forming multiple support zones.
- Trading volume spiked to over 597,000, far above its daily average, signaling strong institutional activity during the rally.
- Technical patterns show higher lows and tight price compression near $0.189, hinting at an upcoming breakout from market equilibrium.
Polygon’s native token POL (previously MATIC) rose nearly 3% over the past 24 hours, outperforming the broader market, after establishing multiple support zones, according to CoinDesk Research's technical analysis data.
The token climbed from $0.184 to $0.189 with a trading range of $0.0082 (4.28%), reflecting constructive volatility patterns, according to the model.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The token built solid support foundations within the $0.183 to $0.184 corridor, where buyers consistently emerged. Exceptional volume activity up to 597,718 substantially surpassed the daily average of 189,000, indicating robust institutional engagement during rally phases and confirming successful penetration above $0.187 resistance, the model showed.
The technical landscape also shows progressive higher lows between $0.1890-$0.1892, indicating foundational support strength, while overhead resistance persists around $0.1897, establishing a compressed trading band that reflects market equilibrium before potential directional resolution.
The token outperformed the broader crypto market as measured by the CoinDesk 20 Index, which rose about 1.7% over the same period.
The move comes amid recent announcement of Polygon PoS’s consensus layer, Heimdall v2, landing 10 July 2025, according to the foundation's CEO. "This is the most technically complex hard-fork Polygon PoS has seen since it's launch in 2020," he said in an X post.
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 Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
