The crypto market witnessed a surge in activity as Polygon Ecosystem Token (POL), formerly known as MATIC, secured listings on major exchanges. The token’s price rose after announcements from Binance and Phemex.
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New Listings Boost POL’s Market Presence
Crypto Exchange Listing Bot reported that POL has been listed on Binance, one of the largest crypto exchanges globally. This development interested traders and investors.
Phemex, another prominent exchange, announced the addition of POL to its platform. The exchange introduced POL as a USDT-margined spot trading pair, set to begin on September 13, 2024. This multi-exchange listing strategy has increased POL’s accessibility to a broader range of traders.
Price Performance and Trading Volume
Per CoinGecko data at press time, POL trades at $0.4065, marking a notable increase. The has risen by 6.83% in the last day and 9.97% increase over the past week.
Trading volume for POL hit $33,328,968 in the 24-hour period, indicating strong market interest following the new exchange listings. This uptick in both price and volume suggests growing trader engagement with the token.
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Token Conversion and Ecosystem Transition
TerraNewsEN reported that MATIC tokens have automatically converted to POL. This transition affects holders across various platforms, including BinanceTR, where the conversion process has been completed.
The shift from MATIC to POL represents a significant change for the Polygon network. This rebranding and token update aim to align with the project’s evolving ecosystem and future development plans.
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