Polygon (POL) Skyrockets 15% As Binance Announcement Sparks Optimism

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As a seasoned crypto investor with years of experience under my belt, I can confidently say that Binance’s decision to add Polygon (POL) to its array of offerings is nothing short of a game-changer. Having witnessed similar events boost the prices of other tokens, such as AERGO, I find myself feeling quite optimistic about POL’s future price movements.

On Friday, Polygon‘s native token POL (formerly known as MATIC) garnered a surge of investor interest following Binance‘s important announcement. Specifically, Binance disclosed their intentions to incorporate the token into Earn, Buy Crypto, Convert, Margin, and Futures services, sparking enthusiasm about potential increases in the coin’s value. At the same time, POL’s price soared approximately 15% after Binance announced several upcoming listings for the token.

Binance Adds Polygon To Its Stockpile Of Offerings

On September 13th, Binance officially declared an expansion of support for various Polygon (POL) listings as per their announcement. From the same date (September 13th, 10 UTC), users can start earning with flexible and locked POL products. Additionally, starting September 16th at 10 UTC, users will be able to buy this asset using any of the auto-invest supported payment methods.

Furthermore, users now have the option to purchase cryptocurrency using VISA, MasterCard, Google Pay, or Apple Pay, according to the CEX’s statement. Additionally, Polygon has been announced as a new asset that can be borrowed on Cross and Isolated margins. As of 12 UTC today, users can trade POL/USDT, POL/USDC, and POL/FDUSD pairs on both Cross and Isolated Margin trading platforms.

Today at 12:15 UTC, the leading cryptocurrency exchange is introducing a USD-Margined perpetual contract for Polygon. This contract offers users up to 75 times leverage when trading this asset. The initial maximum funding rate for the POLUSDT Perpetual Contract upon launch is set at +2.00% on the long side and -2.00% on the short side, as per the announcement.

Simultaneously, the crypto exchange disclosed that it has completed the Polygon (MATIC) token upgrade known as POL. Trading of POL against BNB, BRL, BTC, ETH, EUR, FDUSD, JPY, TRY, USDC, and USDT pairs begins today at 10 UTC.

All in all, the crypto exchange’s proposals to strengthen its POL services sparked a lot of positive anticipation among investors about the token.

POL Token Soars 15%

Currently, the value of POL has significantly increased by almost 15%, reaching a trading price of $0.4341. During the day’s trading, its lowest and highest points were recorded at $0.372 and $0.4219, respectively.

Yesterday saw an enormous 622% increase in trading volume for Polygon, as indicated by its 24-hour figures. Additionally, the value of the coin’s market cap rose by 15%, reaching a significant $3.08 billion. This surge suggests that there has been a growing level of investor interest in this particular asset.

It’s quite interesting that the price increase we see now seems closely related to the listings of Binance, as mentioned earlier. Recall that when AERGO was listed for futures trading on a major exchange on September 10, its price skyrocketed significantly. To date, AERGO has risen approximately 9%, which has fueled optimism about potential price changes in POL.

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2024-09-13 16:42