The platform aims to close the cash yield gap between Europe and the U.S., projecting to reach $1 billion in AUM by the end of the year.
Polygon’s Proof-of-Stake (PoS) network will undergo a major consensus upgrade with the rollout of Heimdall v2 on July 10. Sandeep Nailwal, Polygon’s co-founder, described it as the most technically advanced hard fork the chain has undertaken since its launch in 2020. Following the announcement, the network’s native token, POL, gained nearly 10% within 24 hours, […]
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Polygon is set to implement the Heimdall v2 upgrade on July 10, described as the most complex hard fork since Polygon PoS launched.
The token was trading at $0.1891 at press time, up 2.8% over the last 24 hours.
Following its private mainnet launch in May, Katana has over $240 million in pre-deposits that is already being used to earn yields.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Polygon co-founder Jordi Baylina announced Zisk as new foundation CEO Sandeep Nailwal pivots resources to Polygon PoS and Agglayer.
Also: EF Treasury Policy, Increase of OP_CAT Data Limit, and Plume Genesis Goes Live.
Polygon’s governance is undergoing a significant transformation, with co-founder Sandeep Nailwal stepping in as the Foundation’s first CEO. In a June 11 post on X, Nailwal said: “As the largest holder of POL and someone who dedicated his life to development and success of Polygon from the very beginning, I have decided to take full […]
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Nailwal will steer the Polygon Foundation as it shuts down zkEVM, doubles down on PoS, and plots a return to Ethereum scaling dominance.
Nailwal announced plans to double down on Polygon's Agglayer and PoS networks and the deprecation of Polygon zkEVM.
Katana aims to improve blockchain liquidity — including lending, trading, and yield bearing strategies — by integrating with popular apps like Sushi and Morpho.
Polygon, initially known as Matic, was founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun.
Polygon founder Mihailo Bjelic is stepping back from the project he helped create, according to an announcement on Friday.
Sandeep Nailwal, co-founder of Polygon, has flagged a troubling rise in deepfake scams using his likeness to deceive crypto founders. Polygon is one of the largest Ethereum layer-2 networks. In a May 13 social media post on X, Nailwal said several individuals recently reached out to verify if he had spoken with them over Zoom. […]
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Polygon’s price action over the past week has been characterized by a moderate pullback following what initially appeared to be a decisive breakout above the $0.20 level. This dip, rather than signaling weakness, may in fact represent a healthy retracement as the cryptocurrency prepares for a new upward move. The price structure appears bullish on higher timeframes, especially after POL recently rebounded off the lower boundary of a long-term descending channel. According to a crypto analyst, Polygon could be on the verge of an explosive rally toward the $1 mark. Classic Bullish Divergence Points To Imminent Breakout According to technical analyst MasterAnanda on TradingView, the Polygon ecosystem token (POLUSDT) is currently flashing one of the strongest technical reversal signals in the form of a textbook bullish divergence on the 3-day chart. Price action hit a new low on April 7, 2025, but the Relative Strength Index (RSI) had already bottomed earlier in July 2024 and has since been forming higher lows. Related Reading: Polygon (MATIC) To Come back From The Dead As Ascending Triangle Appears As noted by the analyst, this mismatch between the price and the momentum indicator is a classic signal that the downtrend may be losing steam. The signal is reinforced by the recent increase in volume and the broader bullish recovery observed across the cryptocurrency market. Zooming in on the 3-day chart structure, POLUSDT experienced a notable rebound after reaching its low on April 7. The price climbed steadily to $0.267 by April 22 before encountering resistance. What followed were two successive bearish candlesticks that appeared to trace a measured pullback, likely a retest of the upper boundary of the descending channel. This movement is significant because retests of this nature often precede major breakouts. Keeping this in mind, the analyst predicted a successful bounce from the trendline support, which could start a sustained rally toward $1. Polygon To $1: Window Of Opportunity Narrowing Analyst MasterAnanda noted that the current price action is merely a calm before a massive move. “The market is giving us one last chance to buy all we want before massive growth,” the analyst said, implying that a strong impulsive wave could be next. The RSI is currently in the mid-40s, and if the bullish setup plays out, a swift move to the 70+ zone could occur. Related Reading: Polygon Price Risks Plunge With 90 Million MATIC Tokens Selling At $0.5 In terms of a price target, the analyst predicted a full recovery above $1 with a specific target of $1.15. This would mark a full recovery for POL holders who have been holding throughout the downturn in 2025. This level corresponds to the 1.618 level on the Fib extension projected from the April 7 low. The Fibonacci extension levels plotted on the chart show other smaller price targets on the way to $1.15. Most notable are the $0.461 and $0.534 regions, representing the 0.5 and 0.618 extension levels, respectively, which could serve as interim consolidation zones. At the time of writing, Polygon is trading at $0.2420. Featured image from Adobe Stock, chart from Tradingview.com
The funding round was led by a16z crypto, 1kx and Hack VC.
Miden's seed round, structured as a SAFE with token warrants, was co-led by a16z crypto, 1kx and Hack VC, said Miden co-founder Azeem Khan.
Polygon is gaining renewed attention in the crypto market following a bullish breakout from a broadening wedge pattern, an encouraging technical formation that often precedes strong upward moves. After weeks of consolidation and choppy price action, POL has decisively moved above the pattern’s resistance line, breathing life back into its short-term outlook. The current momentum suggests that bulls may have their eyes set on the next key target at $0.31. With improving sentiment and technical indicators flashing bullish signals, POL appears poised to extend its recovery if buyers can sustain the pressure. From Consolidation To Acceleration: Polygon Phase Shifts In a recent tweet, Whales_Crypto_Trading highlighted a significant technical move on POL’s chart. Polygon is currently breaking above the upper boundary of a broadening wedge on the daily timeframe, which is usually a bullish signal that points to rising volatility and potential trend reversal. This pattern, widely watched by technical traders, suggests that POL may be gearing up for a sustained upside push. Related Reading: Nearly All POL Holders At A Loss—What Does It Mean For The Market? The analyst further noted that if momentum continues to build, POL could see a notable move toward the $0.52 mark. This level represents a midterm projection based on the size of the breakout from the wedge formation. A 2x gain from current levels would attract bullish attention and position POL back in line with previous consolidation zones. With the breakout accompanied by improving sentiment and growing volume, Polygon appears to be setting the stage for a stronger rally. Presently, speculations are whether bulls can maintain the price above the breakout level and continue defending short-term support. If that happens, POL’s next chapter could be defined by renewed momentum and wider investor interest. Measured Moves And Extended Targets While $0.31 stands as the immediate upside target following the breakout, the broadening wedge pattern hints that the Polygon rally may not stop there. Breakouts from such structures often extend beyond initial resistance zones, especially when supported by strong volume and positive momentum indicators. Related Reading: Polygon Q4 Digest: Agglayer Testnet Launch Drives 30% Spike In POL Market Cap If bullish pressure remains steady, the next areas to watch would be near $0.44 and $0.52, both of which align with previous reaction points and Fibonacci extensions. These levels could act as zones where short-term traders might take profits, but they also offer opportunities for the trend to build new higher highs. Despite the upward momentum surrounding POL’s breakout, risks still linger beneath the surface. One major concern is the possibility of a false breakout if the price fails to hold above the $0.31 mark, attracting strong selling pressure and trapping late buyers. This would invalidate the breakout and may trigger a swift pullback toward lower support levels. Featured image from Adobe Stock, chart from Tradingview.com
Successful “graduates” will send up to 15% of native token supply to POL stakers and connect to the Agglayer network.
The move follows sharp drops in user activity and total value locked on Polygon as Base’s usage climbs
The Aavegotchi community has voted to migrate from its existing deployment on Polygon to Base and sunset its Geist Layer 3.
The deal, proposed by Gauntlet, has drawn some criticism for essentially sidelining Compound and potential conflicts of interest.
Stakers will initially earn rewards in RED, with future potential for other assets like ETH, BTC, SOL and USDC.
The cross-chain “Inclusive Layer” makes it easier to launch consumer apps on Ethereum, its leading Layer 2s and Solana.
Ligero builds tools to simplify zero-knowledge proof development, deployment and scaling without compromising security or compliance.
In the fourth quarter of 2024, Polygon (formerly MATIC) experienced a significant mixed performance in key metrics, primarily driven by the testnet launch of its interoperability protocol, Agglayer. This new initiative aims to facilitate cross-chain token transfers and message-passing, enhancing the functionality and integration of various blockchain networks. Polygon Market Cap Rebounds To $3.8 Billion According to market intelligence firm Messari, by leveraging zero-knowledge (ZK) proofs, Agglayer promises secure communication and asset transfers, positioning itself as an innovative development akin to the introduction of TCP/IP in the early days of the internet. Agglayer is designed to unify disparate blockchain chains by aggregating proofs, verifying chain states, and settling transactions on Ethereum (ETH). Among its critical features are a unified bridge for seamless asset connectivity and a pessimistic proof mechanism that prioritizes safety. These advancements enable low-latency coordination and safe interoperability, allowing developers to concentrate on project design without the burdens of liquidity concerns. Related Reading: Bitcoin Whales Accumulate—Will This Push BTC Toward $100K? Despite these promising developments, POL’s journey in 2024 has been turbulent. After achieving an all-time high market capitalization of $12.9 billion in Q1, the subsequent quarters saw a sharp decline, with the market cap plummeting to $2.9 billion by the end of Q3, marking a 47.2% quarter-over-quarter (QoQ) drop. This downturn was partly due to the ongoing transition from MATIC to POL, which temporarily split market capitalization between the two tokens. However, as market conditions began to stabilize in Q4, the migration of MATIC tokens—1.38 billion in total—into POL resulted in a 31% QoQ increase in POL’s market capitalization, which reached $3.8 billion by the end of the quarter. Notably, 88.1% of the total supply had transitioned to POL, solidifying its position as the largest Ethereum Layer-2 token by market cap. DeFi And NFT Markets Struggle The enactment of EIP-4844 on the Polygon PoS mainnet in Q1 2024 introduced blobs, leading to a significant alteration in the cost structure for users. This update resulted in lower transaction fees, which dropped to just $0.01 during Q4. However, despite the reduced costs, total transactions on the Polygon network fell by 2% QoQ, and active addresses saw a sharp decline of 39.4%, averaging 523,000 daily users. The decrease in activity can be largely attributed to a downturn in the gaming sector, which had previously been a significant driver of user engagement. Average daily gaming active addresses plummeted to 54,000, marking a 66.7% QoQ decline. Related Reading: Bitcoin Price Falls Short Again—Is a Deeper Decline Coming? Polygon’s DeFi landscape also faced challenges, with total value locked (TVL) ending Q4 at $871.5 million—down 4.9% QoQ and 2.6% YoY. This decline saw Polygon slip from the tenth largest network by TVL to the twelfth. Moreover, NFT activity on the platform suffered, with average daily trading volume falling to $822,500, down 38.4% QoQ. Average daily NFT sales dropped to 21,000, a staggering 41.5% decrease. The gaming sector, previously the fastest-growing area within Polygon, continued to struggle in Q3 and Q4, largely due to a slowdown in popular titles. POL’s price has also faced notable challenges, with the token recording a significant 67% drop year-to-date as it currently trades at $0.30. Featured image from DALL-E, chart from TradingView.com
Initially launched as a Solana non-custodial wallet, Phantom now also supports the Bitcoin, Ethereum, Polygon and Base blockchains.
The initial proposal from Morpho Labs and Allez Labs sought to capture a 7% yield from stablecoins held in Polygon’s proof-of-stake bridge.