Polygon’s POL Token Holds Gains Despite Market Weakness, Rises 3% on Heavy Volume
Polygon’s native token, POL, posted a strong performance on Tuesday, gaining as much as 9% in early U.S. trading before paring gains later in the day as sellers stepped in.
The token rallied from $0.206 to a high of $0.225 during the morning session, driven by above-average trading volume. Activity spiked to 708,489 and 804,401 units during peak hours, well above the daily average of 410,606 units, according to CoinDesk Analytics. However, profit-taking capped further upside, and POL pulled back to trade near $0.221 by late afternoon.
Despite the intraday volatility, POL remains up 3% over the past 24 hours, outperforming the broader crypto market. The CoinDesk 20 Index, which tracks the largest digital assets, is down around 2.4% over the same timeframe.
POL remains down more than 90% from its all-time high of $2.92 set in December 2021, even as major cryptocurrencies like bitcoin and XRP have recently posted multi-month highs.
Polygon continues to focus on expanding its infrastructure. In a recent interview with Bloomberg, Polygon co-founder and newly appointed CEO Sandeep Nailwal said the project is pushing forward with AggLayer — a tool aimed at improving interoperability between blockchains — and ramping up development in payment and real-world asset use cases.
Nailwal, who took over as CEO in June, is steering Polygon through a strategic shift to stay competitive in the evolving Layer 2 landscape.
