Binance [BNB] Successfully Completes the Transition from MATIC to POL, Creating a Wave of Interest Among Traders

With $7.14 billion worth of MATIC tokens already converted, representing 71.4% of the total supply, the market is closely watching how this shift will impact POL’s price movements

Binance has completed the transition from MATIC to POL, sparking interest among traders.

Over $7.14 billion worth of MATIC tokens have been converted, making up 71.4% of the total supply. Now, the market is keeping an eye on how this shift will affect POL’s price movements, according to Dune.

The new POL token is available for trading in several pairs, including POL/USDT, POL/BTC, and POL/ETH, among others.

At press time, POL was priced at $0.3794, with a 24-hour trading volume of $77,969,673. The token experienced a -6.29% decline in the past day, but it rose 0.85% over the last week.

Despite the short-term dip, POL had a market cap of $2.7 billion, largely due to its circulating supply of 7.1 billion tokens.

According to DefiLlama, the Total Value Locked (TVL) on Polygon was $868.88 million at press time, indicating strong engagement on the platform.

Moreover, stablecoins on the network had a market cap of $1.982 billion, while the 24-hour trading volume reached $58.9 million.

Over the last 24 hours, Polygon saw inflows of $1.49 million and recorded 2.84 million transactions. The number of active addresses in the same period was 606,572, while new addresses increased by 55,169.

In the realm of tokenized Real World Assets (RWAs), Polygon ranks second among blockchains, following Ethereum [ETH]. According to market analysis, 23 tokenized RWAs are present on Polygon.

“Polygon’s position in the RWA sector, with a total market capitalization of $531.58 million, underscores its significance within the blockchain landscape.”

This substantial market share positions Polygon strongly as it enters the POL era.

With Polygon’s continuing growth in the RWA market, the platform is poised to attract further projects, which could influence POL’s long-term value.