Polygon (POL) Price Jumps 15% After Binance Expands Support for the Token

Polygon's native token, POL, formerly MATIC, saw an increase of 15% on Friday after the token was listed on Binance.

Polygon’s (POL) native token, formerly known as MATIC, saw a surge in interest on Friday after Binance announced support for several Polygon (POL) offerings across various products.

Following the announcement, POL price surged by 15%, outperforming several top cryptocurrencies, including Bitcoin and Ethereum. Some analysts remained optimistic about the token’s future, predicting a possible rally to $0.94 if key support levels hold.

Binance Expands Support for Polygon (POL)

On September 13, Binance shared that it has expanded its services to include support for several Polygon (POL) offerings. Commencing at 10:00 UTC on the same day, POL became available for simple earn flexible and locked products.

The exchange also noted that users will be able to buy POL with a number of payment methods, including VISA, MasterCard, Google Pay, and Apple Pay from Sep 16.

Furthermore, POL was added to the list of borrowable assets on Cross and Isolated Margin with pairs such as POL/USDT, POL/USDC, and POL/FDUSD. At 12:15 UTC, Binance opened a USD-Margined perpetual contract for POL, where users can trade with up to 75x leverage.

The funding rate which was the initial rate for the POLUSDT perpetual contract was set at +2.00%/-2.00%. These products have谷川 greatly boosted the investor interest in POL as is reflected in the rising price of the token.

Apart from Binance, the American exchange Coinbase has also restored support for Polygon using the new POL ticker. The exchange had halted trading of MATIC on August 26 and started trading under the new symbol on September 12. Coinbase has added a new feature that enables its users to send, receive and trade POL, thus keeping the same level of support it previously provided for MATIC.

Polygon PoS send/receive support has been resumed on Coinbase and all services have been restored. POL has been enabled for trading across all regions where MATIC is available for trading.

The transition to POL marks not only a switch in the token’s name but also the token’s role as the official staking token for Polygon’s Proof-of-Stake (PoS) network. Current MATIC stakers will still get their rewards as usual until their staking period is over. However, all new actions will involve the POL token.