MATIC To POL Token Migration Set For September By Polygon

Polygon Foundation has set the date for the much-anticipated MATIC to POL token migration. POL token will change MATIC because the native fuel and staking token for the Polygon proof of stake (PoS) community. Subsequent levels might even see the growth of POL performance, particularly inside the AggLayer, relying on group consensus.

Polygon Plans To Migrate MATIC To POL Token On September 4

In an official announcement on July 18, Polygon Labs has set September 4 this 12 months for the MATIC to POL mainnet improve on Polygon. POL token migration is a community-driven improve first proposed final 12 months. Polygon co-founder Sandeep Nailwal additionally reacted to the oncoming developments on the chain.

As per consensus, the improve from MATIC to POL because the fuel and staking token for Polygon PoS is to occur initially. The launch of the Staking Layer and migration of Polygon public chains to leverage it, with increasing POL token utility to serve a vital function within the AggLayer to occur subsequently.

Polygon mentioned MATIC on Polygon PoS and MATIC stakers and delegators on Ethereum don’t need to take any motion for migration. However, MATIC holders on Ethereum chain, Polygon zkEVM, and in CEXes need to migrate. The group additionally made testnet migration stay on July 17.

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Can MATIC Price Rally?

MATIC value has been below the radar after the SEC cited the token amongst others as securities in Binance and Coinbase lawsuits. Since then, Polygon token hasn’t witnessed a lot upside momentum. It is down 29% in a 12 months and 4% in a month.

In the final 24 hours, MATIC price fell 3% after 8% soar this week amid renewed bullish sentiment. The 24-hour high and low are $0.5399 and $0.5607, respectively. Furthermore, the buying and selling quantity has elevated by 9% within the final 24 hours, indicating an increase in curiosity amongst merchants.

However, the MATIC group and Polygon group anticipate progress within the community and token value after the improve and additional developments. As per CoinGape Markets evaluation, MATIC can rally to $0.76 following a breakout of multi-month resistance of the falling wedge sample.

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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a expertise fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the large potential of those revolutionary future applied sciences. He is presently overlaying all the newest updates and developments within the crypto trade.

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