Polygon (POL) Price, Market Cap, and Token Migration

Polygon is undergoing a significant transition as its new native token, POL (ex-MATIC), gradually replaces the previous MATIC token over a four-year period as part of the Polygon 2.0 upgrade [1]. Currently, the token is trading at approximately $0.0745, reflecting a slight decline in recent market activity [2]. This asset serves as the utility coin for the network, facilitating transaction fees and staking rewards while powering zero-knowledge-based Layer 2 chains [1].

Key takeaways

• POL is replacing the MATIC token over a four-year timeline as part of Polygon 2.0 [1].
• The token is currently priced around $0.0745, with market capitalization estimates ranging between $784 million and $794 million [1][2].
• Trading volume has increased by 9.10% in the last 24 hours to reach approximately $41.4 million, though the price is down 3.90% over the past week [1].
• POL reached an all-time high of $1.29 and is currently trading 94.30% below that peak [1].

Market performance and valuation metrics

Data providers show slight variations in current valuation metrics for the Polygon ecosystem token. Binance lists the price at $0.0745046 with a market capitalization of $794.1 million and a 24-hour trading volume of $50.9 million [2]. CoinGecko reports a slightly lower market cap of approximately $784.2 million and a trading volume of $41.3 million, noting a 9.10% increase in daily activity [1]. Despite the recent volume uptick, the token has underperformed the broader crypto market, dropping 3.90% over the past week compared to a global market rise of 3.10% [1].

The token's price history highlights significant volatility from its previous highs. POL reached an all-time high of $1.29 and is currently trading 94.30% below that peak, though it remains 3.20% above its all-time low of $0.07129 [1]. Circulating supply figures differ slightly between sources, with CoinGecko listing 11 billion tradable tokens and Binance reporting 10.7 billion in circulation [1][2]. Both sources indicate a fully diluted valuation that aligns closely with the current market cap [1][2].

Token utility and migration timeline

The shift to POL is designed to support a vast ecosystem of zero-knowledge-based Layer 2 chains, functioning as an ERC-20 token essential for network operations [1]. It is used to pay transaction fees and distribute staking rewards within the Polygon network [1]. Investors can trade the token on major centralized exchanges, with Binance identified as the most active market for the POL/USDT pair, which recorded a trading volume of nearly $4 million in the last 24 hours [