Ethereum

Token

POL (ex-MATIC)

Polygon

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/coinbase-backs-polygon-ecosystem-token-pol" data-wpel-link="internal">Coinbase Backs Polygon Ecosystem Token (POL)</a><br></p>
<p style="text-align: justify">Coinbase recently announced its support for the Polygon Ecosystem Token (POL) on the Ethereum network, sparking significant discussion among crypto <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a>. This news follows a history of impactful announcements from major cryptocurrency exchanges like <a href="https://en.bitcoinhaber.net/binance-introduces-new-usdc-collateralized-shib-trading-contract" data-wpel-link="internal">Binance</a> and Coinbase, which frequently influence market dynamics, especially with the anticipated bull season approaching.</p> 
<h2 id="what-did-coinbase-announce">What Did Coinbase Announce?</h2> 
<p style="text-align: justify">In a statement released on social media platform X, Coinbase detailed its plans to add support for POL, an ERC-20 token. The exchange cautioned investors to ensure they send the asset only over the Ethereum network to avoid potential loss of funds. The announcement also mentioned that trading for POL-USD pairs would gradually commence once sufficient supply and liquidity conditions are met. However, restrictions may apply in certain jurisdictions.</p> 
<h2 id="immediate-market-reaction">Immediate Market Reaction</h2> 
<p style="text-align: justify">Following the announcement, the prices of Polygon network tokens, including MATIC and POL, drew keen investor attention. Despite <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">the news</a> not involving a delisting, the price of POL dropped by 4.66% within the last 24 hours, settling at $0.3840. This decline has raised concerns among investors, particularly as the price remains below all EMA indicators.</p> 
<h2 id="market-data-and-investor-reactions">Market Data and Investor Reactions</h2> 
<p style="text-align: justify">– POL’s price fell by 4.66%, reaching $0.3840.<br> – Despite the price drop, POL’s 24-hour trading volume soared by 461%, hitting $4.8 million.<br> – MATIC also saw a 4% decline, trading around $0.383.<br> – MATIC’s market cap stands at $1.8 billion, with a trading volume increase of 45%, exceeding $317 million.</p> 
<p style="text-align: justify">The surge in trading volumes despite falling prices indicates heightened market activity and investor interest following Coinbase’s announcement.</p> 
<p style="text-align: justify">This news highlights the significant influence that major exchange announcements can have on cryptocurrency markets. Investors are advised to stay informed and consider these dynamics when making trading decisions.</p> 
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/coinbase-backs-polygon-ecosystem-token-pol" data-wpel-link="internal">Coinbase Backs Polygon Ecosystem Token (POL)</a></h5>

Coinbase Backs Polygon Ecosystem Token (POL)

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