Polygon's native token POL saw a significant surge of 15% after Binance added spot and perpetual contracts for the token, marking the successful rebranding from MATIC.
The token, now known as POL, jumped to nearly $0.45, marking its highest price since August, and outperforming Bitcoin, which remained roughly flat during this period.
The recent upgrade included changes in tokenomics with a new 2% annual emission rate, indicating a more sustainable economic model for the token.
Crypto analyst DeFiyst highlighted the psychological impact of the new POL ticker, suggesting that fresh trading charts could entice traders and lead to notable price action.
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