CandleFocus Polygon Processes Over $214 Billion In DEX Volume As Adoption Explodes, Why Is POL Struggling?
2024-09-11
Author: Content Editor
The article discusses Polygon's strong growth and increasing popularity as a sidechain for Ethereum. The platform has processed over $214 billion in decentralized exchange volume and added $102 billion worth of assets through centralized exchanges. The introduction of the Aggregation Layer is expected to boost liquidity and utility, connecting all layer-2 technologies built on Polygon. The recently upgraded POL token will play a more significant role, used to reward validators and secure other platforms via the Aggregation Layer. Despite its growth, the POL token has struggled and is currently trading at $0.35, indicating that bears are in control unless there is a comprehensive close above $0.60. Overall, Polygon's focus on scaling without compromising security has contributed to its rising adoption.
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