Polygon (POL) coin has experienced a retreat and a decline in value as its ecosystem struggles. Active addresses on the Polygon network have decreased by 12% in the last 30 days, while transaction volume has increased by 7% but fee revenue has fallen by 38%. The total value locked in the DeFi ecosystem on Polygon is significantly smaller than other networks. The DeX ecosystem and NFT market on Polygon have also seen declines in trading volume and sales. The weak performance of Polygon led to its removal from the Lido DAO liquid staking. The POL token has formed a descending triangle pattern and has dropped below its 50-period moving average, indicating a bearish outlook with the next key support level at $0.3425.



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