POL rose 4.23% in the last 24 hours, reaching a high of 0.21 dollars.

Gate News Bot news, on July 10, according to CoinMarketCap data, as of the time of writing, POL (formerly MATIC) is currently priced at $0.21, having risen 4.23% in the last 24 hours, with a peak at $0.21 and a low of $0.18. The 24-hour volume reached $173 million. The current market capitalization is approximately $2.189 billion, an increase of $88.89 million compared to yesterday.

POL is the native token of the Polygon network, used to pay transaction fees, participate in network governance, and stake. Polygon is a Web3 aggregation platform dedicated to achieving infinitely scalable sovereign blockchain networks through ZK technology, providing users with a multi-chain ecosystem that offers a single-chain experience.

Recent important news about POL:

1️⃣ Heimdall v2 Mainnet Upgrade is Imminent The Polygon network plans to conduct the Heimdall v2 mainnet upgrade on July 10th from 14:00 to 17:00 UTC. This is the most complex hard fork since the launch of the Polygon PoS chain in 2020, which will revolutionize the consensus layer, streamline the codebase, and enhance core performance, paving the way for future scalability. The upgrade aims to increase the PoS chain's throughput to 1,000 TPS and ultimately achieve high performance of over 5,000 TPS through AggLayer.

2️⃣ The activity level of market trading has significantly increased The 24-hour spot trading volume of POL surged to 92 million USD, a rise of 71.4%. The derivatives trading volume also jumped to 83.75 million USD, an increase of 67.87%. The open interest climbed to 98.7 million USD, a growth of 10.98%. These figures indicate a significant increase in activity in the Polygon ecosystem in both the spot and derivatives markets surrounding this upgrade.

3️⃣ New ETP product launch enhances market exposure The Swedish Spotlight stock market has launched 8 new cryptocurrency exchange-traded products (ETPs), including a product based on POL as the underlying asset. This move is expected to enhance the market visibility and investment accessibility of POL, potentially attracting more traditional financial investors.

From a technical perspective, the POL daily chart shows early signs of a breakout rise. The price has successfully risen above the 20-day exponential moving average and the 20-day simple moving average, and the Bollinger Bands are beginning to expand, indicating increased volatility. The Relative Strength Index (RSI) currently stands at 56.78, close to but not yet in the overbought territory, leaving room for upward movement. If the bulls can hold the support at $0.196, the POL price may break out towards the $0.22-$0.24 range.

This message is not intended as investment advice; investors should be aware of market volatility risks.