Polygon plans to carry out an important upgrade on July 10, POL has risen 8.51% in the last 24 hours.

Gate News Bot news, on July 9, according to CoinMarketCap data, as of the time of writing, POL (formerly MATIC) is currently priced at $0.20, having risen 8.51% in the last 24 hours, with a high of $0.20 and a low of $0.18. The trading volume in the last 24 hours reached $153 million. The current market capitalization is approximately $2.113 billion, an increase of $166 million compared to yesterday.

POL (previously known as MATIC) is the native token of the Polygon network. Polygon is a Web3 aggregation protocol based on Ethereum, dedicated to achieving an infinitely scalable collection of blockchain networks through zero-knowledge technology, providing users with an experience similar to a single chain.

Important recent news about POL:

1️⃣ Polygon network is about to upgrade The Polygon network plans to undergo a significant upgrade on July 10, 2025. This upgrade may have a substantial impact on network performance and functionality, drawing market attention and anticipation for the future development of POL.

2️⃣ Bullish sentiment in the derivatives market strengthens The open interest (OI) of POL has risen significantly by nearly 7% in the past 24 hours, reaching $8.7 million. Meanwhile, the long-short ratio has reached 1.01, indicating that traders are optimistic about the rise in POL prices. The financing rate has turned positive, further corroborating the bullish sentiment in the market.

3️⃣ New ETP Product Launch The Swedish Spotlight stock market has launched 8 new cryptocurrency exchange-traded products (ETPs), including products with POL as the underlying asset. This move is expected to increase the market exposure and investment accessibility of POL, potentially attracting more traditional financial investors.

From a technical perspective, POL has recently broken through an important descending trend line and is expected to continue its rise. Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) also show bullish signals. If POL can maintain its current momentum, it may test the key resistance level of the 100-day exponential moving average at $0.146 in the short term.

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