On September 5, the cryptocurrency exchange Coinbase announced that the new Polygon token, POL, is officially listed. Coinbase users can now log into the platform to buy, sell, exchange, send, receive, and store the token. However, it is noteworthy that Coinbase has labeled POL as "experimental," indicating that this token is considered a higher-risk asset, and its status is not as established as Polygon’s core token, MATIC. Additionally, POL's price is largely in line with MATIC's. If there is a significant price discrepancy between the two, it may indicate a risk of counterfeit tokens.
Surprisingly, the listing of POL did not boost its price; instead, it caused a price drop. During the Asian trading session today, POL’s price further dropped to $0.36, close to the low point on August 5. Analysts believe this performance is closely related to Polygon team's technical focus. Due to the lack of sufficient marketing support from the team, the upgrade failed to attract enough market attention, resulting in the stagnation of POL’s price. In the future, POL’s trend may still be mainly influenced by the overall market conditions and may struggle to form an independent upward trend.
