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POL (POL) bulls continue to drive the token’s short-term rally that began on April 18, pushing the price higher and achieving double-digit percentage growth on the weekly timeframe. At the time of writing, POL (formerly MATIC) was valued at $0.214, up over 16% in the last seven days.  In the last 24 hours, the digital currency has increased by almost 9%. These returns have elevated POL into the top ten gainers of the week. The asset has also seen an influx of buying pressure, pushing the market cap to $2.22 billion. POL one-week price and market cap chart. Source: CoinMarketCap POL’s technical outlook However, the bulls’ strength is needed to offset POL’s current dominant bearish sentiment, which could undermine the sustainability of this run.  To this end, the token is trading slightly above its 50-day simple moving average (SMA) of $0.212, showing modest short-term strength. However, it remains significantly below the 200-day SM...

Coinbase has added Ethereum (ETH) layer-2 Polygon’s yet-to-be-launched native token to its listing roadmap. Making the announcement via social media platform X, the top US crypto exchange says it has placed Polygon’s POL on its listing roadmap, which the exchange created in 2022 for the purpose of transparency and to prevent front-running of token listings. POL is the upcoming rebrand of Polygon’s MATIC, which is slated for launch on September 4th, according to Polygon Labs. MATIC will ultimately be replaced by POL as the native gas and staking token for Polygon in the initial phase of the transition. In subsequent phases, the community will decide whether to expand the utility of POL. The token rebrand was first proposed last July as a means of supercharging the growth of the network. Weeks later, Polygon Labs founder Sandeep Nailwal explained that the proposal was a part of the blockchain’s transition to Polygon 2.0. Say the developers, “In ...