Polygon (POL) leads to crypto acquisitions with 16% weekend as CoinDesk 20 index trades flat
The native token of the polygon (Pol)a scaling network of Ethereum, which led to the weekend gains in the wide crypto benchmark coindesk 20 index market .
POL advanced 16% from Friday to early Monday, leading $ 0.29 for the first time since early March, CoinDesk data shows. Recently, it restored some of the advanced advanced below $ 0.28.
Moving occurred as the CD20 remained smallly changed along with Bitcoin and Ethereum’s ether (Et) Posting only moderate acquisitions.
While there is no clear catalyst behind Pol’s climb, some positive development can strengthen the token performance.
Polygon was one of the chains mentioned last week at US government initiative To release basic economic data such as GDP on blockchain metals.
The network is also announced A joint last week with the USDT0, a Tether dedicated to the cross-chain stablecoin protocol, which would help boost the network position as a major liquidity hub for stablecoin flows.
In the face of technical, POL’s breakout signal is a strong bullish momentum, CoinDesk’s research model shows. Despite integration from its recent climax, the purchase of pressure at $ 0.277- $ 0.278 range can signal ongoing support for additional gains, the model said.
Read more: The US government begins to push economic data into blockchains as ‘proof of concept’
