Crypto
Polygon Price Drops 7.39%, Bearish Momentum Dominates Market
Polygon's (POL) price has dropped by 7.39% to $0.1124, as sustained selling pressure continues to weigh on the token.
The recent daily drop is a significant decline in the short term, with POL currently trading below its key moving averages and showing heightened volatility.
This volatile price action has positioned the token under both short- and medium-term thresholds, indicating bearish momentum in the market.
The circulating supply of Polygon's native token was reduced by 1% after 100 million POL tokens were permanently burned through an on-chain revenue burn.