Latest news with #PolygonPoS
Yahoo
09-07-2025
- Business
- Yahoo
Polygon's Token Gains 3% After Seeing ‘Exceptional' Trading Volume
Polygon's native token POL (previously MATIC) rose nearly 3% over the past 24 hours, outperforming the broader market, after establishing multiple support zones, according to CoinDesk Research's technical analysis data. The token climbed from $0.184 to $0.189 with a trading range of $0.0082 (4.28%), reflecting constructive volatility patterns, according to the model. The token built solid support foundations within the $0.183 to $0.184 corridor, where buyers consistently emerged. Exceptional volume activity up to 597,718 substantially surpassed the daily average of 189,000, indicating robust institutional engagement during rally phases and confirming successful penetration above $0.187 resistance, the model showed. The technical landscape also shows progressive higher lows between $0.1890-$0.1892, indicating foundational support strength, while overhead resistance persists around $0.1897, establishing a compressed trading band that reflects market equilibrium before potential directional resolution. The token outperformed the broader crypto market as measured by the CoinDesk 20 Index, which rose about 1.7% over the same period. The move comes amid recent announcement of Polygon PoS's consensus layer, Heimdall v2, landing 10 July 2025, according to the foundation's CEO. "This is the most technically complex hard-fork Polygon PoS has seen since it's launch in 2020," he said in an X post.
Time of India
11-06-2025
- Business
- Time of India
Polygon cofounder Sandeep Nailwal takes over as CEO amid restructuring
Sandeep Nailwal , cofounder of blockchain firm Polygon, will take over as the chief executive officer of Polygon Foundation , which includes Polygon Labs , as the company undergoes restructuring. The company, which was started in 2017 to solve the scaling issues of blockchain Ethereum , has been facing challenges in the last couple of years. It saw the exodus of co-founders, Jayant Kanani, Anurag Arjun, and Mihailo Bjelic, along with the exit of Ryan Wyatt, former CEO of Polygon Labs. The company had strengthened its US team, which created friction between the India and US teams, ET had earlier reported. The firm has been facing increasing competition from other players such as Coinbase's Base and Optimism, even as it saw most of its cofounders leave the firm. As a part of the restructuring, the company will focus on launching the AggLayer, short for aggregation layer, a blockchain protocol that facilitates interoperability between chains by FY25. It will shut down zkEVM, on the back of development hurdles. In a statement, the company said that the product lacked a strong strategic position and was no longer aligned with the evolving needs of the ecosystem. Other changes include Polygon PoS, which is now Gigagas, and will handle 100,000 transactions per second. The press statement said that the firm has processed $514 billion in stablecoin transactions in the past year and $3.7 billion in peer-to-peer (P2P) volume in April 2025. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company said that organisations such as Stripe, Reliance Jio, Nexo and BlindPay have built solutions on its blockchain.
