Polygon (POL) has extended its gains with a 1.48% daily increase to $0.1065, supported by a strong weekly surge of 14.85%. Despite a dip in trading volume, market capitalization rose to $1.12 billion. On-chain data reveals the network is generating significant daily fees, exceeding $300,000 and momentarily outpacing Ethereum in this metric.
The Polygon (POL) token continues its positive price trajectory, extending recent upside momentum. POL has gained nearly 1.48%, reflecting renewed buying interest.
On a broader scale, the token has posted a strong weekly performance. It recorded an impressive 14.85% surge amid improving market conditions.
At the time of writing, POL is trading at $0.1065, supported by growing market activity. The 24-hour trading volume stands at $63.72 million, representing a 17.91% daily decline.
Market capitalization is valued at $1.12 billion, marking a 1.46% increase. This comes as momentum strengthens for the asset.
According to TradingView, the POL price bounced from the $0.087–$0.090 support zone. Immediate upside pressure targets the $0.117–$0.1175 resistance area.
The current price is below key moving averages, indicating a bearish setup. A decisive break above $0.124 would turn the bias positive, with targets at $0.150 and $0.176.
Historical on-chain data from Token Terminal, reveals that Polygon has been exceeding Ethereum in daily transaction fees. The fees on Polygon exceeded $300,000 recently, signaling growing network usage.
As a Layer Two scaling solution, Polygon ensures that transaction fees remain low. The increased traffic indicates more decentralized applications and liquidity, which may define market structure.
