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MATIC Becomes POL
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👾 MATIC Becomes POL
Word On The Street: Polygon completed a major technical upgrade, transitioning its native crypto to support the upcoming Polygon 2.0 ecosystem.
The details:
As of September 4, the network’s original token, MATIC, has been replaced on a 1:1 basis with the new Polygon Ecosystem Token (POL).
Polygon Labs’ CEO, Marc Boiron, emphasized that the upgrade is designed to increase community involvement in the network’s growth.
Staked MATIC will automatically convert to POL, with no additional actions required from users.
Why it matters: This POL token will now serve as the network's primary gas and staking token.
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BitGo CEO Says Wrapped Bitcoin’s Critics Aren’t Being ‘Intellectually Honest’ About Their Concerns. The loudest critics of BitGo’s deal with Justin Sun-affiliated BiT Global also want to see their ‘number go up.’
Traders Corner (Premium)
Welcome, Traders!
Traders Corner is the premium section of The Blockstreet Journal. We provide one free report out of appreciation ❤️
Reports from our analysts today:
Kaspa Technical Analysis (Free)
Aptos Technical Analysis (Paid)
Stacks Technical Analysis (Paid)
TRADERS CORNER
👻 Kaspa Technical Analysis
KASPA/USDT is $0.15137, trading near the upper Bollinger Band at $0.15152. This proximity to the upper band suggests overbought conditions or the possibility of a breakout if bullish momentum continues. The VWAP sits at $0.15011, slightly below the current price, indicating that the price is holding above average value, reinforcing the uptrend sentiment.
Trend Analysis:
The price is in a short-term uptrend, as seen from the steady rise above the VWAP and moving along the upper Bollinger Band. The recent increase in buying volume aligns with this upward momentum, confirming that buyers are currently in control. The price action shows a consistent push higher, with minor retracements being quickly bought up, supporting the bullish sentiment.
Support and Resistance:
- Resistance: The nearest resistance is at $0.15152 (upper Bollinger Band). A break above this level with strong volume could push the price toward the next psychological resistance level of $0.15500.
- Support: The VWAP at $0.15011 serves as the closest support. Below that, the lower Bollinger Band at $0.14870 will provide additional support if the price retraces further.
Scenarios:
1. Bullish Scenario: If the price successfully breaks above the upper Bollinger Band at $0.15152, it could signal a continuation of the uptrend, with the next target at $0.15500. Sustained bullish volume will be essential for this scenario.
2. Bearish Scenario: If the price fails to break above the resistance, it could lead to a retracement toward the VWAP at $0.15011. A further drop could test the lower Bollinger Band at $0.14870 as support.
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