Polygon $POL recent news is dominated by a major strategic shift toward becoming a regulated U.S payments platform through a $250 million acquisition spree of Coinme and Sequence alongside significant network upgrades and token burns. This push aims to integrate crypto with traditional finance and compete in the stablecoin market.
The migration from to the new $POL token is nearly complete with approximately 98 to 99 percent of tokens successfully transitioned. The network also implemented the proposal to enhance staked POL utility in DeFi decentralized finance.
Deflationary Pressure High network activity driven partly by prediction market platform Polymarket has resulted in significant $POL token burns. The current annualized burn rate of approximately 3.5 percent is more than double the staking yield creating deflationary pressure on the token supply.
While long term sentiment is bullish due to strategic positioning and institutional interest e.g BlackRock deploying assets on the network the token has faced short term price volatility and profit taking after recent rallies. The company also underwent a workforce reduction of around 30 percent amidst the acquisitions to streamline operations.#POLUSDT #WriteToEarnUpgrade
