Polygon's POL token surged to its highest level since July 23, driven by robust NFT, stablecoin, and DeFi growth, reflecting enduring investor confidence despite intensifying layer-2 competition.
Polygon's POL token experienced a strong upward trend, reaching its highest level since July 23. NFT sales soared by 53% to $17.8 million, stablecoin supply increased by 6.35% to $2.6 billion, and DeFi TVL grew by 10.9% to $1.35 billion. The token is trading above its 50-day EMA and near the 23.6% Fibonacci Retracement level, suggesting further gains if resistance at $0.3858 is breached.