- Polygon (POL) price has soared by over 5%, soaring from its $0.089 to $0.094, with a market capitalization of $999.05 million
- This bullish momentum in the cryptocurrency was seen after the growth in stablecoin shares, as it executed 159.9M stablecoin transactions last week
- The indicators are suggesting that the cryptocurrency is recovering from an oversold zone and is expected to continue bullish momentum
On Wednesday, the Polygon (POL) price soared with a bullish sentiment on a daily chart, where it spiked over 6%.
According to CoinMarketCap, Polygon (POL) has soared above $0.094 with a market capitalization of $999.31 million.
What Fuels Growth in Polygon (POL) Price?
The current momentum in POL is giving a sign of recovery as the cryptocurrency has broken out of a prolonged downward trend. After breaking a Descending Channel pattern, the asset is now creating an Ascending Triangle on the 4-hour chart. This is a technical pattern that generally shows building bullish momentum and chances for upward momentum.
The upward momentum of the Polygon price is also suggesting that buying pressure is increasing. This is likely to trigger a classic reversal trend, which shows that capital is flowing back into POL. This will help the cryptocurrency to recover after dropping over 11% in a month.
There are major resistance and support levels to watch from the current level. If it sustains a rally, there is a major resistance at around $0.1029. The surge above this level would open a door for further gains in the POL price.
On the flip side, if the cryptocurrency loses momentum and drops, then a major support level is established at $0.0883. It is important for the cryptocurrency to hold above this level to sustain current momentum.
It is most likely that POL might maintain the current momentum as it is bouncing from oversold levels.
Polygon is continuously expanding its ecosystem as one of the top Ethereum Layer-2 networks. According to DeFiLIama, the total value locked (TVL) in DeFi currently revolves around $1.236 billion.
Not just this, the stablecoin market cap on the Polygon network revolves around $3.587 billion, and the network just set a new all-time high with 159.9 million stablecoin transactions in a single week.
In February 2026, Polygon became the top chain globally for USDC transfers by processing over 12 million per day. The network has processed over $2.4 trillion in cumulative stablecoin volume.
159.9M stablecoin transactions last week. Another ATH! 🔥
Every time i look at Polygon’s numbers recently something new has hit an all time high. Stablecoin transactions, fees burned, active addresses, all climbing together.
When everything moves up at once that’s not luck,… pic.twitter.com/1eT9dkGbLS
— Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) March 28, 2026
Apart from this, daily POL token burns are creating real deflationary pressure. The network is currently burning around 1 million POL tokens every day through base transaction fees. In January 2026, it burned 25.7 million POL, and February saw a record 28.2 million POL burned. This is the highest monthly over.
If this pace holds through 2026, it could remove roughly 3% to 3.5% of the total POL supply annually. This is bigger than the staking rewards in some months, so the circulating supply is actually shrinking while network activity grows.
According to technical indicators, the RSI is revolving around 57 to 65, which is showing a strong bullish momentum. The MACD indicator is showing that bearish momentum is weakening, which suggests that selling pressure is easing. The bullish momentum of the crypto market has also driven the Bitcoin price.
Polygon CEO ‘Replaced’ by AI Agent in April Fool’s Prank
In a surprising April 1 announcement, Polygon Labs claimed its CEO, Marc Boiron, has been replaced by MARC, which is a Machine Autonomously Running Corporation powered by AI.
From the Polygon Labs Communication Department pic.twitter.com/F69KOYtrpA
— Polygon | POL (@0xPolygon) April 1, 2026
Polygon stated in the official statement that, “Effective immediately, Marc Boiron will be stepping down as CEO of Polygon Labs. He will be replaced by M.A.R.C. (Machine Autonomously Running Corporation), an AI agent trained on every podcast appearance, panel feature, and argument Marc has instigated on the Internet.”
However, later on, it was found that it was clearly an April Fool’s joke.
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