Crypto Markets Mixed: Polygon Soars 16% While CoinDesk 20 Moves Sideways

Polygon’s token POL was the weekend’s standout performer, jumping 16% to reach $0.29 for the first time since March before easing back under $0.28.

The CoinDesk 20 Index stayed largely flat during the move, with bitcoin trading near $111,000 and ether seeing only modest gains.

Momentum for POL may have been supported by recent developments. Polygon was highlighted in a U.S. government initiative exploring blockchain rails for publishing economic data, while its integration with USDT0, a Tether-linked cross-chain stablecoin protocol, could strengthen its liquidity profile.

Technical models from CoinDesk Research pointed to bullish momentum, noting that the $0.277–$0.278 range is emerging as a potential support zone for further upside.

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January 9, 2025

Polygon’s native token POL outpaced the market over the weekend, rallying 16% to a high of $0.29—levels not seen since March. The advance later retraced slightly, with the token consolidating below $0.28.

The outperformance came even as the broader CD20 Index showed little movement and blue-chip assets like bitcoin and ether posted only incremental gains.

Analysts point to a mix of fundamental and technical drivers behind POL’s strength. Polygon was recently included in a U.S. initiative to distribute official economic data, such as GDP, via blockchain. The network also secured a new integration with USDT0, a Tether-focused cross-chain stablecoin protocol, potentially boosting its appeal as a liquidity hub.

From a charting perspective, CoinDesk Research flagged POL’s breakout as a bullish signal, with buyers defending the $0.277–$0.278 range, a level that could serve as a base for further gains.