Coinbase has added a new altcoin, POL Token, to its listing roadmap. This addition has driven significant gains for the token, which is set to replace the existing MATIC Coin. The move is seen as a strategic shift for the Polygon project, marking an important milestone in its development.
Why Is MATIC Coin Rising?
MATIC Coin had previously announced its conversion to POL Token, a change that is now solidified with Coinbase’s recent inclusion of POL in its roadmap. The announcement, which was made today, signals that POL Token will soon be listed on the exchange. This news has already led to a double-digit price increase for the token.
What Does the Roadmap Include?
Typically, altcoins added to Coinbase’s roadmap are listed within a week, although delays can extend the process to over a month. In rare cases, tokens might even be removed from the roadmap. However, given that this is a planned transition from MATIC to POL, a timely listing can be anticipated. The roadmap page outlines the details: “Polygon Ecosystem Token (POL) – Contract address: 0x455e53cbb86018ac2b8092fdcd39d8444affc3f6.”
Coinbase has also confirmed via their X account that from August 26 to September 10, sending and receiving MATIC on the Polygon Network will be disabled to complete the transition to POL. They also mentioned that customers staking MATIC through Coinbase will continue to receive rewards during this period.
Key Takeaways
Here are some actionable insights for users:
- Prepare for a temporary suspension of MATIC transactions on the Polygon Network from August 26 to September 10.
- Staking rewards for MATIC will continue throughout the transition.
- Avoid depositing MATIC to Polygon PoS during the upgrade period.
- Both MATIC and POL trading on Ethereum will remain supported post-launch of POL ERC-20.
MATIC Coin is currently trading at $0.499, showing an 11% increase following the news.