The world of cryptocurrency is constantly evolving, and one of the latest milestones involves a major shift on the Polygon network. In a significant development for both retail and institutional investors, Coinbase has officially resumed support for Polygon’s native token—now rebranded under the new ticker POL. This move marks a pivotal moment in Polygon’s transition from its legacy token, MATIC, to its next-generation governance and utility token.
👉 Discover how major exchanges are adapting to blockchain upgrades like POL’s migration.
Restoration of Services on Coinbase
Coinbase, one of the most influential cryptocurrency exchanges in the United States, has reinstated full functionality for Polygon’s upgraded token. Users can now send, receive, and trade POL directly on the platform. This update follows a temporary suspension of MATIC-related services to facilitate the seamless migration process.
The exchange confirmed via an official X (formerly Twitter) post that all previous capabilities available for MATIC—such as trading and wallet integration—are now extended to POL. Importantly, this ensures continuity for users who were already active on the Polygon ecosystem. No geographical restrictions were introduced during the transition; users in supported regions retain full access under the new ticker.
Additionally, Coinbase has restored cross-asset support on the Polygon network, including popular tokens such as:
- VOXEL
- USDC
- CBETH
- WETH
This broader reinstatement reinforces Coinbase’s commitment to maintaining robust infrastructure across evolving blockchain ecosystems.
Understanding Polygon’s Migration to POL
On September 4, Polygon executed a critical upgrade: the official transition from MATIC to POL as its primary governance and staking token. This change is more than just a rebrand—it represents a foundational shift in Polygon’s long-term vision.
Under the new structure:
- All transaction fees on Polygon’s Ethereum Layer-2 network are now paid in POL
- POL becomes the native staking token within Polygon’s Proof-of-Stake (PoS) consensus mechanism
- Existing MATIC stakers continue earning rewards until their current staking cycles conclude
Despite the upgrade, MATIC and POL will coexist for a transitional period. The final deadline for users to migrate their MATIC holdings to POL will be determined by community governance. This phased approach aims to minimize disruption while encouraging widespread adoption of the new token.
👉 Learn how token migrations impact your digital asset portfolio.
The Roadmap Behind the Change
The migration to POL is part of Polygon’s broader strategic initiative known as the AggLayer—a framework designed to unify multiple blockchains into a single, scalable, and interoperable network. By introducing POL as a unified economic layer across all chains in the AggLayer ecosystem, Polygon aims to enhance decentralization, security, and user experience.
This upgrade positions Polygon not just as a scaling solution for Ethereum, but as a foundational infrastructure for the future of Web3. With POL at its core, the network is preparing for a multi-chain reality where seamless asset movement and shared security are standard.
Market Reaction: POL Struggles Post-Migration
Despite the technical success of the migration, POL’s market performance has been underwhelming.
Following initial optimism—and a brief 10% price surge after Coinbase announced its support—the token has entered a downward trend. As of the latest data:
- POL is down 12% over the past month
- It has fallen 71% from its yearly high reached in March
- Currently trading at $0.368, with a 24-hour decline of 3.42%
- Ranks 30th by market capitalization, with a total valuation of approximately $2.5 billion
While macroeconomic factors and broader market sentiment have contributed to this dip, some analysts suggest that investor uncertainty around the migration timeline and utility clarity may also be influencing sentiment.
Still, long-term supporters argue that short-term price movements don’t reflect the fundamental upgrades underway. The success of POL will likely depend on increased adoption across dApps, staking participation, and real-world use cases enabled by the AggLayer rollout.
Frequently Asked Questions (FAQ)
Q: Why did Polygon change from MATIC to POL?
Polygon migrated from MATIC to POL to align with its next-phase vision—AggLayer—a unified settlement layer for all Polygon chains. POL serves as the new governance, staking, and fee-payment token, enhancing scalability and interoperability across the ecosystem.
Q: Can I still use or trade MATIC?
Yes. MATIC remains functional during the transition period. Existing holders can continue using, trading, or staking MATIC until the community votes on a final migration deadline. Over time, users are encouraged to upgrade to POL to participate fully in the evolved network.
Q: Does Coinbase support both sending and receiving of POL?
Yes. Coinbase supports full functionality for POL, including buying, selling, sending, and receiving. The platform resumed these services after completing technical adjustments for the ticker change.
Q: Will MATIC be phased out completely?
There is no fixed date yet. While POL is now the primary token, MATIC will coexist until a governance decision sets a sunset date. Users will be given ample notice before any deprecation occurs.
Q: How does POL affect gas fees on Polygon?
All transaction fees on Polygon’s Layer-2 network are now paid in POL instead of MATIC. Wallets and dApps have been updated to reflect this change, so users should ensure they hold POL for transactions going forward.
Q: Is POL available on other major exchanges?
While Coinbase has led the way, several other top-tier exchanges are expected to follow suit in listing or upgrading support for POL. Always check your exchange’s official announcements for migration timelines.
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Final Thoughts
The resumption of Polygon services on Coinbase under the new POL ticker is more than a technical update—it's a signal of maturation in the blockchain space. Projects are no longer static; they evolve through community-driven upgrades that reshape economic models and technological foundations.
While POL faces short-term market headwinds, its long-term potential lies in the successful execution of Polygon’s AggLayer vision. For investors and developers alike, understanding this transition is crucial to navigating the next wave of decentralized innovation.
As always, users should remain informed, monitor official channels for updates, and make decisions based on thorough research rather than speculation.
Keywords: Polygon, POL, MATIC, Coinbase, token migration, Layer-2, AggLayer, crypto exchange