{"id":3756,"date":"2025-06-23T14:11:59","date_gmt":"2025-06-23T14:11:59","guid":{"rendered":"https:\/\/bitunikey.com\/news\/polygon-price-slowly-forms-a-bullish-pattern-as-stablecoin-growth-surges\/"},"modified":"2025-06-23T14:12:06","modified_gmt":"2025-06-23T14:12:06","slug":"polygon-price-slowly-forms-a-bullish-pattern-as-stablecoin-growth-surges","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/polygon-price-slowly-forms-a-bullish-pattern-as-stablecoin-growth-surges\/","title":{"rendered":"Polygon price slowly forms a bullish pattern as stablecoin growth surges"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Polygon price continued its downward trend on Monday, June 23, dropping to its lowest level since April 9.<\/p>\n<p>Polygon (POL) plunged to a low of $0.1732, mirroring the broader sell-off in altcoins. The token is now down more than 77% from its December 2023 high.<\/p>\n<p>The sell-off in Polygon comes amid a broader crypto market downturn and the network\u2019s declining market share to rising competitors like Base and Arbitrum. For instance, decentralized exchanges on Polygon processed <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/defillama.com\/dexs\/chains\" target=\"_blank\">$3.82 billion<\/a> in transactions over the last 30 days.<\/p>\n<p>By comparison, Coinbase\u2019s Base chain handled over $29 billion during the same period, while Arbitrum recorded $18.9 billion. Newer layer-1 blockchains such as Hyperliquid and Sui have also overtaken Polygon in terms of DEX volume.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>On a more positive note, Polygon has shown strong growth in the booming stablecoin sector. Its stablecoin supply has <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/app.artemis.xyz\/asset\/polygon?from=chains&amp;tab=stablecoins\" target=\"_blank\">jumped<\/a> 10% over the last 30 days to more than $2.3 billion.<\/p>\n<p>Supporting this, the number of stablecoin transactions on Polygon jumped 44% to 81.1 million during the same period. The adjusted transaction volume surged 35% to $52 billion, positioning Polygon as one of the leading chains in stablecoin activity.<\/p>\n<p>Most of this activity has come via Binance, followed by Polymarket, the popular prediction market platform.<\/p>\n<h2 class=\"wp-block-heading\">Polygon price technical analysis<\/h2>\n<figure class=\"wp-block-image size-full\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14391086\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">POL price chart | Source: crypto.news<\/figcaption><\/figure>\n<p>The daily chart shows that POL bottomed at $0.1500 in April and rebounded to a high of $0.2754 on May 11. Since then, the price has retreated and broken below the 50-day moving average.<\/p>\n<p>Polygon is now approaching a critical support level at $0.1500, suggesting it may be forming a double-bottom pattern, a common bullish reversal signal.<\/p>\n<p>If the price holds above this level and begins to bounce, the next upside target would be the neckline around $0.2757. However, a decisive drop below $0.1500 would invalidate the bullish setup and potentially trigger further downside.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Polygon price continued its downward trend on Monday, June 23, dropping to its lowest level since April 9. Polygon (POL) plunged to a low of $0.1732, mirroring the broader sell-off&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=3756"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3756\/revisions"}],"predecessor-version":[{"id":3758,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/3756\/revisions\/3758"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/3757"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=3756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=3756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=3756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}