• Polygon (POL) breaks out of a key pattern, gaining momentum toward $0.30 with strong volume support.
• U.S. Department of Commerce to post GDP data on Polygon, boosting adoption and market credibility.
• POL derivatives see a surge in activity, with rising trading volume and stable open interest.

Polygon (POL) is gaining momentum after breaking out of a key pattern, with strong volume supporting the move. The U.S. Department of Commerce plans to release GDP data related to POL, boosting adoption. With support holding at the breakout level, $POL appears poised for further gains.

At the time of writing, POL is trading at $0.2783, with a 24-hour trading volume of $1.06 billion and a market capitalization of $1.56 billion. In the past 24 hours, the token has risen by 0.67%, reflecting renewed interest and activity in the market.

U.S. Commerce Posts GDP Data on Polygon

In a significant development, the U.S. Department of Commerce announced that it will begin posting real GDP data on the Polygon network. This move highlights the growing adoption of POL’s blockchain for official and economic data, reinforcing its role as a leading platform for decentralized applications.

Polygon Breaks Triangle Pattern Signals Strong Bullish Momentum

Adding to the positive sentiment, crypto analyst Alfa Crypto Signal reported that $POL has broken out of a symmetrical triangle pattern on strong volume. The token has tested trendline resistance multiple times before, and this breakout confirms a distinct shift in momentum.

With strong volume backing the breakout, $POL seems ready to continue rising. Provided the breakout price maintains its role of anchoring and supporting prices, the bull pattern is intact and points toward the continuation of this rising trend. Market analysts are now eagerly watching to see whether $POL can continue this trend in the next few days.

Also Read | Polygon Hosts U.S. GDP Data, Price Targets $0.29

Polygon Derivatives See Surge in Market Participation

The POL derivatives market experienced a major spurt in activity as trading volume skyrocketed by 149.18% to $804.65 million, driven by recent buying interest from investors. Open interest rose by 7.42% to $169.87 million, suggesting that investors are not only entering short positions but also acquiring long positions.

OI Weighted stood at 0.0057%, remaining stable despite rising trading activity. This suggests leverage is controlled, reducing violent liquidations, with investors cautiously optimistic about POL in the near term.

Also Read | Polygon Launches Katana with $240 Million in DeFi Deposits