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POL price surges as Sandeep Nailwal assumes Polygon Foundation CEO role
- Polygon token POL (formerly MATIC) surged to $0.24 as Sandeep Nailwal became the new CEO of Polygon Foundation.
- The rise in POL price coincided with widespread gains in the crypto market.
- Nailwal's leadership follows key growth metrics for Polygon in May.
- Overall trading volume for POL surged as the market cap reached around $2.45 billion.
- Altcoins like Ethereum, Solana, and XRP showed gains alongside POL.
- Nailwal's appointment as CEO signals a strategic shift for Polygon following previous co-founder departures.
- The move is aimed at providing clear direction and focused execution for Polygon Foundation.
- Polygon's ecosystem witnessed growth in total transfers, active addresses, and stablecoin supply.
- Under Nailwal, Polygon will focus on PoS, Agglayer, and deprecate the zkEVM platform.
- Plans include Agglayer v0.3 rollout by June 30, 2025, with further interoperability enhancements.
- Additionally, the Agglayer Breakout program will support projects like Polygon ZisK.
- Nailwal highlighted Polygon's strong financial position for long-term growth without the need to raise funds.
- Notably, POL price hit $1.29 in March 2024.
- The news was shared by Polygon on social media
- The original article is from CoinJournal.
- Polygon's former MATIC token has now been rebranded to POL
- The update follows the appointment of Nailwal Sandeep as the new CEO of Polygon Foundation.
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