- Polygon token POL (previously MATIC) worth rose to highs of $0.24 on Wednesday.
- Features got here as Polygon co-founder Nailwal Sandeep introduced he had taken management as the brand new Polygon Basis CEO.
- Total crypto bounce additionally helped POL worth increased.
The Polygon ecosystem token, POL (previously MATIC), has seen a notable worth enhance prior to now 24 hours amid information co-founder Nailwal Sandeep is now the brand new chief govt officer of Polygon Basis.
Per information from CoinMarketCap, the worth of POL was up 6% and at round $0.23 on the time of writing on June 11, 2025.
The ex-MATIC token’s worth reached a excessive of $0.24 because the every day buying and selling quantity rose 48% to over $185 million.
POL’s market cap stood at round $2.45 billion.
Polygon jumps with different altcoins
POL worth jumped amid total features for high altcoins and Bitcoin’s rally to $110k.
Ethereum, Solana, and XRP had been among the many high gainers, as was Stellar’s worth.
Nevertheless, greater than the altcoin surge, the uptick in POL token’s worth coincided with vital management adjustments on the Polygon Basis.
Notably, Polygon co-founder Sandeep Nailwal introduced on June 11 that he was assuming full management of Polygon Basis as CEO.
The transfer comes a couple of weeks after co-founder Mihailo Bjelic turned the third of 4 co-founders of Polygon to go away the mission.
Vital replace from @sandeepnailwal 💪 https://t.co/tPPRSgbUuc
— Polygon (@0xPolygon) June 11, 2025
Bjelic stepping down from the Polygon Basis noticed him be part of Jaynti Kanani and Anurag Arjun, who had been the primary two to exit.
Nailwal’s transfer due to this fact indicators an enormous strategic pivot for Polygon.
Bulls had been additionally seeking to lengthen features as Polygon eyes additional development following key development metrics in Could.
Amongst high wins for the ecosystem within the month was the spike in complete transfers, which elevated by 20%, from $67.4 million in April to over $81 million.
In the meantime, switch quantity rose 5.3% to $141 billion over the month, and lively addresses surged 16.3% to five.6 million.
A rise in stablecoin provide, with the metric up 8.2% in Could to $2.1 billion, additionally pointed to huge curiosity.
This has contributed to POL’s worth breaking beneath $0.22.
Polygon Basis’s first CEO
In an in depth submit on X, Sandeep Nailwal talked about that he’s Polygon’s largest POL holder and a driving pressure behind its growth.
He’s now the primary CEO of Polygon Basis, Sandeep famous.
“I’ve always stayed away from moving into the CEO role because I’ve been focused on building PF as an institutionally governed foundation. But right now, Polygon needs clear direction and focused execution, and that means stepping up,” the Polygon co-founder wrote on X.
Nailwal’s management will see him oversee a number of entities round Polygon, together with Polygon Labs, which is able to proceed to be below the present CEO, Marc Boiron.
Whereas there are a lot of areas of focus for Polygon Basis below Nailwal, the brand new CEO notes that the staff will deprecate the Polygon zkEVM platform.
It means a zeroing in on each Polygon PoS and the Agglayer.
Polygon PoS will goal stablecoin funds and real-world property (RWAs), whereas Agglayer goals to construct a “trustless Internet of Blockchains.”
In the meantime, Agglayer v0.3, set to roll out the week of June 30, 2025, might be feature-complete aside from quick interoperability, slated for completion by Q3’s finish.
The Agglayer Breakout program will spin off tasks, together with Polygon ZisK, led by Jordi Baylina, fostering airdrops for POL stakers.
“With a healthy treasury and several hundred million in cash, we’re in a great position to keep building for the long term, without any distractions or pressure to raise,” Nailwal added.
POL worth reached highs of $1.29 in March 2024.
