The native token of polygon (Pole)An Ethereum scaling Network, LED winnings through the weekend in the broadmarket-crypto-benchmark Coindesk 20-index .
Pole rose 16% from Friday to early Monday and topped $ 0.29 for the first time since the beginning of March, Coindesk data shows. Recently, it paired some of the advances that slid below $ 0.28.
The move happened when CD20 remained a little changed with Bitcoin and Ethereums ether (Eth) Submission of only modest gains.
Although there was no clear catalyst behind the pole’s wave, some positive developments may have strengthened the token’s performance.
Polygon was one of the chains mentioned last week in the US government’s initiative to release key economic data, such as GDP on blockchain rails.
The network also announced an integration last week with USDT0, a bottom-focused cross-cutting chain stablecoin protocol that could help increase the network’s position as an important liquidity hub for stableecoin currents.
On the technical front, Pol’s breakout showed a strong bullish momentum, Coindesk’s research model showed. Despite the consolidation from its recent top, buying pressure in the range of $ 0.277- $ 0.278 continued to signal support for further gains, the model said.
Read more: The US Government begins pushing financial data on blockchains as ‘proof of concept’
