Polygon Token Surges 16.59% Amid Strategic Shift and Acquisition Rumors

Polygon's POL token experienced a 16.59% price increase, currently trading at $0.1558, with a high of $0.1584. Trading volume reached $312 million, up 167% overnight.
The surge is attributed to a strategic shift, including the launch of "Open Money Stack," a platform for seamless cross-chain fiat and cryptocurrency transactions.
Rumors suggest Polygon is nearing a $100-$125 million acquisition of Coinme, a cryptocurrency ATM operator with over 6,000 ATMs, potentially expanding Polygon's service portfolio into offline crypto access.
CEO Sandeep Nailwal highlighted record-high burn rates, with approximately one million POL burned daily, making the token increasingly deflationary. An estimated 3.5% of POL's total supply is expected to burn in 2026.

Polygon marked the largest positive price movement for the 24-hour period beginning on Jan. 8 | Source: CoinMarketCap