Traders seem to expect BTC’s momentum could slow down a bit after the price hit over $97,000.

Positive sentiment has continued to fuel the cryptocurrency market as the expectation of further institutional adoption of 

 keeps growing. Options trading of BlackRock’s Spot Bitcoin ETF IBIT 

 with a bang, attracting almost $2 billion on the first day of trading. The hope of more spot ETF derivatives to change the market structure with additional institutional money onboarding crypto is high.

, we explored the possibility of the market being overleveraged, which could be painful if the current leverage unwinds. Data from CryptoQuant shows that the estimated leverage of the current BTC markets has reached another YTD high.

Derivatives data on Bybit shows that traders seem to expect that BTC’s momentum could slow down a bit after the price hit over $97,000, and are focusing more on downside protection.

Figure 1: Bitcoin estimated leverage ratio at 0.23. Source: CryptoQuant

BTC Options Open Interest Returns to Previous High While Perps Are Catching Up

Derivatives traders have been actively participating in BTC markets as 

 on Bybit has surged to over $3 billion, on par with the previous high on Nov 14, 2024. Although the options OI has increased, it still hasn’t surged above the previous high. At the time, BTC’s price had already jumped to over $97,000. If the OI doesn’t follow suit and break above the previous high in the coming days, this could be a sign that the market could become a bit exhausted — something for all market participants to be aware of.

Figure 2: Daily open interest for BTC options on Bybit. Source: Bybit

 have also seen increased open interest in recent days. Perpetuals have been among the most favorable products for day traders and short-term speculators. Rising open interest could indicate that more traders are looking for short-term profit, which could bring additional volatility to the market. 

Figure 3: Daily open interest for BTCUSDT Perpetuals on Bybit. Source: Bybit

Dec 27, 2024 remains the most popular expiration date for BTC Options on Bybit, with most of the open interest there. Within that expiration, $120,000 calls had the most OI, and $100,000 calls accumulated the second-largest OI. 

Figure 4: Open interest by strike for BTC Options with a Dec 27, 2024 expiration. Source: Bybit

Meanwhile, the market’s optimism that BTC will hit $100,000 by the end of the year seems to support the current price momentum. Shorter-dated options could show that traders are also looking for downside protection. The Bybit 

 page shows that BTC Options with a Nov 29, 2024 expiration have a strong 24-hour inflow to $90,000 puts. This could indicate that some traders are also anticipating some degree of price correction by the end of the month. 

Figure 5: 24-hour volume by strike for BTC Options with a Nov 29, 2024 expiration on Bybit. Source: Bybit

 for BTC Options on Bybit also indicates a possible downside protection in play among options traders. A smirk skew, or left skew, is a skew curve that’s steeper on one side (the left side) than the other. Traditionally, a smirk skew curve could mean that traders have been protecting their portfolios against a possible declining market. At the time of this writing (Nov 21, 2024), BTC Options contracts on Bybit with Nov 29, 2024 and Dec 27, 2024 expirations have both shown a smirk skew. However, this doesn’t necessarily mean traders are bearish on the price, and could just be part of the trading strategy. For example, traders could set up collars by buying out-of-the-money (OTM) puts and selling OTM calls simultaneously, so that they can profit in case BTC’s price drops, gain upside exposure and potentially offset the cost of buying the puts. 

Figure 6: Implied volatility of BTC Options with Nov 29, 2024 and Dec 27, 2024 expirations. Source: Bybit

The current BTC leverage trading may be complex, but tells a revealing narrative about market sentiment. The divergence between high leverage and increased hedging activities also reminds us that market dynamics are rarely straightforward, and adopting a 

 seems increasingly important in this diverse market.

: Investing in cryptocurrencies and their derivatives involves substantial risk of loss, and isn’t suitable for every investor. This article provides facts for educational purposes only, and does not represent any financial advice. Prior to making any investment decisions, please ensure you fully understand the risks involved and seek independent advice if necessary. Our customer support team is available to assist you with any inquiries.

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Learn From Smart Money: BTC’s Leverage Remains High as Traders Hedge Against Downside Risks

Our weekly crypto derivatives analytics report dives into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

Spot prices have jumped significantly in the two weeks following the November 5, 2024 U.S. elections, propelling Bitcoin to new all-time highs, while Ethereum hasn’t kept pace. The implied volatility term structure has inverted again in tandem with these spot price movements, although longer-dated tenors remain relatively stable. Derivatives market indicators reflect strong positive sentiment: perpetual funding rates are consistently positive, open interest in futures contracts is rapidly increasing and options skew remains firmly positive.

Open interest in futures has surged, indicating heightened market participation and a growing interest in leveraged exposure due to recent price movements. Similarly, open interest in perpetual contracts has sharply increased, fueled by rising trader confidence and a growing demand for leveraged positions in light of recent market rallies. Meanwhile, the implied volatility term structure continues to invert in alignment with spot price increases, demonstrating a sustained correlation between spot prices and volatility.

Please check out the report’s highlights.

Futures Open Interest Reaches ATH Along With Price

Perpetual swap open interest has been increasing alongside futures, with a consistent rise in open positions over the past week reaching all-time high activity levels. This trend suggests that traders are actively pursuing leveraged exposure in response to the ongoing spot rallies, aiming to capitalize on the rising spot prices. Notably, there’s been renewed interest in Ethereum (ETH), reflected in rising trading volumes. 

Perpetual swap funding rates have reached exceptionally positive levels, indicating that long positions are confident enough to pay these rates to sustain their leveraged exposure. This trend has consistently been observed across all tokens, with a noticeable rise in funding rates since Nov 10, 2024. The persistently high funding rates highlight the strength of the bullish sentiment, which is also evident in the increasing open interest in futures contracts. This aligns with the recent spot price action, demonstrating significant upward momentum.

Option Volatility Term Structure Inverts 

The implied volatility term structure for Bitcoin has inverted amid the recent spot rallies over the past few weeks, indicating heightened market uncertainty and expectations of imminent price movements. However, levels haven’t exceeded the highs seen before the elections, and longer-dated tenors remain firmly range-bound. Concurrently, open interest in Bitcoin options has risen significantly, with a notable increase in put trading volumes. Open interest in puts has slightly surpassed calls, despite the persistently bullish market outlook indicated by the volatility smile skew.

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 20, 2024): Market Becomes Extremely Positive About Bitcoin as Volatility Curve Turns Invert

Learn how to join Bybit's VIP Program, where you can realize exclusive benefits — from up to 50% off trading fees and tailored interest rates to instant OTC trades up to $10M.

With the Bybit VIP Program, you can realize exclusive benefits — from up to 50% off trading fees and tailored interest rates to instant OTC trades, Bybit Card cashback and more. Joining the ranks of the very best traders on the platform will boost your profitability, raise your limits and offer access to VIP-only perks.

 and guides you through the steps to become a VIP trader and unlock exclusive benefits. Let's get started!

 is an exclusive club for the most esteemed traders in the crypto market. It’s designed to provide members an enhanced Bybit experience with numerous VIP-only benefits and perks. The program aims to reward avid traders who have high volumes, account equity levels and borrowing activities.

The Bybit VIP Program offers a multitude of benefits for members. These range from discounted trading fees and high limits for withdrawals and application programming interface (API) trades to priority Bybit customer support access, relationship managers and exclusive VIP events and meetups. You can find the full list of VIP exclusive benefits 

Requirements to Become a Bybit VIP Trader

You’ll need to fulfill a specific level for one of the criteria below to become a VIP trader on Bybit:

Bybit's VIP Program features six distinct tiers: 

. Each successively higher tier offers greater rewards, and also comes with more stringent qualification requirements. For instance, as a 

 trader, you’ll enjoy reduced trading fees, such as 0.03% for makers and 0.045% for takers in the spot market. To qualify for this exclusive tier, you must meet at least one of the following criteria:

Once you become a VIP trader, you must continuously meet the above criteria to maintain your Bybit VIP status and keep enjoying the benefits. 

However, this doesn't mean your account will immediately lose its VIP status and revert to standard after a single day in which you don’t meet the requirements. Bybit offers a 14-day grace during which you can continue enjoying VIP perks and benefits, even if you no longer meet the program's conditions. If the criteria are not met by the end of this period, your VIP status will automatically be revoked. However, if that occurs, you can regain your status by fulfilling the requirements for any VIP tier either during or after the grace period. When this happens, Bybit will grant you a new 14-day grace period.

How to Sign up to Become a Bybit VIP Trader

In the following section, you'll find a step-by-step guide that shows you how to join the Bybit VIP Program.

The first step to becoming a VIP trader is to open a Bybit account (if you haven't already done so). Simply 

 and fill out the form with your details. After registering, you’ll need to verify your account to enjoy the platform's full functionality.

Next, fund your Bybit account with crypto or fiat currency.

You can deposit cryptocurrencies by using the 

 menu. On the page, choose your desired coin and the blockchain where you'll be depositing the assets. To avoid any loss of funds, please always ensure that you're transferring crypto from the correct chain.

Next, copy-and-paste the wallet address displayed on the page, or scan the QR code with your smartphone's camera, and initiate the deposit from your wallet. After a few confirmations, your cryptocurrencies will be credited to your Bybit account.

To fund your Bybit account with fiat currency, click on the 

 button and select one of the available services (e.g., 

 service, choose a fiat currency, the deposit amount and one of the available payment methods. After clicking on 

, follow the instructions displayed on the next pages to initiate the transaction. Your funds will be credited to your Bybit account, with processing times varying according to your chosen service and payment method.

After you have a verified Bybit account funded with either crypto or fiat, perform eligible activity on the platform until you qualify for VIP status (see table below).

You can achieve VIP status by fulfilling a minimum level of VIP 1 in either of the following categories (

After becoming a VIP trader on Bybit, don't forget to maintain your VIP status to continue enjoying the exclusive perks and benefits.

If you have active VIP status at another crypto exchange, or your total MT5 trading volume meets Bybit's VIP criteria, you can apply for a VIP+2 upgrade. This upgrade will grant you VIP status on the platform — and instantly elevate it by two levels. (Please 

 that Bybit only considers 10% of any MT5 forex trading volume.)

 and submit your 30-day trading volume on your current exchange. Bybit’s VIP team will review your application, and a Relationship Manager will contact you if you're eligible for the VIP upgrade.

How to Get Started With a 20-Day Bybit VIP Trial

Another way to qualify for VIP status on Bybit is through a 20-day trial. Instead of fulfilling the requirements of the VIP 1 level, simply fund your account with $50,000 to enjoy the exclusive benefits of the program for 20 days with a VIP Trial Card (issued one day after your deposit). The VIP trial offer is available to users who haven't used a trial within the past two months.

To unlock the 20-day VIP trial, head to the 

 menu on Bybit and use one of the available payment methods to fund your account with $50,000 in assets.

With VIP Level-Up Tasks, you can earn generous bonuses as high as 6,000 USDT. You can claim rewards for Level-Up Tasks for five VIP levels (VIP 1, VIP 2, VIP 3, VIP 4 and VIP 5), with higher tiers offering greater bonuses upon completion.

If you're eligible, you’ll see a pop-up window with VIP Level-Up Tasks after you log into your account. To claim your rewards, complete the specified trading volume requirement within 14 days of receiving the task, and click on the 

 page. You can learn more about Bybit VIP Level-Up Tasks

Exclusive Trading Benefits Offered to Bybit VIPs

As a member of the Bybit VIP Program, you can unlock exclusive benefits to supercharge your trading experience. Among these are discounted trading fees (which can significantly boost your trading revenue), profitability and chances of winning trades.

In addition to discounted trading fees, you’ll also enjoy substantially higher API trading and withdrawal limits. While the former is restricted to 10 trades per second for non-VIP users, you can take advantage of up to 120 API trades per second as a VIP trader. Simultaneously, your daily withdrawal limit is increased from the basic 1 million USDT to as high as 12 million USDT.

 is an exclusive club that provides an enhanced service experience for the most esteemed traders. As a member, you can access a multitude of exclusive benefits and perks, such as the following:

Are you ready to supercharge your trading experience? 

Intermediate

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How to Become a Bybit VIP: Your Guide to Exclusive Benefits

LETSTOP is a drive-to-earn mobile app that monitors phone distractions while driving. Learn more about how it works in this article.

Smartphone distractions have created an unprecedented road safety crisis worldwide. 

: texting behind the wheel makes drivers six times more likely to crash than drunk driving does — yet millions of drivers still use their phones while operating vehicles.

This article explores how LETSTOP is transforming safe driving into rewarding experiences through blockchain technology. We'll examine its drive-to-earn model, reward system, tokenomics and potential as both a road safety solution and an investment opportunity.

 is a drive-to-earn mobile app that monitors phone distractions while driving. Users earn STOP tokens for phone-free driving through a gamified system that transforms daily drives into rewarding experiences.

A life-changing car accident caused by a distracted driver running a red light inspired LETSTOP co-founder Almog Nissan to reimagine road safety. Together with co-founder and CEO Dor Levy, they envisioned rewarding safe driving, rather than just punishing dangerous behavior.

The founders built a platform that combines automotive technology, cryptocurrency and AI to revolutionize road safety through rewards. This innovative approach has quickly gained traction, with over 50,000 users logging over 3 million kilometers of safe driving since the app’s launch.

Distracted driving claims thousands of lives annually, with 

, of which 9% are directly linked to phone use. LETSTOP aims to tackle this crisis as follows:

Each of these objectives works harmoniously to support LETSTOP's ultimate mission of transforming road safety into a rewarding experience that benefits both individual drivers and society.

The LETSTOP app operates through a sophisticated system that monitors and rewards safe driving through the following apps and features:

The result is a dynamic system in which better driving habits unlock greater earning potential.

The following five core features power LETSTOP's drive-to-earn ecosystem.

LETSTOP uses a dynamic 40-level system to make safe driving rewarding. As drivers earn XP through distraction-free journeys, they advance from Level 1's 2% bonus toward Level 40's 70% boost. Through this gamified approach, daily commutes become opportunities to climb the ranks while building safer driving habits.

LETSTOP Credits are the core currency of the platform, earned directly through safe driving achievements. Earning rates directly scale with user level, vehicle type and subscription tier as follows: PRO subscribers enjoy unlimited earning potential, while PLUS and LITE tiers are capped at 300 and 150 monthly credits, respectively.

In the STOP Store, users invest their earned credits into virtual cars with unique earning multipliers. From the basic model's 2% bonus to the Jazzster GN's 150% boost, each vehicle offers different strategic advantages for maximizing rewards.

Beyond vehicles, the store features mystery boxes containing rewards from 10 to 450 credits, as well as car upgrades and subscription boosts. Users can also access a voucher marketplace to redeem credits for real-world rewards through LETSTOP's partnership network.

LETSTOP's triple-boost system combines vehicle multipliers for immediate earnings acceleration, a level-progression system for sustained growth and a 5% referral program for community expansion. Premium membership unlocks enhanced benefits across three tiers, while special events create time-limited opportunities for increased rewards.

The platform's comprehensive rewards system operates across three membership tiers, each one tailored to different user needs. LETSTOP PRO (at $9.90 monthly) offers unlimited credit earning potential and exclusive benefits. The PLUS tier provides a balanced option at $4.90 monthly with a 300-credit earning cap, while the free LITE tier allows users to earn up to 150 monthly credits.

Beyond direct earnings, the rewards system incorporates partner vouchers, cryptocurrency conversion options and community features, such as leaderboards. Achievement rewards recognize milestones in users' safe driving journeys, while the upcoming cryptocurrency integration will allow users to convert their efforts into tradeable STOP tokens.

LETSTOP has shown consistent progress, with the following key milestones already achieved:

Looking ahead to 2025, LETSTOP plans to implement the following key developments:

These developments aim to strengthen LETSTOP's position as a leader in drive-to-earn while furthering its mission to enable safer roads worldwide.

STOP is an SPL token built on the Solana network. It’s designed to bridge safe driving behavior with cryptocurrency rewards. The STOP token implements an annual halving mechanism to ensure long-term value preservation, similar to Bitcoin's model, but accelerated to align with the project's growth trajectory.

STOP has a max supply of 100 million tokens, to be distributed in the following manner:

The growing adoption of LETSTOP's drive-to-earn app and its impact on road safety directly influence STOP's price trajectory. While cryptocurrency forecasts remain speculative by nature, multiple price analysis platforms project the following for STOP:

These forecasts suggest a positive long-term outlook for STOP, driven by the growing drive-to-earn sector and LETSTOP's innovative approach to road safety. However, STOP's future value will ultimately depend upon user adoption, platform development and broader market conditions.

Looking to trade LETSTOP tokens? Bybit now offers the STOP/USDT Spot trading pair. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

STOP shows promising potential in the drive-to-earn sector, though investors should carefully weigh both its strengths and potential risks before making investment decisions.

While STOP's innovative approach to road safety and its strong initial traction distinguish it in the market, potential investors should 

 and invest no more than they can afford to lose.

As smartphone distractions continue to endanger lives on roads worldwide, LETSTOP offers an innovative path forward. Through its innovative drive-to-earn model and STOP token ecosystem, the platform transforms daily commutes into safer roads and user earnings opportunities, showing how digital innovation can effectively “drive” positive behavioral change.

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LETSTOP (STOP): Turning Daily Rides Into Profitable Journeys

Bybit Learn

Blockchain

Altcoins

Polygon 2.0 is the next generation of the Layer 2 Polygon network, which seeks to create unlimited scalability and unification of information exchange via its Value Layer. 

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 projects trying to address the network's cost and speed inefficiencies have been introduced. Among these projects, Polygon (POL) stands out as one of the most popular and influential.

The Polygon ecosystem is a set of mostly Layer 2 technologies that allow users to conduct Ethereum transactions in a more cost-effective and scalable way than using the blockchain's Layer 1 directly. Founded in 2017 as Matic Network (MATIC), the project rebranded to Polygon in early 2021 while still keeping the MATIC token as its native cryptocurrency.

In September 2024, the Polygon project completed a pivotal native token migration — from MATIC to the new POL crypto — as part of its Polygon 2.0 initiative. The transition to the new Polygon ecosystem token, POL, isn't just a name change: the new cryptocurrency brings functional and security improvements and extensions that will help the Polygon project in its quest to become the leading Ethereum-linked Layer 2 ecosystem.

 started out in 2017 as a proposed Layer 2 solution to address the cost and speed inefficiencies of Ethereum. The project was founded by a group of technology entrepreneurs and blockchain enthusiasts — Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic. From 2017 to 2020 the project team was involved in developing and promoting its Layer solution, based on a 

 (PoS) sidechain anchored to Ethereum. The project conducted an 

 (ICO) for its original native token, MATIC, in April 2019.

In May 2020, the Polygon sidechain (then named Matic Network) had its official mainnet launch. The MATIC token was originally issued on Ethereum as an 

 asset, and could be bridged to Polygon PoS. It had three primary functions: transaction fee payments, 

. The last function, however, was used exclusively via the Ethereum blockchain — i.e., MATIC could only be staked on Ethereum, and not directly on Polygon PoS. In essence, this limitation meant that MATIC would serve mainly as a gas fee token on Polygon, with some additional governance functionality.

In terms of its tokenomics, MATIC was designed as a supply-capped token. Its total and maximum supply were set at 10 billion.

Polygon's ecosystem of products and Layer 2 solutions grew following the PoS chain's introduction (more on that below). The network’s fragmentation, along with the limitations of MATIC's functionality, prompted active research and development by the project team.

 — a new iteration of the platform that would improve its scalability, staking functionality, security and cross-platform interoperability. A month later, plans for the new POL token to replace MATIC were unveiled as well. POL is an integral part of the overall Polygon 2.0 vision, and is designed to drastically improve and expand MATIC's functionality.

The new token was issued on Ethereum in October 2023 with the intent to completely replace MATIC in the future. On Sep 4, 2024, Polygon officially transitioned to POL, with all of MATIC’s functions now carried out by the new token. Following the big switch, MATIC holders can still convert their tokens to POL on a 1:1 basis, using the 

Polygon 2.0 is the next generation of the Layer 2 Polygon network, which seeks to create unlimited scalability and unification of information exchange via its Value Layer.

Polygon 2.0 is a newly proposed protocol that combines all of Polygon's current protocols with 

 (ZK) technology to produce a Value Layer, which enables seamless use of the Polygon network and expands Ethereum to an internet scale. 

Among the improvements introduced in Polygon 2.0 are enhanced decentralization in community governance, a token upgrade, multi-layered network architecture and a ZK ecosystem. These advancements will enable the network to securely support an unlimited number of chains, making user interaction with the entire Polygon ecosystem as smooth as interaction with a single chain.

Founded as Matic Network in 2017, Polygon was created to act as a sidechain that helps scale Ethereum. The project later rebranded as Polygon (while retaining the MATIC token). Despite the rebranding and technological upgrades, such as the shift from 

, Polygon remains a fragmented system that faces challenges in liquidity and user experience, due to the presence of multiple public chains like 

To unify the ecosystem, Polygon 2.0 has been proposed as a way to merge its public chains with its Supernet chains. The plan encompasses improvements in key areas like 

 and protocol architecture. These enhancements will collaboratively facilitate cross-chain interactions, offering users the advantages of utilizing different chains while enjoying a seamless experience akin to a single chain.

Upgrades to Polygon will be done in stages, starting from the upgrade of the Polygon PoS chain. 

As of September 2024, the complete transition to Polygon 2.0 is still in progress, with most of the protocol upgrades in active development or test phases.

The project's main network, the Polygon PoS sidechain, will be upgraded to ZK Validium, a Layer 2 solution in which off-chain data availability is used to validate transactions more efficiently. Polygon's Validium will leverage 

 for transaction validation. The architectural change from a sidechain to Validium should improve the platform's processing capacity and scalability. Testing of the zkEVM Validium chain was held from November 2023 to January 2024.

Polygon zkEVM Upgrade From Type 3 to Type 2

Besides the Polygon PoS chain, another major Layer 2 solution within the project's ecosystem is zkEVM, a ZK-based rollup platform designed to drastically improve the cost and scalability of Ethereum transactions. While Polygon PoS, a sidechain, has its own functional network that can process transactions independently from Ethereum, zkEVM relies heavily on the underlying Ethereum chain and is more integrated with it.

 (EVM)–compatible platform that is almost EVM equivalent. The plan is to transition it to a Type 2 system, which offers higher compatibility with Ethereum and features full EVM equivalence.

, a development framework for designing and launching customizable ZK-based Layer 2 chains. In early 2024, Polygon CDK was upgraded to support functionality that lets any EVM-compatible chain function as a ZK Layer 2 network. This upgrade also makes it possible for chains developed using the CDK to join the platform's 

 (AggLayer), a critical part of the Polygon 2.0 architecture.

Polygon's AggLayer is envisioned to act as a protocol that unifies multiple blockchains, providing the same integrated user interface and creating a virtual single-chain-like experience. Networks in the AggLayer will benefit from cross-chain compatibility and optimized asset transfers between them.

Polygon Miden is a ZK technology–based Layer 2 rollup solution based on the Miden Virtual Machine (MVM). Written in the Rust programming language, Miden VM offers certain advantages over EVM, such as enhanced throughput and privacy of transacting on Ethereum. It’ss designed specifically for developers who wish to integrate privacy into their 

 was released in early 2024, with the Miden Alpha Testnet v2 launched in June 2024. This was quickly followed by the July 2024 release of the third version. As of the time of this writing in late September 2024, Polygon Miden is in its fourth Testnet state.

: When the zkEVM Validium L2 chain is complete, Polygon 2.0 will consist of 

: the Staking Layer, AggLayer, Execution Layer and Proving Layer. 

: On Sep 4, 2024, the MATIC token was upgraded to POL, with all of its key functionalities — gas fee payments, staking and governance — now carried out by the new POL cryptocurrency.

: To tie the whole of Polygon 2.0 together, the Polygon community will be given complete control over the entire Polygon ecosystem via a 

: Protocol Governance, System Smart Contract Governance and Community Treasury Governance. The compartmentalization created by the three pillars will make governance more efficient and scalable. 

The Polygon 2.0 updates are designed to consolidate all of the current Polygon protocols for unlimited scalability and unified liquidity, while also offering the benefits available via Ethereum. Two main objectives will be accomplished: Users’ privacy and transaction costs will be improved by storing validated transactions on Layer 1 Ethereum and actual data on Layer 2 Polygon. In addition, multiple Polygon chains will be supported, with no limit on cross-chain interactions. This will give users a more robust experience that will still seem like using a single chain. 

Each of the four layers of the new Polygon 2.0 ecosystem is responsible for a specific process. 

Collectively, these core layers establish Polygon 2.0 as the 

The POL token is now fully operational, and carries out the three main functions previously supported by MATIC (governance, gas fee payments and staking for the Polygon PoS chain). Holders of POL can participate in votes on the future direction of the protocol. 

For the future, governance functionalities and the involvement of POL holders in on-platform decision-making will further expand to cover three key areas — protocol governance, 

 details governance and community treasury allocations. POL will also be used as a unified gas fee payment asset across all chains under the Polygon Supernet structure.

Unlike MATIC, which had a hard supply cap of 10 billion, POL has no maximum supply limitation. Its initial total supply was specified at 10 billion, exactly the same number as the supply of MATIC. However, as it includes an annual 2% emissions rate for a period of 10 years, its supply is expected to grow within this period. As of late September 2024, POL's total supply already stands at around 10.26 billion, while its circulating supply is approximately 7.27 billion.

The emissions will be split equally between validator rewards (to incentivize long-term staking, which will help secure and scale the Polygon network) and allocation for the community treasury (to spur innovation and research). The emissions are adjustable and can be changed via community governance.

 with USDT via Bybit’s Derivatives market. The Perp contract allows you to trade POL with up to 75x leverage.

As of Sep 27, 2024, the POL token is trading at $0.4299 (66.6% lower than its all-time high of $1.29 on Mar 13, 2024, and 24.6% higher than its all-time low of $0.345 on Aug 5, 2024).

Long-term price forecasts for POL are generally bullish. PricePrediction 

 to trade at $0.78 in 2025 and $5.33 in 2030, while DigitalCoinPrice 

While several other L2 projects are undergoing similar expansion — such as the 

, which integrates all of its OP Mainnet with other L2s to enhance scalability — 

Polygon's transition is perhaps the most notable development in this space.

You might consider investing in the POL token based on Polygon's standing as one of the leaders in the Layer 2 arena. Additionally, the finalization of the move to Polygon 2.0 is also expected to boost the token's position in the future.

While investing in POL could be profitable, this is not financial advice. Always complete your own thorough, 

The Polygon ecosystem has long been a leading Layer 2 project, but advancements introduced in other newer projects have resulted in the need for significant improvements. Polygon Labs, developers and other contributors have produced Polygon 2.0 in response to this need. 

When Polygon 2.0 is completely functional in its final state, its project will hope to lay claim to the title of undisputed leader among Ethereum Layer 2 environments.

Polygon 2.0 (POL): Transitioning from MATIC to POL

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