Polygon (POL) is one of the widely used payment chains, with its volume matching or even exceeding that of established networks like Solana (SOL).
Over the past 24 hours, POL price declined by more than 1% after falling below the support level at $0.07161. The altcoin price is currently trading at around $0.06948. Despite the decline in price action, its network business and fundamentals are growing.
An overview of Polygon’s strong network activity and fundamentals!
According to Sandeep Nailwal, founder and CEO of Polygon, the network has burned over 107 million POL tokens in 2026 alone. He celebrated the moment on X by marking,
Officially net deflationary this year.
All of this was happening despite Polygon creating over 105 million POL tokens. The tokens burned came from base fees collected, resulting in a slightly reduced circulating supply.
In contrast, Ethereum (ETH), Solana, and Sui Network (SUI) have added hundreds of millions of dollars worth of new tokens to the market.
The high fees came from the increase in transactions as a payment protocol. In fact, Polygon recorded the highest stablecoin volume in May among all payment networks, recording 198 million.
At the same time, whale activity and staking intensified.
For example, a whale migrated from 17.512 million MATIC to 17.512 million POL worth $1.25 million. This indicated that some whales were still confident in the Polygon project.
At the same time, a multisig wallet linked to Stader Labs and Polygon staked 11 million POL worth $839.41K. In total, the wallet has staked over 28 million POL tokens, which has helped reduce the circulating supply in the market and improve network security.
While the Polygon chain has continued to show strong fundamentals and network activity, its price action is collapsing.
But why is the price of POL stagnating?
Since the end of 2024, Polygon has been in a constant descent. A close look at the price action shows that the altcoin has entered a consolidation phase in the form of a triangle pattern, which is close to a breakout point.
The weekly chart shows that sellers have been strongly dominant from October 2025, with the Bull Bear Power indicator being red. The cumulative volume delta (CVD) also shows a sell-off, indicating that 670,000 POL was offloaded onto exchanges.
Therefore, Polygon price is stagnating due to technical weakness, even though the number of transactions and consumption rates are increasing.
Final summary
- Polygon has burned over 107 million POL tokens in 2026 while its trading volume reached 198 million in May.
- The price of POL was trading in a triangular pattern as it has been falling since the end of 2024.
