POL drops 5% as Polygon shutdown rumors spark panic selling
- —POL trades near $0.1024, testing the 50-day EMA at $0.1020
- —POL futures open interest fell 13% to $101.78 million
- —Funding rate dropped to -0.0071% from -0.0020% a day earlier
- —Polygon's social dominance hit 0.76% amid the rumors
Why it matters: A confirmed break below $0.10 support could open the way to $0.096 and the August 31 low of $0.0863, while a hold may revive a move toward $0.1237.
Source: FXStreet Crypto