Polygon price moved sideways on Monday as investors awaited the upcoming Lisovo hard fork, scheduled for March 4. POL token was trading at $0.1050, down by nearly 90% from its highest level in December 2024.
Lisovo Hard Fork to be Key Catalyst for Polygon Price
POL price remained in a tight range on Monday as investors focused on the upcoming Lisovo hard fork, scheduled for block height 83.75 million on March 4 this year.
This is an important hard fork that will introduce new features to the network, including support for the CLZ opcode, which will enhance the efficiency of bit-level math, enabling better on-chain cryptographic functions.
The hard fork will also introduce gas cost subsidies, improved smart contract compatibility, and better wallet support.
This upgrade comes at a time when the Polygon network is doing well despite the ongoing crypto market crash. Data compiled by Nansen shows that the network handled over 215 million transactions in the last 30 days, up by 27%.
More data revealed that the network fees jumped by 25% in the same period to over $5.38 million, making it the second-biggest layer-2 network after Base, which made over $11.8 million. Its fee growth is important because Polygon burns most of its fees, making it one of the top deflationary coins in the crypto market.
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Polygon has benefited from its strong market share in the payments industry, where it is used by some of the top companies, including popular names such as Stripe, Shift4 Payments, and Revolut. Its stablecoin supply rose to over $3.3 billion as addresses soared to 5.5 million.
Additionally, it powers Polymarket, a platform that handles billions of dollars in volume each month.
Data compiled by DeFi Llama shows that the network handled over $348 million in the last 24 hours and $7.2 billion in the last 30 days. Most of the volume came from Polymarket, followed by Uniswap and QuickSwap.
POL Price Technical Analysis
The daily timeframe chart shows that the POL price has remained in a tight range in the past few weeks. It has formed a double-bottom pattern at $0.0985 and a neckline at $0.1853. This is one of the most common bullish reversal signs in technical analysis.
Therefore, the most likely scenario is a rebound in Polygon price that hits the neckline at $0.1853, up 88% from the current level.
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