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Polygon’s MATIC upgraded to POL, driving ‘hyper productive’ token utility

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In a notable development within the blockchain sector, Polygon has announced a major upgrade to its native MATIC token, rebranding it as POL. This change marks a significant milestone for the network, which aims to enhance its capabilities and broaden its impact in the decentralized ecosystem.

The Polygon team unveiled the upgrade through a detailed post on its official blog, highlighting the strategic rationale behind the transition from MATIC to POL. According to the announcement, the rebranding reflects Polygon’s evolving vision and its commitment to expanding beyond its initial scope. The upgrade is designed to optimize the network’s functionality, improve scalability, and offer users enhanced utility.

One of the key features of the POL token is its upgraded governance capabilities. With the transition, POL will incorporate advanced governance mechanisms, allowing token holders to have a more direct influence on the network’s development and decision-making processes. This move is expected to foster a more decentralized and community-driven approach to network upgrades and protocol changes.

Furthermore, the rebranding is accompanied by an overhaul of the tokenomics. The POL token will introduce new staking options and incentives, aimed at encouraging greater participation and commitment from the community. These changes are part of Polygon’s broader strategy to strengthen its ecosystem and attract a wider range of users and developers.

Polygon’s decision to upgrade its token comes at a time when the blockchain industry is witnessing rapid advancements and increased competition. By repositioning its native asset, Polygon aims to reinforce its role as a leading layer-2 scaling solution and enhance its value proposition within the broader crypto market.

The transition from MATIC to POL will be executed in phases, ensuring a smooth migration for existing token holders and network participants. Detailed guidelines and a timeline for the upgrade will be provided to ensure that the community is well-informed and prepared for the change.

In summary, the upgrade from MATIC to POL represents a significant evolution for Polygon, reflecting the network’s ambition to advance its technology and governance framework. As the blockchain landscape continues to evolve, this strategic move positions Polygon for future growth and development in the ever-changing crypto ecosystem.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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