• Polygon token POL (previously MATIC) price rose to highs of $0.24 on Wednesday.
• Beneficial properties got here as Polygon co-founder Nailwal Sandeep introduced he had taken management as the brand new Polygon Basis CEO.
• General crypto bounce additionally helped POL price increased.

The Polygon ecosystem token, POL (previously MATIC), has seen a notable price improve prior to now 24 hours amid information co-founder Nailwal Sandeep is now the brand new chief govt officer of Polygon Basis.

Per knowledge from CoinMarketCap, the price of POL was up 6% and at round $0.23 on the time of writing on June 11, 2025.

The ex-MATIC token’s worth reached a excessive of $0.24 because the every day buying and selling quantity rose 48% to over $185 million.

POL’s market cap stood at round $2.45 billion.

Polygon jumps with different altcoins

POL price jumped amid total features for prime altcoins and Bitcoin’s rally to $110k.

Ethereum, Solana, and XRP had been among the many prime gainers, as was Stellar’s price.

Nevertheless, greater than the altcoin surge, the uptick in POL token’s price coincided with important management adjustments on the Polygon Basis.

Notably, Polygon co-founder Sandeep Nailwal introduced on June 11 that he was assuming full management of Polygon Basis as CEO.

The transfer comes just a few weeks after co-founder Mihailo Bjelic turned the third of 4 co-founders of Polygon to depart the venture.

Vital replace from @sandeepnailwal 💪 https://t.co/tPPRSgbUuc

— Polygon (@0xPolygon) June 11, 2025

Bjelic stepping down from the Polygon Basis noticed him be part of Jaynti Kanani and Anurag Arjun, who had been the primary two to exit.

Nailwal’s transfer subsequently indicators a large strategic pivot for Polygon.

Bulls had been additionally seeking to prolong features as Polygon eyes additional progress following key progress metrics in Might.

Amongst prime wins for the ecosystem within the month was the spike in complete transfers, which elevated by 20%, from $67.4 million in April to over $81 million.

In the meantime, switch quantity rose 5.3% to $141 billion over the month, and lively addresses surged 16.3% to five.6 million.

A rise in stablecoin provide, with the metric up 8.2% in Might to $2.1 billion, additionally pointed to huge curiosity.

This has contributed to POL’s price breaking under $0.22.

Polygon Basis’s first CEO

In an in depth put up on X, Sandeep Nailwal talked about that he’s Polygon’s largest POL holder and a driving power behind its improvement.

He’s now the primary CEO of Polygon Basis, Sandeep famous.

“I’ve always stayed away from moving into the CEO role because I’ve been focused on building PF as an institutionally governed foundation. But right now, Polygon needs clear direction and focused execution, and that means stepping up,” the Polygon co-founder wrote on X.

Nailwal’s management will see him oversee a number of entities round Polygon, together with Polygon Labs, which can proceed to be beneath the present CEO, Marc Boiron.

Whereas there are lots of areas of focus for Polygon Basis beneath Nailwal, the brand new CEO notes that the workforce will deprecate the Polygon zkEVM platform.

It means a zeroing in on each Polygon PoS and the Agglayer.

Polygon PoS will goal stablecoin funds and real-world property (RWAs), whereas Agglayer goals to construct a “trustless Internet of Blockchains.”

In the meantime, Agglayer v0.3, set to roll out the week of June 30, 2025, shall be feature-complete apart from quick interoperability, slated for completion by Q3’s finish.

The Agglayer Breakout program will spin off initiatives, together with Polygon ZisK, led by Jordi Baylina, fostering airdrops for POL stakers.

“With a healthy treasury and several hundred million in cash, we’re in a great position to keep building for the long term, without any distractions or pressure to raise,” Nailwal added.

POL price reached highs of $1.29 in March 2024.