Polygon’s native token, POL (formerly MATIC), experienced a significant surge in price, breaking out of its five-month downtrend and reaching a new high above $0.26. The rise is attributed to a combination of factors including robust DeFi activity and increasing institutional interest. 24-hour trading volume for POL soared by nearly 270%, indicating increased buying pressure. Additionally, open interest in POL futures has been rising, suggesting greater investment activity from derivatives traders. This rally coincides with Polygon’s launch of the Agglayer Breakout Program, which aims to incubate promising blockchain startups that utilize the Agglayer platform and Polygon network. This program provides funding, resources, and token airdrops for successful projects, leading to a positive market response and investor confidence.