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The token’s rejection at $0.26 came amid a broad crypto pullback, with the CoinDesk 20 Index sliding 4% and rate-cut hopes fading.
Aug 14, 2025, 6:38 p.m.
Polygon's POL token tumbled 6% on Thursday, falling through key support levels as higher-than-expected U.S. inflation data shook risk assets.
POL traded in a wide 10% range over the past 24 hours, climbing from $0.25 to $0.26 in early trading before reversing sharply, data from CoinDesk Analytics shows.
A burst of selling sent the token down to $0.24, with trading volume spiking to 1.1 million units — more than triple its 24-hour average. The $0.26 mark has now emerged as a significant resistance zone after the high-volume rejection.
The selloff came alongside a broader market decline triggered by a U.S. producer price index (PPI) report showing a 0.9% month-over-month rise in July, the biggest jump in more than three years. The data, which measures wholesale inflation before it reaches consumers, dampened expectations for Federal Reserve rate cuts and pressured speculative assets.
The CoinDesk 20 Index, a benchmark for the broader crypto market, dropped 4% over the same period, as profit-taking accelerated across major tokens. POL was last changing hands near $0.24, with momentum indicators signaling further downside risk.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
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