-
Back to menu
Prices
-
Back to menu
-
Back to menu
Indices -
Back to menu
Research
-
Back to menu
Events -
Back to menu
Sponsored
-
Back to menu
Videos -
Back to menu
-
Back to menu
-
Back to menu
Webinars
Select Language
By CD Analytics, Helene Braun|Edited by Cheyenne Ligon
Aug 14, 2025, 6:38 p.m.
- Polygon’s POL token slid 6% to $0.24 Thursday after breaking key support, as surging U.S. wholesale inflation rattled risk assets.
- Trading volume spiked to 1.1 million units — more than triple its daily average — after a sharp rejection at the $0.26 resistance level.
- The CoinDesk 20 Index fell 4% over the same period, with profit-taking accelerating across major cryptocurrencies.
Polygon’s POL token tumbled 6% on Thursday, falling through key support levels as higher-than-expected U.S. inflation data shook risk assets.
STORY CONTINUES BELOW
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.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
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.
More For You
By Helene Braun, Krisztian Sandor|Edited by Sheldon Reback
2 hours ago
Market strategists said the crypto rally’s broader outlook remains positive despite the largest long liquidations since early August.
What to know:
- Bitcoin’s pullback from record highs to $118,000 rippled through the crypto market, triggering over $1 billion liquidations across digital assets.
- The sell-off marks a healthy profit-taking, not a reversal, as Fed rate-cut hopes and ETF inflows still support bullish momentum, analysts said.
- Rising core inflation data and stretched valuations pose near-term risks, but institutional demand for crypto remains strong.
