
Polygon is advancing its onchain capabilities in the foreign exchange market, now supporting 20 currencies. This move is significant as the forex market is one of the largest globally, yet much of its activity remains offchain. The implications for traders and institutions could be profound as they look to leverage blockchain for more efficient operations. For further details, see Polygon’s official tweet here.
The Key Development
The broader crypto market is displaying mixed signals, with various assets showing sporadic momentum. Polygon’s recent initiative to bring foreign exchange transactions onchain is a notable development, as it aims to tap into a market that remains predominantly offchain. This could enhance transaction speed and reduce costs associated with traditional forex operations. Given Polygon’s recent growth in active USDC addresses, this move aligns with its strategy to solidify its position as a leading blockchain network.
Key Details
Polygon is now hosting 20 currencies on its platform. This expansion aims to capture the forex market. The move emphasizes the need for onchain solutions in large-scale financial transactions. Polygon’s infrastructure is designed to support rapid transactions at lower costs. The forex market’s current offchain dominance presents a significant opportunity for blockchain adoption.
What the Data Shows
Currently, Polygon’s price is stable at $0, with no reported trading volume in the last 24 hours. This stability may reflect market participants’ caution as they assess the long-term implications of Polygon’s onchain forex initiative. Moreover, the overall market sentiment remains varied, indicating that traders are looking for signals that could influence future price movements.
Polygon is a leading Ethereum scaling solution designed to provide faster and cheaper transactions. The foreign exchange market, being the largest financial market globally, is a key area where blockchain technology could streamline operations and improve efficiency. As such, Polygon’s entry into this space could disrupt traditional models, attracting institutional interest and expanding its user base.
Where Do We Go From Here
What traders should monitor next is Polygon’s execution of this onchain initiative and its impact on transaction volume. Key levels to watch include how quickly new currencies are adopted and the response from traditional forex players. Additionally, observing the implications for liquidity and market depth in the onchain environment will be crucial. If successful, this could lead to increased adoption of blockchain solutions in other financial sectors as well.
The post Polygon Targets Forex Market Onchain, Pushing 20 Currencies appeared first on Coinfomania.$GRVT

In the seven days leading up to September 12, NFT market sales rebounded to $46.78 million, marking a 6.8% increase from the previous reporting period. However, this growth was not accompanied by a broadening of the buyer base. Instead, the number of active buyer and seller addresses dropped sharply while the total number of transactions rose significantly, indicating that this week's trading activity was concentrated among a smaller number of active addresses and high-value transactions.
**Sharp Drop in Active Addresses Amidst Rising Transaction Volume**
Data from CryptoSlam shows that the number of NFT buyer addresses fell to 41,959 this week, an 84.67% decrease, while the number of seller addresses dropped to 43,247, a decline of 85.13%. Meanwhile, the number of on-chain transactions rose to 917,549, an increase of 48.75%.
This implies that the rise in sales volume does not equate to a wider scope of market participation. In terms of addresses, there was a marked reduction in participating wallets; however, the frequency of resales within the week and certain high-value transactions drove up the total sales figure.
**Ethereum Remains Top; Bitcoin Sees Faster Growth**
Regarding the distribution across public blockchains, Ethereum remained the network with the highest NFT sales, recording $16.83 million—though this represented a 6.36% decline from the previous week. Bitcoin ranked second, with sales rising to $9.44 million, a weekly increase of 50.12%.
Polygon ranked third with $7.71 million in sales (up 7.73%), followed by BNB Chain at $4.02 million (up 25.99%), Base at $2.48 million (down 35.34%), and Solana at $2.30 million (up 32.91%). Together, the top six networks contributed approximately $42.78 million, accounting for the vast majority of global sales.
It is worth noting that the number of buyer addresses declined across several major networks. The number of buyer addresses dropped by 79.37% for Ethereum and 82.79% for Bitcoin; BNB Chain saw a decline of approximately 90%, while Base fell by 86.97%. This indicates that the growth in sales volume stemmed more from changes in trading structure than from a continuous influx of new users.
**Polygon’s Courtyard Ranks First**
By collection, Polygon’s Courtyard ranked first with $6.67 million in sales—an 8.46% weekly increase—across 104,404 transactions. As the project represents ownership certificates for physical collectibles, its high-frequency trading pattern differs significantly from that of traditional digital avatar NFTs.
Ethereum’s Argonauts ranked second with $4.36 million in sales, up 109.04% from the previous week. However, the collection saw a 25.14% drop in transaction count and a 21.72% decrease in buyer addresses, suggesting that the sales growth was driven primarily by a rise in the value of individual transactions.
Bitcoin’s $X@AI BRC-20 NFTs ranked third, achieving $2.9 million in sales—a weekly increase of 217.88%—though this was driven by just nine transactions involving seven buyer addresses. The largest single transaction for the collection was approximately $2.1 million, accounting for about 72% of its weekly sales volume.
Another Bitcoin collection, $X@AGI BRC-20 NFTs, ranked fourth with $1.72 million in sales across only three transactions. Due to the small sample size, its weekly growth rate was amplified to 7,762.30%.
**Large Bitcoin Transactions Dominate This Week’s Rankings**
The top five single NFT transactions listed by CryptoSlam all involved Bitcoin BRC-20 NFTs. The largest transaction was an $X@AI BRC-20 NFT, which sold for approximately $2.096 million (settled at 26.2326 BTC). Subsequent transactions came from the $X@AGI and $X@AI series; the top five sales totaled approximately $4.61 million, accounting for nearly half of Bitcoin's total NFT sales volume for the week. In other words, the rise in Bitcoin-based NFT sales was driven largely by a small number of high-value transactions rather than a broad, synchronized resurgence in demand for collectibles.$BTC

📊 POL IS BUILDING A TIGHT RANGE AROUND VALUE
POL/USDT on the 15m chart is near 0.09280 after recovering from the sharp selloff. Buyers defended the 0.0910–0.0915 area and pushed price back toward the POC at 0.09312. Since then, candles have compressed beneath 0.0935, leaving a clear decision point.
The chart favors a tactical long while the marked risk level holds. I would treat this as a range-reclaim setup rather than chase momentum.
🔍 THE PIVOT IS 0.09312
A clean reclaim of the POC followed by a hold above it would improve the chance of another push into the 0.09366 VAH.
Entry: 0.09280–0.09300
Invalidation: 0.09206
TP1: 0.09428
TP2: 0.09503
If price loses 0.09206 first, the setup is invalid and the VAL at 0.09148 becomes the next important reference.
📈 LET THE REBOUND PROVE ITSELF
The earlier breakdown was aggressive, but buyers recovered much of the move. Price then formed repeated reactions around 0.0925–0.0933. That compression matters. Acceptance above 0.09312 would show demand reclaiming the main volume area.
The 0.09366 VAH is the next checkpoint. A sustained move above it supports the path toward 0.09428 and 0.09503. Rejection below the POC keeps POL inside the local balance.
⚙ EXECUTION MATTERS TOO
S T O N brings an independent DeFi perspective through liquidity aggregation and route discovery. When liquidity is fragmented across markets, comparing available paths can affect execution quality. That utility is separate from POL and is not directional confirmation.
The setup has defined risk: 0.09206 protects the thesis, 0.09312 is the pivot, and 0.09366 is the breakout checkpoint. Hold the pivot and the marked targets stay active. Lose it, and patience becomes the better trade.
A hold above 0.09312 would turn the recent resistance into support, giving buyers a firmer base before the next attempt at the upper value area too.
NFA - DYOR
$POL