Polygon’s POL Token Surges Ahead of July 10 Heimdall v2 Upgrade

Polygon’s POL token is experiencing a surge in momentum as the network prepares for the Heimdall v2 mainnet upgrade, scheduled for July 10. This upgrade represents a pivotal moment in Polygon’s development roadmap, as it transitions from Tendermint and Cosmos-SDK v0.37 to CometBFT and Cosmos-SDK v0.50. This shift is considered the most technically complex hard fork since Polygon’s proof-of-stake launch in 2020, according to co-founder Sandeep Nailwal.

The Heimdall v2 upgrade aims to enhance the network’s security, stability, and traceability, which are crucial for applications in regulated sectors. By removing legacy code from 2018–2019, the upgrade reduces technical debt and simplifies network maintenance. This move is part of Polygon’s broader strategy to scale its proof-of-stake throughput to 1,000 transactions per second by July, with an ultimate goal of exceeding 5,000 transactions per second by October through the use of AggLayer.

The mainnet upgrade is set to occur between 2:00 PM and 5:00 PM UTC at block height 24,404,500. Node operators have been advised to switch to Heimdall v1.2.5 or fallback to version 1.2.4 to ensure post-fork compatibility. During the migration, finality may lag by up to 3 hours, prompting decentralized applications (dApps) to temporarily raise confirmation thresholds.

The successful deployment of the upgrade on the Amoy testnet on June 24 has boosted confidence in a smooth transition. Key improvements tested on the testnet include PIP-62 and PIP-44, which focus on dependency handling and genesis state import, respectively.

The POL token has shown early signs of a breakout, surpassing both the 20-day exponential moving average at $0.1686 and the 20-day simple moving average at $0.1823. The widening of the Bollinger Bands suggests increased volatility, with the intraday break of the upper band at $0.1960 indicating upward momentum. The relative strength index stands at 56.78, nearing overbought territory but still with room to rise. If bulls maintain support above $0.196, POL could retest the $0.22–$0.24 range. Conversely, a drop below $0.19 could see the price revert to the lower Bollinger Band at $0.168.

While technical indicators point to a bullish outlook, the success of the upgrade and network stability on July 10 will be critical in determining the token’s price action. The upgrade is expected to bolster Polygon’s position in the market, potentially driving further adoption and investment in the network.