POL (ex-MATIC) Transaction Suspension on Bithumb Affects Deposits and Withdrawals

Polygon has initiated a network upgrade that led to Bithumb suspending POL deposits and withdrawals. This temporary suspension is a precautionary measure to ensure the compatibility and stability of the blockchain network during the upgrade according to reports. Users can still trade POL on spot markets, but deposit and withdrawal requests will be queued or rejected until the upgrade completes. The goal of this upgrade is to improve network security, reduce gas fees, and increase throughput, which are essential for supporting the growing ecosystem of decentralized applications (dApps) and DeFi platforms according to reports.

In parallel, Polygon has announced its Open Money Stack initiative, a modular framework designed to unify on-chain and fiat financial systems. The project, led by co-founder Sandeep Nailwal and CEO Marc Boiron, aims to create an interoperable platform that allows businesses to use various components while remaining connected to other networks according to project documentation. This initiative aligns with broader DeFi trends and could significantly enhance the utility of the POL token. The announcement has already led to a quadrupling in chain fees and a significant increase in trading volumes, with POL trading volumes increasing by over 100% in the last 24 hours according to data.

Polygon's deflationary tokenomics strategy is another factor influencing the POL token's trajectory. Daily token burns and staking activity are expected to reduce the supply of POL, creating scarcity and potentially driving long-term value. Analysts suggest that this strategy could result in a 50% price surge in 2026 according to projections. Staking activity accounts for 3.6B tokens, further reinforcing deflationary pressure. Additionally, the Open Money Stack initiative is enabling real-world payments through platforms like Stripe and Revolut, enhancing POL's utility and adoption according to reports.

What Is the Impact of the Bithumb Suspension on POL Holders?

Bithumb's suspension of POL deposits and withdrawals will directly affect users who need immediate access to their funds. During the suspension period, users will not be able to deposit or withdraw POL, but trading will remain unaffected. This suspension is a standard practice during major blockchain upgrades to ensure network integrity according to industry standards. Any queued withdrawal requests will be processed once the suspension is lifted. Users are advised to monitor Bithumb's official channels for updates on when the service will be restored according to official statements.

The suspension is not expected to significantly impact the broader Polygon ecosystem, as the upgrade is a planned and necessary part of the network's evolution. Users who require immediate access to their POL holdings may be affected, but the suspension is expected to be temporary according to network analysis.

How Does the Open Money Stack Affect Market Sentiment?

The Open Money Stack initiative has been a key driver of recent momentum in the POL token. This initiative aims to create a modular framework that unifies on-chain and fiat financial systems, enabling instant and global transactions according to project details. The project has been well-received by investors, with the POL token experiencing a 15% price surge in the past 24 hours, reaching a one-month high of $0.15 according to market data.

Additionally, Polygon is reportedly close to acquiring Coinme, a major Bitcoin ATM operator with a presence in 49 U.S. states. This acquisition is seen as a strategic move to integrate traditional fiat infrastructure with blockchain technology, further enhancing the utility of the POL token according to industry reports.

The Open Money Stack initiative is not only beneficial for developers and users but also aligns with broader market trends. As the crypto industry continues to evolve, initiatives that bridge traditional finance and blockchain technology are likely to gain traction according to market analysis. The increase in trading volumes and the positive market reaction indicate strong investor confidence in the future of the Polygon ecosystem.

What Are the Key Risks and Opportunities for POL in 2026?

Polygon's deflationary tokenomics strategy is expected to create long-term value for POL holders. Annual burns of approximately 1 million POL tokens per day, equivalent to a projected 3.5% annual reduction in the total supply, are outpacing the 2% inflation rate according to supply data. This deflationary pressure is further reinforced by staking, with 36% of the total supply locked up in staking contracts according to on-chain data.

However, short-term volatility risks persist due to whale activity. For example, a large whale sold 7.4 million tokens in early 2026, which could lead to price corrections if key levels fail to hold according to market observations. Investors should monitor whale movements and technical levels to navigate potential profit-taking risks.

Despite these risks, the structural advantages of Polygon, including its deflationary mechanics and robust on-chain activity, suggest a strong long-term value proposition for the POL token. The Open Money Stack initiative is also expected to enhance the token's utility by enabling real-world payments through platforms like Stripe and Revolut according to reports.

The coming sessions will be crucial for determining the price direction of POL. If the token breaks through the $0.28 resistance level, it could open the door for further gains. Conversely, a breakdown might lead to a retest of previous support levels according to technical analysis. Investors are closely watching for signs of sustained buying pressure or renewed bearish activity.

Overall, the combination of deflationary tokenomics, strategic acquisitions, and the Open Money Stack initiative positions Polygon as a strong contender in the evolving crypto landscape. The key will be monitoring market sentiment and on-chain data to make informed investment decisions.