Other major cryptocurrencies have also seen significant price drops. Ethereum ($ETH), the second-largest cryptocurrency by market value, is down 2.23%. Solana ($SOL) has fallen by 2.82%, and XRP by 2.19%.
The charges stemmed from Uniswap offering leveraged tokens, which are complex financial products, to retail investors. The CFTC said this was illegal because the platform didn’t have proper authorisation.
POL will be central to Polygon’s goal of transforming into a zero-knowledge (ZK) chain, a technology that enhances privacy and efficiency.