Polygon burns 100 million POL tokens, but why is its price still struggling?

Polygon has permanently burned 100 million POL tokens, equivalent to roughly 1% of its original supply, but the cryptocurrency has continued to struggle despite the reduction in circulating tokens. Polygon burned 100 million POL tokens through network fees, with another 22 million tokens lined up for removal. POL continued trading near $0.10 despite the supply reduction, after declining from approximately $0.12 in late September. Polygon's token issuance mechanism continues to add new POL, partly offsetting the supply removed through transaction fee burns. Polygon's Open Money Stack recorded more than $1 billion in annualized processing volume for two consecutive weeks, according to co-founder Sandeep Nailwal. POL was trading near $0.103 on October 12, after declining from approximately $0.12 in late September, according to market data from CoinGecko.