User balances on centralized exchanges holding Matic are temporarily frozen until the ticker change process is fully completed. The Matic network or now POL has nothing new. They are experiencing a decline in investor interest because there is not much of an updated ecosystem that they present, even some tokens on the POL network have not moved much in price.
being the oldest L2 is rough when other exchange already implementing such groundbreaking technology that put them far ahead compared to polygon.
the newest chain got the benefit of just copying existing feature since pretty much the feature is being published and is open source so it only requires little tinkering while also have the leisure time to grow additional features.
but I think the L2 market as a whole is already having decline of investors, so the fault isn't completely on the polygon side.
people are more interested in new blockchain that actually matters, these L2 no matter how good they are, always become the side dish of the main blockchain which is L1 and people finally realizes that L2 are created every week.