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Polygon

MATIC

Rank #13
$ 1.03
+ 15.28%
24H Low$0.8641
24H High$1.05
24H Volume
2.1B
All-Time High(ATH)
$2.92
All-Time Low(ATL)
$0.003144
Market Cap
9.6B
Fully Diluted Valuation
10.35B
Market Cap/FDV
0.9283
Circulating Supply
9.28B MATIC
Total Supply
10B MATIC
Max Supply
10B MATIC
Market Sentiment
--
* Data from 3rd parties

Polygon (MATIC) Price Trends

Time period
Change amount
% Change
1H
$ -0.02134
-2.07%
24H
$ 0.1577
15.28%
7D
$ 0.3519
34.09%
14D
$ 0.1689
16.37%
30D
$ 0.3590
34.78%
1Y
$ 0.2800
27.13%

Live Polygon (MATIC) Price Update

Polygon price today is $1.03 with a 24-hour trading volume of 2.1B, and as such Polygon has a market cap of 9.6B, giving it a market dominance of 0.47%. The Polygon price moved 15.28% in the last 24 hours.

Polygon reached its highest price on 2021-12-27 when it was trading at its all-time high of $2.92, while its lowest price was recorded on 2019-05-10 when it was trading at its all-time low of $0.003144. The current lowest price since the last cycle high was $0.003144, and the highest price since the last cycle low was $2.92. The social sentiment of Polygon is currently Positive.

The current circulating supply of Polygon is 9.28B MATIC. In terms of market cap, Polygon is currently ranked 13.

About Polygon (MATIC)

Polygon is a protocol and framework for building and connecting Ethereum compatible blockchain networks. Due to the vigorous development of the Ethereum chain ecosystem, there are more and more DeFi users. The low TPS on Ethereum poses the increasingly serious problems of congestion and rising trading gas fees. The goal of Polygon is to build what it calls an Ethereum Layer 2 solution aggregator, to make up for the problems of the Ethereum ecosystem and accelerate the development of the Ethereum ecosystem.

Polygon is an easy-to-use Ethereum extension and infrastructure development platform. Its core component is the Polygon SDK, which helps developers create new fully interoperable DApps.

On the Polygon chain, the improvement of performance is mainly achieved through the form of "side chain", because the side chain can facilitate developers, enterprises and individuals to build projects more flexibly and quickly, thus enjoying higher speed and lower trading costs. Compared with the main chain, it will bring unprecedented trading experience and cost reduction.

Presently, many popular decentralized financial (DeFi) DApps have been deployed on Polygon, such as Aave, 1INCH, Curve and Sushi.


How does Polygon (MATIC) Work?

There are mainly two scalability solutions used by Polygon: one is the path that relies on the security of Ethereum network, i.e. "Secure Chain", and the other is Stand-alone Chain.

The Stand-alone Chain (Pos chain), also known as the "submission chain", has its own consensus mechanism and validation pool, and is fully responsible for its own security. For this reason, it has the advantages of independence and flexibility. For this reason, it has advantages such as independence and flexibility. The Pos chain is essentially a parallel chain, so it has certain advantages in improving throughput and reducing trading costs, providing users with a better transaction experience. The Pos chain is compatible with the Ethereum virtual machine, which facilitates developers to easily migrate their smart contracts to the Pos chain based on Ethereum.

However, the security chain will not establish its own validation pool, which is provided by Ethereum or professional validators. It also means that the security level will be higher than that of the main chain, allowing transactions to be transferred from the main chain to the sub-chain, so as to achieve faster and cheaper transactions.

In this way, in addition to the current implementation of Matic Plasma, Polygon will also support other major scalability solutions, such as zkRollups, Optimistic Rollups and Validium.


What is Polygon (MATIC)?

MATIC is the native token of Polygon. It is used to manage and protect the network through staking. The MATIC token can be used to pay the service and trading costs on Polygon and its side chain. When the more users use the application on the MATIC network, the more the transaction volume, and therefore the trading costs, so as to adjust the market supply and demand. Through staking, MATIC can also become a network validator and obtain a certain amount of token rewards. In addition, it also gives the token holder the right to shape the future of the project. The token holder can vote on the proposal and put forward his own proposal.

FAQs

1. What determines the price movement of Polygon?

There are two schools of thought in determining the price of Polygon.
By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Polygon, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Polygon from a long term perspective.
By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Polygon on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Polygon as well.
Investors tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Polygon and the cryptocurrency market as a whole.

Polygon (MATIC) News

Ronin Effect: Why 'Pixels' Ditched Polygon Ahead of Ethereum Token Launch

Ronin Effect: Why 'Pixels' Ditched Polygon Ahead of Ethereum Token Launch

Why did farming game Pixels migrate from Polygon to Ronin before the big PIXEL token launch? Founder Luke Barwikowski explains.
Source: decrypt
Posted:
Polygon Releases 'Type 1 Prover,' Claiming Milestone Set by Ethereum's Vitalik Buterin

Polygon Releases 'Type 1 Prover,' Claiming Milestone Set by Ethereum's Vitalik Buterin

The announcement means that existing EVM chains or optimistic rollups can connect to the prover without modification, then plug into Polygon’s newly released Aggregation layer, providing access to "all of the liquidity and value on Ethereum itself,” Polygon said.
Source: coindesk
Posted:
Social App Friendzone to Start Operations on Polygon Network This Month

Social App Friendzone to Start Operations on Polygon Network This Month

Friendzone was built by early team members from Band Protocol, Synthetix and Koinly and targets the social application space.
Source: coindesk
Posted:
Polygon Labs Cuts 60 Staff in Ethereum Scaler's Latest Shakeup

Polygon Labs Cuts 60 Staff in Ethereum Scaler's Latest Shakeup

The company behind Ethereum scaling network Polygon has laid off 19% of its team, less than a year after an even larger layoff.
Source: decrypt
Posted:
Polygon Labs Cuts 19% of Staff, 60 Roles, for 'Enhanced Performance'

Polygon Labs Cuts 19% of Staff, 60 Roles, for 'Enhanced Performance'

The Ethereum-focused developer firm attributes the layoffs to working more effectively, rather than financial reasons.
Source: coindesk
Posted:
Polygon Plans 'AggLayer,' in Bid to Synthesize Modular, Monolithic Blockchains

Polygon Plans 'AggLayer,' in Bid to Synthesize Modular, Monolithic Blockchains

The new "AggLayer," set for launch next month, relies on zero-knowledge proofs, a type of cryptography that Polygon Labs is betting on as a core underpinning of future blockchain architecture.
Source: coindesk
Posted:

Polygon (MATIC) Announcements

Gate.io Supports Upcoming Polygon (MATIC) Upgrade

According to the Polygon(MATIC) team, the Agra Hardforkwill be activated on Bor Mainnet network block height 50523000 estimated on November 29,2023. Gate.io supports this upgrade and will suspend tokens’ deposits and withdrawals on this network during the process. Token trading will not be aff...
readings: 8799Posted:

Gate.io Supports Upcoming Polygon (MATIC) Upgrade

According to the Polygon(MATIC) team, the Aalborg Hardfork will be activated on Heimdall at  block height 15,950,759 estimated on October 13,2023. Gate.io supports this upgrade and will suspend tokens' deposits and withdrawals on this network during the process. Token trading will not be aff...
readings: 11545Posted:

Gate.io Supports Upcoming Polygon (MATIC) Upgrade

According to the Polygon(MATIC) team, a Polygon Hardfork will be activated on block height 44,934,656 estimated on July 11, 04:00 UTC. Gate.io supports this upgrade and will suspend Polygon(MATIC) deposits and withdrawals during the process. Polygon(MATIC) trading will not be affected. D...
readings: 10774Posted:

Gate.io Supports Upcoming Polygon (MATIC) Upgrade

Polygon Hardfork will be activated on block heigh 38,189,056, estimated on Jan 17th, 18:00 UTC. Gate.io supports this upgrade and will suspend Polygon(MATIC) deposits and withdrawals during the process. Polygon(MATIC) trading will not be affected
readings: 17998Posted:

Polygon (MATIC) Mainnet Deposits and Withdrawals Suspended for Maintenance

According to the Polygon (MATIC) team, due to issues with the Tendermint implementation used by the Polygon PoS chain, there was downtime starting at 5:50 PM UTC. Gate.io has suspended Polygon (MATIC) mainnet deposits and withdrawals. Deposits and withdrawals will be resumed as soon as possible....
readings: 62258Posted:

Gate.io Supports Upcoming Polygon(MATIC) Upgrade

According to the Polygon(MATIC) team, London Hardfork will be activated on block height 2385000, estimated on Jan 18th, 08:00 UTC. Gate.io supports this upgrade and will suspend Polygon(MATIC) deposits and withdrawals during the process. Polygon(MATIC) trading will not be affected. Depo...
readings: 75253Posted:
Date
Market Cap
Volume
Open
Close
2024-02-20
$606.83M$9.23B$0.9954N/A
2024-02-19
$496.31M$9.24B$0.9962$0.9954
2024-02-18
$476.74M$8.62B$0.9286$0.9962
2024-02-17
$696.57M$8.85B$0.9531$0.9286
2024-02-16
$444.81M$8.25B$0.8895$0.9531
2024-02-15
$446.5M$8.26B$0.8901$0.8895
2024-02-14
$361.69M$7.9B$0.8527$0.8901