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Polygon

MATIC

Polygon Market Stats

Polygon Price

$22,014.48

Polygon Price Change (24H)

$22,014.48

Polygon Price (24H Low)

$22,014.48

Polygon Price (24 High)

$22,014.48

Polygon Price (All Time High)

$22,014.48

Polygon Market Cap

$22,014.48

Polygon Volume (24H)

$22,014.48

Polygon Circulating Supply

$22,014.48

Polygon Price Live Data

The live [Bitcoin] price today is [$20,014.48] with a 24-hour trading volume of [$44.6b]. The [BTC] price is updated in real-time. [Bitcoin] is [up/down] [45.77%] in the last 24 hours. The current [Bitcoin] live market cap is [$189,3B] with a circulating supply of [121.3M] [BTC] coins and a max supply of [21,000,000] [BTC] coins.

Looking to buy [Bitcoin] at the current rate? The best cryptocurrecny exchanges for trading for [Bitcoin] stocks and coins are Bitbuy, CoinSmart, NetCoins, Netwon, and Crypto.com; you can find other [Bitcoin]-[BTC] exchanges on our best crypto exchange, best crypto exchange in Canada and best crypto exchange in the USA pages.

What is Polygon (MATIC)

Polygon (MATIC) is a blockchain that aims to resolve the high trading fee and slow trading speed issues of the Ethereum network. Although it could support other blockchains, Polygon is a scaling solution prepared for the Ethereum network.

Polygon functions like a side blockchain that runs alongside the Ethereum network, providing low-cost and fast-speed solutions for users. As such, it’s not a standalone blockchain; it can’t replace the Ethereum blockchain but needs to run alongside it.

Polygon seeks to improve the Ethereum network while resolving some of its issues. It desires to increase the efficiency of the network and attract investors who wish to introduce new products to the market. Many businesses use Polygon to create Ethereum-based decentralized payment solutions without the drawbacks of the Ethereum blockchain.

Polygon (MATIC), the native token of the Polygon blockchain, is used for staking and trading on the network. It is an ERC-20 token that the ecosystem members can use on other Ethereum-based blockchains.

Who Created Polygon (MATIC)?

Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun created the Polygon network in October 2017. However, this Mumbai-based blockchain wasn’t initially named Polygon; it was referred to as the MATIC Network. The rebranding to Polygon occurred in February 2021, while its native token retained its original name, MATIC.

The three Polygon (MATIC) creators and Mihailo Bjelic worked at Ethereum as blockchain engineers and noticed the issue of the blockchain. Hence, they worked to create a solution that could tackle the scaling issues of this blockchain.

Polygon Coin-Comparewise

How Does Polygon (MATIC) Work?

Polygon is a network that uses the proof-of-stake protocol. This requires individuals who have staked their cryptocurrency to validate transactions on the network.

Hence, some individuals need to stake their Polygon (MATIC) to allow them to validate transactions on the platform. They’ll receive Polygon token rewards whenever they can successfully validate a transaction on the blockchain. However, investors who stake their cryptocurrencies can’t trade them out or sell them.

There are two types of stakers (individuals who stake their cryptocurrency) on the Polygon blockchain:

  • Validators
  • Delegators

Validators

These are the primary stakers of the Polygon blockchain, individuals who have staked their MATIC. They validate and verify all new transactions before they’re added to the blockchain. They get a specific percentage of the entire transaction for their work.

To become a validator, you’ll need to stake your Polygon (MATIC) and own a computer. The computer functions as a full-time node; hence, it must be on most of the time. A strong internet connection is required as a validator. With a poor internet connection, some staked MATIC could be lost.

Delegators

Delegators are also individuals that have staked their MATIC. However, they do so through a trustworthy validator instead of staking it directly with the blockchain. This allows them to evade some of the risks that validators face since they don’t make the decisions anymore.

However, choosing a reckless validator could mean losing all your staked MATIC. That’s because a reckless validator can make a wrong call while validating transactions, causing him to lose Polygon (MATIC).

Is Polygon (MATIC) a Good Investment?

Polygon is a layer-2 scaling solution capable of processing 65,000 transactions per second. It’s a blockchain that runs parallel to the Ethereum network, fixing most of its major issues.

However, Polygon isn’t the only Ethereum competitor out there, as there are options like Avalanche. Nevertheless, the advantage of this blockchain lies in the fact that it’s an Ethereum-based alternative that many investors have considered. It’s also a popular blockchain that has received investments from Prada, Stripe, Adidas, Adobe, and other popular companies. All these make Polygon a suitable prospect for investment. More than 7000 DeFi apps are running on the network, solidifying its future relevance.

FAQs about Polygon (MATIC)

How many Polygon (MATIC) coins are there?

Ten billion is the maximum supply of MATIC tokens that can be present on the blockchain. However, only 80% of that (8 billion tokens) is currently in circulation.

How is Polygon (MATIC) Secured?

Polygon is secured using MATIC, its native cryptocurrency. Nevertheless, the safety features of the Ethereum blockchain, which it runs alongside, also factor in its security.

What can you use Polygon (MATIC) for?

The Polygon token (MATIC) is staked to earn the right to validate transactions on the network. As the native token of this network, it’s used to trade for other cryptocurrencies on the blockchain. The staking of MATIC allows validators to participate in the governance of the blockchain.

Polygon News

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Best Polygon Apps

Get $20 CAD in BTC with code: COMPAREWISE
Min Investment
$100
Coins Available
16+
Get a $50 Bitbuy bonus when you sign up
Min Investment
$250
Coins Available
25+
Get a $25 Netcoins bonus when you sign up
Min Investment
$10
Coins Available
22+
Get $25 CAD Newton bonus with code: 9APOU9
Min Investment
$100
Coins Available
70+
Get a $30 Coinberry bonus when you sign up
Min Investment
$50
Coins Available
29+
Get a $30 Shakepay bonus when you sign up
Min Investment
$5
Coins Available
2+
Earn up to $16 worth of crypto in Coinbase
Min Investment
$25
Coins Available
100+
Trade Bitcoin free and get up to $100 in welcome rewards
Min Investment
$50
Coins Available
600+
Up to 500 USDT welcome bonuses for new users
Min Investment
$5
Coins Available
600+
Get $100 when you top up $1k + earn up to 20% APR
Min Investment
$1,000
Coins Available
300+
Trade crypto at competitive rates in Changelly
Low Fees
0.5% - 5%
Coins Available
200+
Trade crypto, stock, and metals in one place
Min Investment
$1
Coins Available
130+

Best Polygon Wallets

Earn up to 8% yield on your crypto with Secure Wallet
Min Investment
$85 USD
Coins Available
70+
Limitless wallet addresses on one device
Storage Type
Cold
Coins Available
40+
Easy-to-use, ready within 10 minutes
Storage Type
Cold
Coins Available
1000+
Manage over 5,500 digital assets + install over 100 apps
Storage Type
Cold
Coins Available
100+
Full colour touchscreen + encrypted storage on cloud
Storage Type
Cold
Coins Available
1000+
Connect through Bluetooth + use Ledger Live app
Storage Type
Cold
Coins Available
100+
Earn up to $16 worth of crypto in Coinbase
Min Investment
$25
Coins Available
100+
Stake and earn almost up to 40% yield
Min Investment
$50
Coins Available
50+
Stake and earn 5%-20% APY + get cash back
Storage Type
Cold
Coins Available
300+
Manage multiple wallets in one platform
Storage Type
Software
Coins Available
IOTA
Earn up to 11.01% APR with staking crypto
Min Investment
$50
Coins Available
1 million+
Buy Crypto directly with USD, EUR, and GBP
Min Investment
1 XLM
Coins Available
255+

Polygon Analysis

Polygon (MATIC) Analysis Summary

Polygon is a scaling solution for the Ethereum network, allowing investors to enjoy fast transaction speeds and lower gas fees. This Ethereum sidechain supports many DeFi apps that are already available on Ethereum. They also launched Polygon Studios, a subsidiary that supports blockchain games and Nonfungible Tokens (NFT).

Polygon (MATIC) is a cryptocurrency that reached its highest value at $2.9279 and its lowest value at 0.00301. It sank to its lowest value on 09 May 2009 and peaked on 27 December 2021. Although Polygon has never sunk to its lowest point, many investors feel apprehensive about its future.

Wallet Investor is one of the optimistic crypto experts about this cryptocurrency. They believe Polygon is a suitable long-term investment and expect its value to rise in the coming years. This digital coin is expected to reach $2.304 in 2027, a remarkable increase from the current price.

In fact, many crypto experts have high hopes for this blockchain. They believe that, although significant milestones have yet to be achieved, MATIC holds much promise.

According to their calculations, Polygon should begin 2024 at $0.92 before hitting $1.05 during June. It’s also expected to be at a minimum of $1.05 and a maximum of $2.3 in 2025.

Analysis Q&As

What is Polygon price today?

Polygon price today is [price] within 24-hour trading volume of [Volume].

What was the highest price for Polygon?

Polygon hit an all time high of [All High].

What was the lowest price for Polygon?

Polygon had an all time low of [All Low].

What was the 24 hours trading volume of Polygon?

The 24 hour trading volume of Polygon is [Volume].

Where can Polygon be traded?

You can trade Polygon on Crypto.com, Kraken, Binance, and FTX. The popular trading pairs for Polygon in the market includes MATIC/USD, Polygon/CAD, Polygon/EUR, Polygon/GBP, and Polygon/AUD. Polygon is a token that is related to the ... categories.

What exchange is Polygon on?

Online traders can buy or sell Polygon (MATIC) on the top crypto exchange, such as Crypto.com, Kraken, Binance, and FTX.

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Polygon Technicals

See Comparewise coin rating definitions for more information.

Polygon Price Statistics
Polygon Price Today

08/16/2022

Polygon Price

$22,014.48

Polygon Price Change (24H)

$22,014.48

Polygon Price (24H Low)

$22,014.48

Polygon Price (24H High)

$22,014.48

Polygon Price (All Time High)

$22,014.48

Polygon Market Cap

$22,014.48

Polygon Volume (24H)

$22,014.48

Polygon Circulating Supply

$121.3M

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