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Polygon priceMATIC

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MATIC
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1 MATIC = 1.1 USD
Last updated 2024-03-04 07:27:34(UTC-0)

Polygon price live data summary

The live price of Polygon is $1.1 per (MATIC / USD) today with a current market cap of $10.85B USD. The 24-hour trading volume is $746.99M USD. MATIC to USD price is updated in real time. Polygon is +2.34% in the last 24 hours. It has a circulating supply of 9,899,143,000 .

What is the highest price of MATIC?

MATIC has an all-time high (ATH) of $2.92, recorded on 2021-12-27.

What is the lowest price of MATIC?

MATIC has an all-time low (ATL) of $0.003012, recorded on 2019-05-09.

When is a good time to buy MATIC? Should I buy or sell now?

When deciding whether to buy or sell MATIC, you must first consider your own trading strategy. The trading activity of long-term traders and short-term traders will also be different. The Bitget MATIC technical analysis can provide you with a reference for trading.
According to the MATIC 4h technical analysis, the trading signal is Strong buy.
According to the MATIC 1d technical analysis, the trading signal is Strong buy.
According to the MATIC 1w technical analysis, the trading signal is Strong buy.

Polygon price performance in USD

24h7d30d90d1yAll-time
+2.34%+9.63%+38.29%+38.38%-3.51%+24150.31%

Polygon price history in USD

TimeLowHigh
24h$1.05$1.12
7d$0.9668$1.12
30d$0.7644$1.12
90d$0.6933$1.12
1y$0.4946$1.25
All-time$0.003012(2019-05-09, 4 years ago )$2.92(2021-12-27, 2 years ago )

Polygon market information

Market capCombinedShapeIcon
$10,852,699,107.32
+2.34%
Fully diluted market capCombinedShapeIcon
$10,963,271,417.05
+2.34%
Volume (24h)CombinedShapeIcon
$746,990,863.01
-1.08%
Market rankingsCombinedShapeIcon
Circulation rateCombinedShapeIcon
+98.00%
24h volume / market capCombinedShapeIcon
0.0688
Circulating supplyCombinedShapeIcon
9,899,143,000 MATIC
Total supply / Max supplyCombinedShapeIcon
10B MATIC
-- MATIC
ICO price
$0.002630 ICO details
share

Polygon ratings

Average ratings from the community
4.4
100 ratings
This content is for informational purposes only.

Polygon Social Data

In the last 24 hours, the social media sentiment score for Polygon was 0, and the social media sentiment towards Polygon price trend was Bearish. The overall Polygon social media score was 18,934, which ranks 78 among all cryptocurrencies.

According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,099,743 times, with Polygon being mentioned with a frequency ratio of 0.54%, ranking 49 among all cryptocurrencies.

In the last 24 hours, there were a total of 0 unique users discussing Polygon, with a total of Polygon mentions of 5,918. However, compared to the previous 24-hour period, the number of unique users decrease by 0%, and the total number of mentions has decrease by 6%.

On Twitter, there were a total of 22 tweets mentioning Polygon in the last 24 hours. Among them, 0% are bullish on Polygon, 0% are bearish on Polygon, and 100% are neutral on Polygon.

On Reddit, there were 0 posts mentioning Polygon in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% . Additionally, there were 0 comments mentioning Polygon. Compared to the previous 24-hour period, the number of mentions decrease by 0%.

All social overview

Average sentiment(24h)
0
Social score(24h)
18.93K(#78)
Social contributors(24h)
0
0%
Social mentions(24h)
5.92K(#49)
-6%
Social dominance(24h)
0.54%
Twitter
Tweets(24h)
22
-68%
Twitter sentiment(24h)
Bullish
0%
Neutral
100%
Bearish
0%
Reddit
Reddit score(24h)
0
Reddit posts(24h)
0
0%
Reddit comments(24h)
0
0%

About Polygon(MATIC)

What Is Polygon?

Formerly known as Matic Network, Polygon is a unique protocol and framework designed for constructing and interlinking Ethereum-compatible blockchain networks. It has been skillfully engineered to counter some of the most notable drawbacks of the Ethereum blockchain, such as scalability issues and high transaction fees. With its robust, efficient, and flexible solutions, Polygon is revolutionizing the blockchain realm.

In a world where Ethereum maintains a significant influence over the blockchain industry, Polygon has successfully marked its presence, garnering the attention of developers and users alike. Established in 2017 by three passionate blockchain developers - Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, Polygon was born out of the shared aspiration to make blockchain technology more accessible and beneficial to all.

The primary goal of Polygon is to metamorphose Ethereum into a multi-chain ecosystem, often referred to as the 'Internet of Blockchains'. The design of Polygon promotes an environment where a multitude of blockchains can operate concurrently, while maintaining the capacity to interact and exchange information amongst themselves. These interconnected networks are known as 'Polygon chains'.

Flexibility is a key distinguishing factor of Polygon. It grants developers the liberty to launch any application, with the freedom to decide on scalability, security, sovereignty, and more. This means Polygon can accommodate multiple applications, each with its unique demands and specifications, thereby expanding the applicability and usability of blockchain technology.

Resources

Whitepaper: https://github.com/maticnetwork/whitepaper/

Official website: https://polygon.technology/

How Does Polygon Work?

At a macro level, the operation of Polygon is anchored on two primary components: The Polygon SDK and the Polygon Networks.

- The Polygon SDK: A flexible, modular, and open-source framework, the Polygon SDK equips developers with the capability to construct efficient and scalable Ethereum-compatible blockchains that can either stand alone or be secured chains. It's designed to cater to diverse types of applications and use-cases, ensuring it remains adaptable to varying developer needs.

- The Polygon Networks: These comprise different chain types, including standalone chains and secured chains. While standalone chains operate independently and are accountable for their own security, secured chains utilize the security of the Ethereum network or a pool of professional validators.

Polygon adopts a 'commit chain' approach, a key aspect of its operation. This strategy includes consolidating multiple transactions into one batch, or 'commit', which is then posted to the Ethereum mainnet. This significantly lightens the load on the Ethereum network, enabling swiffer transaction times and reduced fees.

Additionally, Polygon utilizes a 'Proof of Stake' consensus algorithm, a less resource-consuming alternative to the 'Proof of Work' algorithm used by Bitcoin networks. Validators in the Polygon network are selected based on the volume of tokens they own and are ready to 'stake' as collateral. These validators undertake the task of validating transactions and adding new blocks to the chain.

Further interoperability is achieved through bridges that facilitate secure communication between different Polygon chains and between Polygon and Ethereum. This yields an interconnected, flexible ecosystem capable of accommodating a variety of applications and use-cases.

What Is the MATIC Token?

The MATIC token, now known as the Polygon token, is an ERC-20 cryptocurrency that operates on the Ethereum network. Launched in 2017 by the Polygon team (then known as Matic Network), MATIC is not just a digital currency but also a critical element in the Polygon ecosystem. These roles include participating in the network's governance through voting, paying transaction fees, and staking in Polygon's proof-of-stake consensus mechanism to maintain network security. In essence, the MATIC token is the backbone that enables the efficient functioning and decentralization of the Polygon network. As Polygon continues to grow, so does the importance and utility of the MATIC token in the wider crypto ecosystem.

What Determines Polygon's Price?

The Polygon MATIC current price is a subject of keen interest in MATIC crypto news and is influenced by a plethora of factors. One of the key drivers is Polygon's utility as a Layer 2 scaling solution for Ethereum. As demand for quicker, more cost-effective transactions on Ethereum escalates, so does the utility—and by extension, the value—of MATIC.

This token plays a pivotal role in handling transaction fees and staking within the Polygon network. Recent data indicates a surge in decentralized application (DApp) activity on Polygon, a development that has positively influenced the MATIC USD price today. Governance matters like upgrades to Polygon 2.0 also significantly impact investor sentiment and thus, MATIC's price fluctuations.

Legal and regulatory landscapes are other essential factors in determining the MATIC price today. For example, a favorable court decision for XRP had a ripple effect on MATIC, causing a notable uptick in its price. Market sentiment, as often represented in real-time MATIC price charts and the MATIC coin market cap, is susceptible to such external events.

Moreover, MATIC's capped supply of 10 billion tokens adds an element of scarcity, which is generally considered a bullish indicator in MATIC coin latest updates and Polygon MATIC price prediction analyses.

Investor behaviors, such as trading volume and liquidity, contribute another layer to MATIC's price mechanism. Elevated trading volumes are often symptomatic of strong investor interest, which can lead to price volatility. If you're contemplating whether to buy MATIC Polygon or explore Polygon MATIC investment options, vigilance on these variables can offer invaluable insights.

So, is MATIC a good buy? Like any financial endeavor, it carries inherent risks and demands a cautious approach. However, its rising utility, constrained supply, and growing adoption suggest that it's a token worth monitoring closely.

In summary, the Polygon MATIC current price isn't merely a figure; it's an outcome of intricate interplays among utility, demand, the legal environment, and investor sentiment. Whether you're an experienced trader or a prospective investor, a deep understanding of these dynamics can guide you in making well-informed decisions in the ever-changing crypto marketplace.

Conclusion

Polygon is a shining beacon in the quest to resolve Ethereum's scalability issues. By facilitating an ecosystem that supports interconnected blockchain networks, it has provided a solution that could potentially result in faster, safer, and more economical transactions, thereby paving the way for broader adoption of blockchain technology.

As we continue to navigate the era of digital decentralization, gaining a thorough understanding of tools like Polygon is increasingly crucial. By addressing the limitations of the Ethereum network, Polygon not only enhances current systems but also lays a foundation for future advancements in the blockchain sector.

Related Articles about Polygon

Introduction to Polygon (MATIC)

How to buy Polygon (MATIC)

Buying Polygon on Bitget is fast and simple.
You just have to create an account, complete identity verification, deposit funds, and your trading journey is all set!
For more information, refer to How to buy Polygon (MATIC) .

Trade MATIC perpetual futures

After having successfully signed up on Bitget and purchased USDT or MATIC tokens, you can start trading derivatives, including MATIC futures and margin trading to increase your income.

The current price of MATIC is $1.1, with a 24h price change of +2.34%. Traders can profit by either going long or short onMATIC futures.

Join MATIC copy trading by following elite traders.

After signing up on Bitget and successfully buying USDT or MATIC tokens, you can also start copy trading by following elite traders.

Polygon news

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People are also inquiring about the price of Polygon.

What is the current price of Polygon?

We update our Polygon to USD price in real time. Get the live Price of Polygon on Bitget.

What is the 24 hour trading volume of Polygon?

Over the last 24 hours, the trading volume of Polygon is $746.99M.

What is the all-time high of Polygon?

The all-time high of Polygon is $2.92. This all-time high is highest price for Polygon since it was launched.

Can I buy Polygon on Bitget?

Yes, Polygon is currently available on Bitget’s centralized exchange. For more detailed instructions, check out our helpful How to buy Polygon guide.

Can I get a steady income from investing in Polygon?

Of course, Bitget provides a strategic trading platform, with intelligent trading bots to automate your trades and earn profits.

Where can I buy Polygon with the lowest fee?

We're pleased to announce that strategic trading platform is now available on the Bitget exchange. Bitget offers industry-leading trading fees and depth to ensure profitable investments for traders.

How does Polygon (MATIC) differentiate itself from other Layer 2 solutions?

Polygon stands out because of its flexibility. Instead of offering a single Layer 2 scaling solution, it provides a framework for building multiple kinds of solutions, such as Plasma, zk-Rollups, and sidechains. This multi-solution approach allows developers to choose the best scaling option suited for their specific needs.

How many transactions per second (TPS) can Polygon handle compared to Ethereum?

Polygon offers a remarkable transaction processing speed, reaching peak loads of up to 65,000 TPS. In contrast, Ethereum's current capacity stands around 13 TPS. This demonstrates a substantial enhancement in throughput that Polygon provides compared to the Ethereum mainnet.

Why is the value of Polygon (MATIC) increasing?

The value of MATIC can increase for a variety of reasons: - Increased adoption of Polygon as a Layer 2 solution for various projects and DApps, resulting in higher utility and demand for MATIC tokens. -General positive sentiment in the overall cryptocurrency market. - Partnerships, developments, or announcements related to the Polygon network. - Speculative interest and trading volumes.

Why do we sometimes see a disparity in MATIC's price across different exchanges?

Minor price discrepancies, known as "arbitrage opportunities," can arise due to differences in trading volume, liquidity, regional demand, or latency in updating prices among exchanges. Traders sometimes exploit these discrepancies by buying on one exchange and selling on another. However, such opportunities are often short-lived as market forces work to equalize prices across platforms.

How do external market events affect the price of MATIC?

Like other cryptocurrencies, MATIC's price can be influenced by broader market events. Positive news about cryptocurrency adoption, favorable regulatory developments, or technological breakthroughs can push the price up. Conversely, negative news, regulatory crackdowns, or macroeconomic downturns can exert downward pressure on the price.

How do transaction fees on Polygon compare to those on the Ethereum mainnet?

Compared to the Ethereum mainnet, Polygon offers substantially lower transaction fees. This is because Polygon, as a Layer 2 solution and with its sidechains, processes transactions more efficiently. This cost-effectiveness attracts many projects and users who wish to bypass the high gas fees often seen on Ethereum, especially during network congestion.
Cryptocurrency investments, including buying Polygon online via Bitget, are subject to market risk. Bitget provides easy and convenient ways for you to buy Polygon, and we try our best to fully inform our users about each cryptocurrency we offer on the exchange. However, we are not responsible for the results that may arise from your Polygon purchase. This page and any information included are not an endorsement of any particular cryptocurrency.

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