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Polygon

MATIC

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Market

Market stats

Market cap

$9.8B

Volume (24h)

$505.7M

Circulating supply

9.9B MATIC

Typical hold time

76 days

Popularity

#16

All time high

$2.92

Price change (1h)

-0.92%

Price change (24h)

-7.45%

Price change (7d)

-18.99%

About Polygon

Polygon was formerly called Matic Network. Polygon (MATIC) is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon smart contract, interact with them within Polygon, and then later withdraw them back to the Ethereum main chain. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.

Polygon, previously known as Matic Network, is a platform designed to facilitate the development and scaling of Ethereum-based applications. Polygon is a combination of a sidechain and a Layer-2 solution designed to help scale the Ethereum network and improve its functionality. The protocol aims for faster, cheaper Ethereum transactions using sidechains, blockchains that run like speedy HOV lanes alongside the Ethereum main chain. Polygon's core component is the Polygon Software Development Kit (SDK), a flexible framework that supports the creation of multiple types of applications. The platform transforms Ethereum into a multi-chain system, akin to other systems such as Polkadot, Cosmos, and Avalanche, but with the benefits of Ethereum's ecosystem. The native token of Polygon is MATIC, an ERC-20 token used to pay transaction fees and participate in proof-of-stake consensus.

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Social

Some highlights about Polygon on social media

9,160 unique individuals are talking about Polygon and it is ranked #25 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Polygon has an average sentiment score of 3.1 out of 5. Finally, Polygon is becoming less newsworthy, with 0 news articles published about Polygon. This is a 100% decrease in news volume compared to yesterday.

On Twitter, people are mostly neutral about Polygon. There were 7.83% of tweets with bullish sentiment compared to 5.6% of tweets with a bearish sentiment about Polygon. 86.57% of tweets were neutral about Polygon. These sentiments are based on 7142 tweets.

On Reddit, Polygon was mentioned in 58 Reddit posts and there were 130 comments about Polygon. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

9,160 people

Volume rank

#25

Average Sentiment

3.1 out of 5

Twitter

Reddit

Posts

58

Comments

130

Post Score

19,531

Comment Score

20,897

Coinbase Bytes

Whale street: How big-money institutional investors are preparing for the next bull run

Whale street: How big-money institutional investors are preparing for the next bull run

COINBASE BYTES • NOV 08, 2023

Is Wall Street ready for the next bull run? Major institutional investors have been making moves.
    As crypto markets have risen from their slumber this year, institutional investors from Wall Street, Silicon Valley, and beyond are paying attention. Major firms are increasing their investments in crypto, crypto-oriented venture funds are busy raising and deploying capital, and many of the world’s biggest banks are exploring blockchain-native financial products like tokenized treasuries and loans. 
    Institutions are showing rising enthusiasm for altcoins, with investment in products focused on Polygon ($0.8 million) growing last week.

Coinbase Bytes

The week’s biggest crypto news, sent right to your inbox

Polygon is on the decline this week.

The price of Polygon has decreased by 0.92% in the last hour and decreased by 7.45% in the past 24 hours. Polygon’s price has also fallen by 18.99% in the past week. The current price is $0.99 per MATIC with a 24-hour trading volume of $505.71M. Currently, Polygon is valued at 66.10% below its all time high of $2.92. This all-time high was the highest price paid for Polygon since its launch.

The current circulating supply of Polygon is 9,906,666,473.191 MATIC which means that Polygon has as total market cap of 9,906,666,473.191.

FAQ

What is the current price of Polygon?

We update our Polygon to USD currency in real-time. Get the live price of Polygon on Coinbase.

What is the market cap of Polygon?

The current market cap of Polygon is $9.81B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Polygon?

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

What is the 24 hour trading volume of Polygon?

Over the last 24 hours, the trading volume of Polygon is $505.71M.

What other assets are similar to Polygon?

Assets that have a similar market cap to Polygon include Cardano, Avalanche, Dogecoin, and many others. To see a full list, see our comparable market cap assets.

How many Polygon are there?

The current circulating supply of Polygon is 9.9 billion.

What is the typical holding time of Polygon?

The median time that Coinbase customers hold Polygon before selling it or sending it to another account or address is 76 days.

What is the relative popularity of Polygon?

Polygon ranks 12 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Polygon?

Currently, 97% of Coinbase users are buying Polygon. In other words, 97% of Coinbase customers have increased their net position in Polygon over the past 24 hours through trading.

Can I buy Polygon on Coinbase?

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

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