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Polygon price

(MATIC / USD)

Market stats

$4.8B

$710.3M

-41.33%

8.0B MATIC

80% of total supply

87 days

70% buy
30% sell

#14

$2.92

+0.03%

+2.05%

+63.81%

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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.

What is Polygon (MATIC)?

Polygon (MATIC) is an Ethereum token that powers the Polygon Network — a protocol and framework for building and connecting Ethereum-compatible blockchain networks. Polygon is what’s known as 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. 

To use Polygon, you can “bridge” some of your crypto over to Polygon (using the official Polygon Bridge), and then interact with a wide range of popular crypto apps that were once exclusive to the main Ethereum blockchain.

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.

How does Polygon work?

An increasing number of decentralized financial applications support Polygon. To avoid unnecessary fees, check that your app is supported before you bridge assets from Ethereum’s main chain. Popular decentralized applications such as Aave, Sushiswap, and Curve Finance all support Polygon as of December 2021.

In order to engage in Polygon’s network, you will need a multi-chain wallet like Coinbase Wallet. Using Coinbase Wallet, you can browse to the Polygon Bridge to exchange Ethereum assets, and monitor your balances across different networks.

Where can I buy MATIC?

Depending on where you live, you can buy, send, and receive MATIC by creating an account on Coinbase.

As MATIC is an ERC-20 token issued on Ethereum, it can also be purchased using a variety of decentralized exchanges such as Uniswap and Sushiswap. In addition, you can use the official Polygon Bridge in order to exchange assets between Ethereum and Polygon.

How do I stake MATIC?

Polygon’s sidechain is secured by proof of stake. By staking MATIC, a network of powerful computers secure and validate the network (earning MATIC rewards in the process). Some participants can also “delegate” their MATIC to a validator in order to receive a portion of their rewards. MATIC can be staked using the official Polygon Wallet (note: Polygon staking is currently not available via the Coinbase platform).

Released: October 2017

Polygon is on the rise this week.

The price of Polygon has risen by 63.81% in the past 7 days. The price increased by 2.05% in the last 24 hours. In just the past hour, the price grew by 0.03%. The current price is $0.6009 per MATIC. Polygon is 79.42% below the all time high of $2.92.

The current circulating supply is 8,001,489,374.62 MATIC.

Polygon on social media.

Polygon was mentioned in 15,321 out of 1,834,745 social media posts on Twitter and Reddit on Jun 23, 2022. 13,148 unique individuals are talking about Polygon and it is ranked #13 in most mentions and activity from collected posts.

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Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.

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