Polygon
MATIC
4.6
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Market
Market stats
Market cap
$6.6B
Volume (24h)
$285.2M
Circulating supply
8.7B MATIC
Typical hold time
108 days
Popularity
#11
All time high
$2.92
Price change (1h)
+1.17%
Price change (24h)
-1.42%
Price change (7d)
-8.07%
Trading activity
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Polygon is on the decline this week.
The price of Polygon has fallen by 8.07% in the past 7 days. The price declined by 1.42% in the last 24 hours. In just the past hour, the price grew by 1.17%. The current price is $0.7611 per MATIC. Polygon is 73.93% below the all time high of $2.92.
The current circulating supply is 8,734,317,475.285 MATIC.
About
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
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Social
Polygon on social media.
Polygon was mentioned in 11,003 out of 1,542,865 social media posts on Twitter and Reddit on Sep 23, 2022. 8,988 unique individuals are talking about Polygon and it is ranked #25 in most mentions and activity from collected posts.
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Key indicators
Contributors
8,988 people
Posts
11,003 posts
Dominance
0.71%
Volume rank
#25
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News
CoinDesk • Sep 13, 22
Crypto Options Trading Startup Synquote Raises $2.8M From Initialized, Polygon
The Block • Sep 12, 22
Polygon chosen for Starbucks web3 ‘odyssey’
The Block • Aug 18, 22
Polygon leads investment in venture studio SuperLayer’s $25 million fund
CoinDesk • Jul 29, 22
Ethereum Classic Almost Triples, MATIC and UNI Surge as July Brings Relief to Crypto Market
The Defiant • Jul 21, 22
Polygon’s Embrace of Zero Knowledge Proofs Cranks Up the Heat in Scalability Race Layer 2 Makes Bold Move to Increase Transaction Speed and Lower Fees
CoinDesk • Jul 21, 22
Ethereum’s Kaleido Collaborates With Polygon for Web3 Adoption
FAQ
What is the current price of Polygon?
The price of 1 Polygon currently costs $0.76.
What is the market cap of Polygon?
The current market cap of Polygon is $6.64B. 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 $285.20M.
What other assets are similar to Polygon?
Assets that have a similar market cap to Polygon include Solana, Dogecoin, Polkadot, 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 8.7 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 108 days.
What is the relative popularity of Polygon?
Polygon ranks 6 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
What is the current trading activity of Polygon?
Currently, 93% of Coinbase users are buying Polygon. In other words, 93% of Coinbase customers have increased their net position in Polygon over the past 24 hours through trading.
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.
