A Look at MATIC Price and Platform Progress
Polygon
(MATIC) experienced a slight price decrease today, closing at $0.999183. Let's
review some key metrics and developments.
Declining
Volume and Price
Trading volume
over the past 24 hours reached $849 million, reflecting a 0.8% price drop.
However, MATIC has risen 17.1% over the past week.
Expanding
Ecosystem
Polygon's SDK
allows building on various chains like Optimistic and ZK Rollups. This
transforms Ethereum into a multi-chain system like Polkadot and Cosmos while
maintaining security.
Continued
Progress
Existing DApps
built on Polygon's Plasma chain will operate as normal. Developers gain more
flexible options to scale applications.
Accessing
MATIC
Popular
exchanges offer MATIC trading pairs like MATIC/USDT on HitBTC with $1.5 billion
volume in 24 hours. Binance and Bitunix also support MATIC.
Decreased
Trading Activity
24-hour
trading volume recently fell 34.8%, indicating possible lower near-term demand.
However, long-term trends remain positive.
All-Time Highs
and Lows
MATIC set an ATH of $2.92 in December but has since declined 65.7%. The previous ATL in May 2019 saw a 31,756x price increase.
Outpacing the
Market
Polygon's
7-day 17.2% gain outpaced broader crypto's 0.6% rise and comparable assets'
0.7% increase.
Adding MATIC
to MetaMask
For HODLers,
the contract address makes direct import simple via CoinGecko or manual entry.
In summary,
while MATIC experienced a short-term pullback, its platform progress remains
strong. The long-term trend appears positive relative to the broader market.
The value of Polygon (MATIC) has experienced a decrease today, with the current price standing at $0.999183. Over the past 24 hours, the trading volume for MATIC has reached $849,143,827.55, reflecting a 0.80% decline in price during this period. However, there has been a notable 17.10% increase in price over the last 7 days. The circulating supply of MATIC is 9.3 billion, contributing to a market capitalization of $9,297,775,922.
Polygon, formerly known as Matic Network, serves as a user-friendly platform for Ethereum scaling and infrastructure development. Its primary component, the Polygon SDK, offers a versatile framework supporting the creation of various applications, including Optimistic Rollup chains, ZK Rollup chains, standalone chains, and more. By doing so, Polygon transforms Ethereum into a comprehensive multi-chain system, resembling other systems like Polkadot, Cosmos, and Avalanche, while benefiting from Ethereum's security, dynamic ecosystem, and openness.
Existing ecosystems built on the Plasma-POS chain will remain unaffected, and Polygon aims to enhance the technology to meet diverse needs within the developer community. The $MATIC token will continue to play a crucial role in securing the system and facilitating governance.
For those interested in purchasing Polygon, MATIC tokens are available on various centralized cryptocurrency exchanges. HitBTC is a popular choice, where the MATIC/USDT trading pair has seen a trading volume of $1,489,609 in the last 24 hours. Other reputable options include Binance and Bitunix.
The recent trading volume for Polygon (MATIC) is $842,068,761 in the last 24 hours, marking a 34.80% decrease from the previous day and indicating a recent decline in market activity.
The all-time high for Polygon (MATIC) occurred on Dec 27, 2021, at $2.92, representing a 65.70% decrease from the current price. Conversely, the all-time low was $0.00314376 on May 10, 2019, marking a significant 31,756.40% increase from the present value.
Polygon (MATIC) holds a market capitalization of $9,297,775,922, securing the 14th position on CoinGecko today. The fully diluted valuation (FDV) of Polygon is $10,015,978,073, representing the hypothetical maximum market cap, considering a total circulation of 10 billion MATIC tokens.
In terms of price performance, Polygon has demonstrated a 17.20% increase in the last 7 days, outperforming the global cryptocurrency market (up 0.60%) and comparable FTX Holdings cryptocurrencies (up 0.70%).
For users
looking to add Polygon (MATIC) to MetaMask, they can import MATIC as a token
using the contract address 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0. This can
be done manually or, if MetaMask's chrome extension is installed, added with a
single click on CoinGecko.
