Polygon (MATIC) Price Up 5.1% This Week

Polygon (MATIC) traded up 4.5% against the dollar during the 24-hour period ending at 19:00 PM ET on January 25th. One Polygon coin can currently be bought for $0.99 or 0.00004303 BTC on cryptocurrency exchanges. During the last seven days, Polygon has traded up 5.1% against the dollar. Polygon has a market capitalization of $8.69 billion and approximately $459.10 million worth of Polygon was traded on exchanges in the last day.

Here’s how similar cryptocurrencies have performed during the last day:

  • Aidi Finance (BSC) (AIDI) traded 2.1% higher against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Zoo Token (ZOOT) traded 3.7% higher against the dollar and now trades at $0.0611 or 0.00000264 BTC.
  • CareCoin (CARES) traded 3.7% higher against the dollar and now trades at $0.0759 or 0.00000328 BTC.
  • OmniaVerse (OMNIA) traded 1.4% higher against the dollar and now trades at $0.0020 or 0.00000009 BTC.
  • Kitty Inu (KITTY) traded up 3.7% against the dollar and now trades at $93.95 or 0.00406323 BTC.
  • Lunar (LNR) traded down 2.6% against the dollar and now trades at $0.0278 or 0.00000120 BTC.
  • Hokkaidu Inu (HOKK) traded 11.6% lower against the dollar and now trades at $0.0005 or 0.00000002 BTC.
  • QANplatform (QANX) traded up 3.7% against the dollar and now trades at $6,594.55 or 0.28520853 BTC.
  • 2G Carbon Coin (2GCC) traded 0.3% higher against the dollar and now trades at $135.76 or 0.00587151 BTC.
  • Lego Coin (LEGO) traded 5.6% lower against the dollar and now trades at $0.0406 or 0.00000176 BTC.

Polygon Profile

Polygon launched on March 26th, 2018. Polygon’s total supply is 10,000,000,000 coins and its circulating supply is 8,734,317,475 coins. Polygon’s official Twitter account is @0xpolygon and its Facebook page is accessible here. Polygon’s official message board is blog.polygon.technology. The Reddit community for Polygon is https://reddit.com/r/0xpolygon and the currency’s Github account can be viewed here. The official website for Polygon is polygon.technology.

According to CryptoCompare, “The Ethereum blockchain is home to thousands of smart contracts and decentralized applications. The flurry of activity on it has seen transaction fees make using the network economically unviable for some of its users, creating demand for scaling solutions, like Polygon.What is Polygon?Polygon (MATIC) is a Layer-2 scaling solution for Ethereum that provides users with faster transactions and lower costs as a parallel blockchain running alongside the main Ethereum network.To use the Polygon network, users have to “bridge” their tokens from Ethereum to it. There are numerous decentralized applications built on top of Polygon, including several leading Ethereum-based protocols that have made their applications work on both networks.The Polygon network can be used through cryptocurrency wallets compatible with Web3 applications such as MetaMask or the Coinbase Wallet. These are wallets that can interact with smart contracts on the blockchain and can be found built-in to some web browsers such as Opera and Brave.What is the MATIC token?The MATIC token is Polygon’s native currency, used to pay for transaction fees on the network. The cryptocurrency is also Polygon’s governance token, which means MATIC token holders get to vote on change proposals to Polygon.As the network uses a Proof-of-Stake (PoS) consensus algorithm, MATIC can be staked to help secure the network in exchange for rewards in MATIC. The ticker MATIC comes from a previous stage of Polygon’s development, as at launch it was named the MATIC Network.Who Created Polygon?Polygon was first launched back in 2017 as the Matic Network by several Ethereum developers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The network went live in 2020 and quickly attracted some of the largest DeFi applications.The network raised the equivalent of $5.6 million in TH with the sale of 1.9 billion MATIC tokens back in April 2019.The Polygon network currency has several blue-chip DeFi applications launched on top of it, including decentralized exchange Uniswap, lending platform Aave, and decentralized lottery platform PoolTogether.”

Buying and Selling Polygon

It is usually not possible to buy alternative cryptocurrencies such as Polygon directly using US dollars. Investors seeking to trade Polygon should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Polygon using one of the exchanges listed above.

Receive News & Updates for Polygon Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Polygon and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.