Dive into the current trends of Polygon (MATIC) with real-time charts and instant updates provided by SLEX. Grasp a comprehensive insight into the status of the Polygon market, unravel the complexities of cryptocurrency trading, and immerse yourself in the dynamic landscape of digital finance. Benefit from broad news coverage and sharp market insights as you examine the various elements shaping the price trajectory of Polygon (MATIC)
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Polygon (MATIC) Price Real-Time Data
Polygon's current price stands at $1.13, with a trading volume of $1.11B over the last 24 hours. Its 24-hour peak price is $1.1487, its 24-hour low is $1.0783. Polygon is boasting a live market cap of $11.27B. There are 9.9B MATIC coins in circulation, against a maximum supply of 10B MATIC coins.
Overall Polygon Information
Polygon, formerly called Matic Network, is an Ethereum blockchain multi-chain scaling solution. It seeks to lessen transaction complexity and increase scalability on Ethereum. To do this, Polygon builds a Layer 2 network that runs concurrently with the main Ethereum chain, enabling more rapid and affordable transaction processing. It makes use of an altered version of the off-chain scaling Plasma framework. Polygon offers a platform for creating and joining blockchain networks that are compatible with Ethereum, combining scalable Ethereum solutions, and facilitating a multi-chain Ethereum environment.
October 2017 saw the introduction of Polygon, formerly known as Matic Network. Anurag Arjun, Jaynti Kanani, and Sandeep Nailwal were the first co-founders of the platform; Mihailo Bjelic later joined as a co-founder. The goal was to maintain decentralization while solving the scalability and usability problems with blockchains like Ethereum. Matic Network changed its name to Polygon in February 2021 as part of a strategic move to develop a multi-chain solution for Ethereum, similar to what Polkadot provides.
Polygon was founded in part by:
- Jaynti Kanani, the CEO of Polygon, is a blockchain engineer and full-stack developer who was a key player in the Ethereum community when working at Housing.com;
- Sandeep Nailwal is the COO of Polygon and an entrepreneur and blockchain coder;
- Anurag Arjun: Polygon's CPO, with a background in product management and experience working for several software firms;
- Mihailo Bjelic: He joined as a co-founder following the network's debut and has made a substantial development contribution to the platform.
Is Investing in Polygon a Good Idea?
The present state of the market, your risk tolerance, and your investing goals will all determine whether Polygon (MATIC) is a wise choice. Here are some things to think about:
- Popularity: The persistent scalability issues on the Ethereum mainnet have led to a rise in the popularity of Polygon. Due to its fast speed and cheap transaction fees, it has been employed in many projects.
- Partnerships: Polygon has landed a number of integrations and partnerships that might boost its value as a token and increase its adoption.
- Market Position: Polygon is one of the highest-ranked cryptocurrencies by market capitalization as of the deadline in April 2023, which indicates a strong position in the market.
- Volatility: The market is volatile for MATIC, just like it is for any cryptocurrency. Its value is subject to large swings in a brief amount of time.
- Technology and Development: Polygon's continued advancement and the team's dedication to enhancing the platform can be a sign of things to come.
- Market developments: The price of MATIC may also be considerably impacted by broader market developments in the cryptocurrency industry.
Learn more about Polygon (MATIC)
What is Polygon?
Polygon (formerly known as Matic Network) is a framework for building and connecting Ethereum-compatible blockchain networks. It provides scalable solutions on Ethereum, supporting a multi-chain Ethereum ecosystem.
How does Polygon work?
Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the Ethereum co-founder Vitalik Buterin allows for the easy execution of scalable and autonomous smart contracts. Essentially, Polygon transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains) similar to other ones such as Polkadot, Cosmos, etc.
Is Polygon safe to invest in?
As with any cryptocurrency, investing in Polygon carries risk. While the project has strong fundamentals and widespread usage, market volatility can lead to substantial price changes. It is crucial to do your own research and consider your risk tolerance before investing in any cryptocurrency.
Can Polygon be exchanged for real money?
Yes, Polygon (MATIC) can be exchanged for real money. Most cryptocurrency exchanges allow you to convert MATIC to fiat currency and withdraw it to your bank account.
How do I buy Polygon on SLEX Exchange?
To buy Polygon on SLEX Exchange, you would typically create an account, complete any necessary KYC process, deposit funds or a cryptocurrency like Bitcoin or Ethereum, and then trade it for Polygon (MATIC). Specific steps may vary based on SLEX Exchange's design and user interface.
How can I store my Polygon coin securely after purchasing on SLEX?
After purchasing Polygon, you can store it securely in a hardware wallet (cold storage) or a reputable software wallet that supports MATIC. Ensure to keep your private keys secure and enable any additional security features offered by the wallet, such as two-factor authentication.
What determines the price of 1 Polygon in fiat currencies on SLEX?
The price of 1 Polygon in fiat on SLEX is determined by supply and demand dynamics within the exchange. It can also be influenced by the exchange's liquidity, trading volume, and how the price aligns with the broader cryptocurrency market rates.
What advantages does SLEX offer for Polygon to fiat currency conversion without account registration?
If SLEX offers this service, the advantage would typically be the ability to quickly and anonymously convert Polygon to fiat currency. However, regulatory requirements for anti-money laundering (AML) and know your customer (KYC) can limit the extent of services offered without registration.
How Much Will Polygon Be Worth in the Future?
Predicting the future value of any cryptocurrency, including Polygon, is highly speculative. It depends on numerous factors including market trends, technological development, regulatory changes, and the overall crypto economy. As such, providing a precise value is not possible, and investing in cryptocurrency should be approached with caution and based on thorough research.