Price of Polygon (MATIC) today
As of the latest data, Polygon (MATIC) is currently priced at $0.7037 with a market capitalization of $7.13B. The 24-hour trading volume stands at $273.04M, The circulating supply of Polygon is approximately 9.90B. The cryptocurrency has seen a -2.33% decrease in value over the past 24 hours.
About Polygon (MATIC)
Polygon, also known as MATIC, is a developer-first hybrid POS+Plasma sidechain built on top of Ethereum. Its main purpose is to enable Ethereum developers to scale their decentralized applications (DApps) for large-scale usage. With secure, scalable, and instant transactions secured by Ethereum, Matic is quickly becoming the preferred Layer 2 Solution for developers. Over 70 DApps are already building on Matic, including DeFi Protocols, games, and prediction markets.
Key strengths and features of Matic include L2 transactions secured by Plasma, zero-effort deployment for existing Ethereum programmers, extremely low-cost transactions, high throughput, fast confirmation times (1-2 seconds), and exponential adoption with more than 60 DApps already on the platform. It serves as an ideal solution for DeFi projects looking to overcome Ethereum's performance bottlenecks. Developers can deploy their existing Ethereum DApps on Matic in less than 15 minutes, making it a convenient and efficient scaling solution.
For those interested in exploring Matic further, documentation is available on their website. Additionally, links to their GitHub repository, whitepaper, and social media accounts can be found on their website. With its focus on scalability, security, and ease of use, Matic offers a promising solution for Ethereum developers looking to expand the capabilities of their DApps.
How does Polygon work?
Polygon (MATIC) is a layer 2 scaling solution for Ethereum that aims to improve scalability and reduce transaction costs on the network. It operates as a decentralized platform that enables peer-to-peer transactions through its underlying blockchain technology. Polygon utilizes a Proof of Stake (PoS) consensus mechanism to validate transactions and secure the network. One of its unique features is its ability to support multiple sidechains, allowing for faster and more efficient transactions. This makes it an attractive option for developers looking to build decentralized applications (dApps) and decentralized finance (DeFi) projects. Polygon's versatility and interoperability with Ethereum make it a valuable tool for various industries, including gaming, NFTs, and supply chain management, offering a seamless and cost-effective solution for conducting transactions and executing smart contracts. Its decentralized nature and efficient scaling capabilities set it apart from traditional financial systems, providing a more inclusive and accessible platform for users worldwide.
How to keep your Polygon (MATIC) safe?
To keep your Polygon (MATIC) safe, consider using hardware wallets like Ledger for enhanced security measures. These wallets provide an extra layer of protection by storing your private keys offline, making it harder for hackers to access your funds. Additionally, trusted platforms like Nexo, EarnPark, and Coinbase offer secure storage options and advanced security features to keep your MATIC safe from potential threats. By utilizing these tools and platforms, you can ensure the safety of your cryptocurrency investments and have peace of mind knowing that your assets are well-protected.
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Sentiment about Polygon (MATIC)
Social media platforms are indicating a positive sentiment towards Polygon. The sentiment score, which represents the balance between positive and negative posts weighted by interactions, is broken down as follows:
• Reddit posts show 91%
• YouTube videos show 94%
• TikTok videos show 50%
• On X (formerly Twitter), sentiment towards Polygon varies. Approximately 71.03% of tweets express bullish sentiment, 4.31% express bearish sentiment, and 24.67% remain neutral. These sentiments are based on 1.39M tweets.
These findings are based on a total of 1.39M interactions over the last 24 hours, involving 687 unique social contributors to the topic.
This aligns with Polygon's market performance; it is currently priced at $0.7092 with a market capitalization of $7.13B.
In addition, in the last 24 hours, the price decreased by -1.57%. Market data suggests a bearish sentiment, indicating a negative outlook for the cryptocurrency.
