Polygon Crypto
| MATIC Crypto | USD 0.68 0.01 1.49% |
Performance0 of 100
| Risk Of DevaluationOver 73
|
Polygon is trading at 0.68 as of the 19th of April 2024, a 1.49% increase since the beginning of the trading day. Polygon has a very high chance of experiencing financial distress in the next few years of operation. It has also generated negative returns for investors over the last 90 days. Cryptocurrency ratings for Polygon are calculated daily based on our scoring framework. The performance scores are derived for the period starting the 24th of July 2023 and ending today, the 19th of April 2024. Click here to learn more.
Polygon is peer-to-peer digital currency powered by the Blockchain technology. More on Polygon
Moving together with Polygon Crypto Coin
| 0.86 | XRP | XRP | PairCorr |
| 0.79 | STETH | Staked Ether | PairCorr |
| 0.69 | AVAX | Avalanche | PairCorr |
Polygon is an online market maker for p2p online currency indicated as Cryptocurrency. Polygon has been active in the last 3 months, and it is presently expressing a bullish sentiment. Cryptocurrencies such as Polygon are digital assets that allow for secure payments and are represented by ledger entries internal to the system, generally referred to as a blockchain. Blockchain implementations use encryption algorithms and cryptographic techniques that safeguard entries in the ledger. Cryptocurrency assets such as Polygon are becoming very popular among investors and have been praised for their portability, inflation resistance, and transparency. However, they face a lot of criticism, including lack of tax regulations, exchange rate volatility, and infrastructure vulnerabilities.
Polygon Crypto Coin Highlights
Most cryptocurrency investors view market volatility as an opportunity to invest at a favorable price or to sell short against a bearish trend or investor sentiment. Polygon's investment highlights are automatically generated signals that are significant enough to complement your investing judgment regarding Polygon or challenge it. These highlights can help you better understand the crypto position you are entering and avoid costly mistakes.
| Thematic Idea | USD Crypto Fund (View all Themes) |
| Business Concentration | USD Crypto Fund, Technology, Cryptocurrency, Blockchain (View all Sectors) |
Polygon is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 27 exchanges in multiple currencies. Polygon (MATIC) is a scaling solution for the Ethereum blockchain that aims to provide faster and cheaper transactions. It is a parallel blockchain that users can "bridge" their tokens to and interact with through compatible wallets such as MetaMask or Coinbase Wallet. The network is secured by a Proof-of-Stake consensus algorithm and its native currency, MATIC, is used to pay for transaction fees and can be staked to earn rewards. Polygon was launched in 2020 by Ethereum developers and has attracted several leading DeFi applications to its network, including Uniswap, Aave, and PoolTogether. | |
| Coin Type | Polygon |
| Industry | Blockchain-Specific Application |
| FINMA | Utility |
| FCA | Utility |
| Access | Permissionless |
| Collateralized Asset | No |
| Symbol | MATIC |
| Technology Adoption Rating | B+ |
| Market Performance Rating | C+ |
| Name | MATIC |
| Sponsored | false |
| Block Reward | 0.4 |
| Asset Whitepaper Url | View |
| Decimal Points | 18.0 |
| Is Trading | true |
| Asset Launch Date | 2020-05-30 |
| Full Name | Polygon (MATIC) |
| Asset Website Url | https://polygon.technology/ |
| Block Number | 55.96 Million |
| Platform Type | blockchain |
| Coin Name | Polygon |
| Total Coins Mined | 10 Billion |
Polygon (MATIC) is traded on CRYPTO Exchanges. Polygon is peer-to-peer digital currency powered by the Blockchain technology. The coin currently falls under 'Nano-Cap' category with a current market capitalization of 4.89 M. Market capitalization usually refers to the total value of a company's stock within the entire market. To calculate Polygon's market, we take the total number of its shares issued and multiply it by Polygon's current market price. To manage market risk and economic uncertainty, many investors today build portfolios that are diversified across equities with different market capitalizations. However, as a general rule, conservative investors tend to hold large-cap stocks, and those looking for more risk prefer small-cap and mid-cap equities.
Polygon's Exchanges and Markets
HitBTC CoinJar Bitfinex Yobit Bitstamp Luno Unocoin itBit Coinbase Catex Kraken NDAX Poloniex Lykke BitMart Binance Zaif Korbit DigiFinex Coinone Bitkub Gemini Bithumb Bitso CoinEx LBank BigONEPolygon Target Price Odds Analysis
What are Polygon's target price odds to finish over the current price? Based on a normal probability distribution, the odds of Polygon jumping above the current price in 90 days from now is over 95.68%. The Polygon probability density function shows the probability of Polygon crypto coin to fall within a particular range of prices over 90 days. Assuming the 90 days trading horizon the crypto coin has a beta coefficient of 1.8778. This indicates as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are projected to be negative, Polygon will likely underperform. Additionally, polygon has a negative alpha, implying that the risk taken by holding this instrument is not justified. The company is significantly underperforming the NYSE Composite.
Based on a normal probability distribution, the odds of Polygon to move above the current price in 90 days from now is over 95.68 (This Polygon probability density function shows the probability of Polygon Crypto Coin to fall within a particular range of prices over 90 days) .
Comprehensive Overview of MATIC
Known initially as Matic Network, Polygon is a cryptocurrency for a technology platform that connects and scales blockchain networks. It connects Ethereum-based projects using the Ethereum blockchain. By using the Polygon platform, blockchain projects can improve their flexibility, scalability, and sovereignty while reaping the benefits of the Ethereum blockchain's security, interoperability, and structural benefits. MATIC is a cryptocurrency used on the Polygon network to pay fees, for staking, and for governance (stakeholders get to vote on changes to the Polygon network). MATIC can also be bought and sold on Coinbase and other exchanges. MATIC originated from Polygon's earlier development stage. Upon launch in October 2017, Matic Network quickly rebranded to Polygon in early 2021.
How does it work?
Polygon can be compared to a faster train that still goes the same path as the regular train but bypasses some stations. Ethereum's main blockchain represents the local train in this analogy. Polygon leverages various advanced technologies to make a quick parallel blockchain and links it to the main Ethereum blockchain. One way to earn on MATIC is by staking; Polygon employs a proof-of-stake consensus mechanism to create new MATIC and secures the program.
Why is Polygon suitable for Ethereum?
Rather than competition, Polygon is reliant on Ethereum and vice versa. The purpose of Polygon is to create an infrastructure that can hold up under the increased traffic of Ethereum, given the rapid increase in mass adoption. Polygon relies more on Ethereum than Ethereum relies on Polygon. This is expected since Polygon is built on Ethereum's blockchain. Using Polygon might greatly help with the speed issue but also devalue Ethereum. That would, in turn, make it more difficult for Ethereum to see significant growth and reduce user interaction in certain places. To be more precise. Polygon improves Ethereum, thus increasing the number of users of the Ethereum blockchain. Thus its value will rise despite the potential for total value locked (TVL) to be stolen from Ethereum.
Where can I buy MATIC?
Based on where you live, you can purchase, send, and receive MATIC if you sign up with Coinbase and other major crypto marketplaces. Since 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. You can also exchange assets between Ethereum and Polygon via the official Polygon Bridge.
Polygon's Advantage
Fast transaction processing: Through a consensus mechanism that completes the confirmation process in one block, Polygon maintains fast transaction processing speeds. Processing blocks in Polygon takes an average of 2.1 seconds.
Low transaction fees: With a typical transaction fee of around $0.01, Polygon keeps its fees for using the platform low.
Polygon's Disadvantage
Not an autonomous blockchain: Polygon is a layer two solution for Ethereum. If Ethereum experiences disruptions or ceases to exist, Polygon's value will likely decrease significantly.
Limited Use: MATIC is designed to pay transaction fees and govern and secure the Polygon platform. Since MATIC is not used for everyday purchases, it is not comparable to other digital currencies.
Polygon Risk Profiles
Investors will always prefer to have the highest possible return on investment while minimizing volatility. Polygon market risk premium is the additional return an investor will receive from holding Polygon long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Polygon. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Although Polygon's alpha and beta are two of the key measurements used to evaluate Polygon's performance over the market, the standard measures of volatility play an important role as well.
Polygon Technical Analysis
When it comes to investing in cryptocurrency, such as Polygon, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of Polygon, which is currently traded at 0.68, shows everything you need to know about Polygon market value. You don't have to consider the fundamental factors that affect a crypto asset, such as Polygon, to determine its price movements. However, the Polygon's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so Polygon's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project Polygon's future price trendTransformation |
The output start index for this execution was zero with a total number of output elements of sixty-one. Polygon Inverse Tangent Over Price Movement function is an inverse trigonometric method to describe Polygon price patterns.
Polygon Against Markets
Picking the right benchmark for Polygon crypto coin is fundamental to making educated investment choices. Many naive investors compare their positions with the S&P 500 or with the Nasdaq. But these benchmarks are not all-inclusive and generally should be used only for large-capitalization equities or stock offerings from large companies. When the price of a selected benchmark declines in a down market, there may be an uptick in Polygon crypto coin price where buyers come in believing the asset is cheap. The opposite is true when the market is bullish; so, accurately picking the benchmark for Polygon is critical whether you are bullish or bearish towards Polygon at a given time. Please also check how Polygon's historical prices are related to one of the top price index indicators.
Be your own crypto manager
Our tools can tell you how much better you can do entering a position in Polygon without increasing your portfolio risk or giving up the expected return. As an individual cryptocurrency investor, you need to find a reliable way to track the performance of all your tokens in a consistent way. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall cryptocurrency portfolio.Did you try this?
Run Bollinger Bands Now
Bollinger BandsUse Bollinger Bands indicator to analyze target price for a given investing horizon |
| All Next | Launch Module |
How to invest in Polygon
You need to understand the risk of getting into digital currencies such as MATIC before investing. The dangers of trading cryptocurrencies are mainly related to their volatility. They are high-risk, speculative, susceptible to errors and hacking, mostly unregulated, and can be affected by forks or other discontinuation events. As an investor, you must understand these perils before you start trading. You can get a long position in Polygon in four ways:Buy MATIC through an exchange
Get yourself a crypto wallet before embarking on your Polygon journey. Crypto wallets exist as desktop applications, mobile apps, or websites, allowing you to secure your tokens or digital coins. Your crypto wallet stores the private keys to your tokens on the blockchain. Once you have a wallet, visit a reputable exchange and sign up for an account. You will need to complete the KYC process to be allowed to purchase Polygon. But before you can buy the tokens, you have to provide a photo of your ID and proof of address, as well as a selfie. The platform will also require you to secure your account with 2FA before you can fund your account and buy the digital coins.Purchase fractions of Polygon through an exchange
You don't have to buy a full token when starting out since MATIC is divisible by several decimal places. This allows you to purchase tiny fractions worth cents, but because of network fees, most platforms have a minimum figure, such as $10. You can then build your portfolio with time as you gain more confidence and learn the ropes of crypto trading.Trade Polygon through a broker
If you don't want to store your Polygon Crypto Coin yourself for one reason or another, you can still trade through a broker. Brokers hold your tokens and trade frequently to generate profits. In addition, many brokerage platforms offer derivative products, such as contracts for difference, that enable you to speculate on price movements. Such products also allow brokers to accommodate leverage trading, potentially multiplying your profits.Invest in MATIC through an exchange-traded fund (ETF)
You can also invest in MATIC through an exchange-traded fund (ETF). This instrument helps track an asset or select assets. You can buy and sell them on stock exchanges, making them the best option for an average investor. Some ETFs may comprise several coins to spread risk across a portfolio. Such ETFs are created and controlled by picking a basket with several coins, while favoring those that have performed well in the recent past.Investing Ideas
In addition to having Polygon in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Thematic Opportunities
Explore Investment Opportunities
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Polygon. Also, note that the market value of any cryptocurrency could be tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. Note that the Polygon information on this page should be used as a complementary analysis to other Polygon's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.