Polygon

MATIC

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The CoinDesk 20 filters from the larger universe of thousands of cryptocurrencies and digital assets to define a core group of 20.

These assets constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.

Price
$1.55
24 Hour % Change
-15.84%
Market Cap
$15.50B
Volume (24h)
$2.34B
Linear
Log
to
1h12h1d1w1m3m1yall
Key metrics
24 Hour Low
$1.40
24 Hour High
$1.90
Net change
$-0.292972
24 Hour Open
$1.85
All time high
$2.92
Total Supply
10.00B
Returns (24H)
-15.84%
Returns (YTD)
-37.95%
Volatility (30d)
1.13
Transaction Count (24h)
n/a
Average Transaction Fee (24h)
n/a
Value Transacted (24h)
n/a

About Polygon

Category
Application token
Value proposition
Layer-2 network

Polygon (MATIC) is an ERC-20 token that supports the Polygon Network (fka Matic Network), a layer 2 scaling solution for Ethereum. Polygon’s end goal is to provide an improved user experience for Ethereum decentralized applications that are impaired by high gas fees and transaction processing times. Polygon aims to improve network speed and lower the cost of utilizing the Ethereum blockchain by using sidechains, which are separate blockchains anchored to Ethereum’s main chain. Polygon provides components and tools to build projects on top of Ethereum by allowing developers the option to launch stand-alone sidechains that rely on Ethereum as the base layer for security. Since these sidechains run alongside the main chain, users can deposit Ethereum tokens to a Polygon smart contract, interact with them within the Polygon Network and then withdraw the tokens back to the Ethereum main chain.


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Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or curation of CoinDesk content in all its forms.

Foundations - Consensus: Distributed