On Friday (April 30), on crypto exchange FTX, the Polygon ($MATIC) price broke $0.9400, hitting a new all-time high of $0.9479 at 00:28 UTC.
One-Day MATIC-USD Chart (FTX) by TradingView
Currently (as of 10:00 UTC on April 30), $MATIC is trading around $0.8898, which means that it is up 10.30% in the past 24-hour period.
As for $MATIC’s year-to-date (YTD) performance, MATIC-USD is up an incredible 4955.68%.
YTD MATIC-USD Chart (FTX) by TradingView
Polygon is “a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.”
Here is the current status of the project:
Source: Polygon’s website
Some of the many crypto projects that are using Polygon’s framework are Polymarket, Decentral Games, EasyFi, and The Graph.
$MATIC had its initial exchange offering (IEO) on Binance Launchpad in April 2019.
Yesterday (April 29), Gregor Zupanc, Co-Founder and CEO at crypto-focused investment firm Solidum Capital, said that thanks to $MATIC’s price action, as of 14:18 UTC, $MATIC had become the largest component of their portfolio:
— Gregor Zupanc (@gregzupanc) April 29, 2021
Solidum Capital’s second largest holding is Ethereum ($ETH). Zupanc seems highly bullish on Polygon since he believes that $MATIC is “on its way to the top 10 by market cap.”
On Tuesday (April 27), Alex Svanevik, Co-Founder and CEO at blockchain analytics firm Nansen, shared some data that indicates that Polygon’s transaction volume is catching up with Ethereum’s transaction volume:
— Alex Svanevik 🧭 (@ASvanevik) April 27, 2021
Featured Image by “Simon” via Pixabay.com
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.