Polygon is the 14th biggest coin by market cap and the top 20’s biggest winner today. Currently, the live price is $2.10 with a 24-hour trading volume of $1.13 billion. Polygon’s native token MATIC has gained 5% in the last 24 hours.
This article explains what Polygon is, whether it’s worth investing in, and the top places to buy Polygon now.
Top places to buy Polygon now
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What is Polygon?
Polygon is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.
Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.
Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem.
Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.
Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds.
The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.
The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains.
So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.
Should I buy Polygon today?
Like all cryptocurrencies, Polygon is a volatile asset. Take all investment advice and price forecasts with a grain of salt and be prepared for the unexpected.
Polygon price prediction
According to Price Prediction, Polygon will hit $3 this year. The MATIC price will be at least $3.50 with the average trading price of $3.10. In 2023, it is predicted to reach at least $4.30 and $5.23 at most with the average price of $4.42 throughout the year.
In 2024, 1 MATIC will trade for at least $6.13. It can go up to $7.50 with an average trading price of $6.30.
Polygon on social media
I find many web3 enthusiasts think Solana is the #2 most used smart contract platform, but the data doesn't support that.
Pictured Left: Solana
– Avg. 180K Daily Active Users
Pictured Right: Polygon
– Avg. 270K Daily Active Users
*Active user = Sent a tx
**7-day moving average pic.twitter.com/75O1RMK4Jt
— Spencer Noon 🕛 (@spencernoon) December 13, 2021