HomePolygon rapidly reversing gains, down another 5% today: should you buy Polygon now?

Polygon rapidly reversing gains, down another 5% today: should you buy Polygon now?

Daniela Kirova

The live Polygon price today is $1.86 with a 24-hour trading volume of $2.5 billion. Polygon is down 5.07% in the last 24 hours. Should you buy Polygon now? Read on to find out.

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What is Polygon?

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, and Avalanche with the advantages of Ethereum’s security, vibrant ecosystem and openness. Polygon seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains. It 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.

Should I buy Polygon today?

Polygon dropped to below $2 recently, following some spectacular gains. Before you make this decision, conduct a thorough market analysis.  

Polygon price prediction

Crowd Wisdom recommends selling in the next few hours with two negative and two positive momentum indicators. One indicator is steady. Of course, you can choose to hodl. According to Crypto Bulls Club, 1 MATIC will have passed $100 in 2030.

Polygon on social media

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