Trend: Short-term trend is Strong Down, Medium-term trend is Strong Down, Long-term trend is Strong Down.

Momentum:  is Bearish but inflecting. MACD Line is still below MACD Signal Line but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing an upswing. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance: Nearest Support Zone is $0.33. Nearest Resistance Zone is $0.43, then $0.58.

A platform called Polygon was created to aid in the growth of Ethereum’s infrastructure and scale. Its main component is a modular, adaptable framework (Polygon SDK) that enables programmers to create and link Layer-2 infrastructures like Plasma, Optimistic Rollups, zkRollups, and Validium as well as independent sidechains like the project’s flagship product, Matic POS (Proof-of-Stake). In February 2021, Polygon, formerly known as Matic Network, changed its name and shifted its focus to supporting various Layer-2 infrastructure. The Matic POS sidechain and Plasma-based payment system, which is presently home to over 90 apps, will still be supported.

History

In 2017, Polygon debuted as Matic Network. To address challenges with blockchain scale and usability, Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun co-founded it. High transaction fees and latency for traditional blockchains might impede their adoption, technological efficiency, and user experience. For networks that can’t automatically grow as user activity rises, load-balancing can be performed through layer-2 scaling solutions or external networks. Matic included a plasma-driven scaling strategy and Proof-of-Stake (PoS) sidechains to help Ethereum as user demand for the network rose. In 2017, Plasma was at the vanguard of blockchain scaling. Matic POS evolved as a well-known scalable choice for several applications. In February 2021, Matic changed its name to Polygon to position itself as a Swiss Army knife for scaling solutions. Rollup and Validium functionality will be added by Polygon to its already functional Plasma/POS chain. The team is aware that a single solution by itself might not be able to grow Ethereum. Polygon aspires to play a key role in providing the infrastructure required to establish any of these systems. It is possible that several solutions may co-exist and help expand Ethereum collectively.

Supply Curve Details

After the sale, IEO (initial exchange offering) tokens became unlocked. At the moment of launching, half of all private sale tokens were unlocked, while the remaining tokens vested after six months (October 2019). Here you may find information about the remaining token release timetable.

Token Usage Details

MATIC is Polygon’s native token. These are the functions of this token: Fees: The main purpose of the MATIC token is to cover network transaction fees. The token is intended to be a utility token that serves as the medium of exchange for payments and settlements among users interacting with the Polygon ecosystem. Staking: The Proof-of-Stake (PoS) layer used by Matic sidechains to guarantee consensus requires that network users stake MATIC in order to act as validators and get staking incentives. Several operations on the Polygon Network, like verifying blocks and posting proofs, call on computational resources. MATIC inflation encourages these resource providers to bootstrap security and uphold network integrity by rewarding them.

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