Polygon Reaches 24 Hour Volume of $451.86 Million (MATIC)

Polygon (MATIC) traded 3.9% lower against the dollar during the 24-hour period ending at 14:00 PM E.T. on January 25th. Polygon has a market cap of $8.42 billion and $451.86 million worth of Polygon was traded on exchanges in the last 24 hours. One Polygon coin can now be purchased for $0.96 or 0.00004245 BTC on popular cryptocurrency exchanges. Over the last seven days, Polygon has traded down 0.2% against the dollar.

Here is how similar cryptocurrencies have performed over the last 24 hours:

  • Aidi Finance (BSC) (AIDI) traded 5.5% lower against the dollar and now trades at $0.0000 or 0.00000000 BTC.
  • Zoo Token (ZOOT) traded 4.1% lower against the dollar and now trades at $0.0589 or 0.00000260 BTC.
  • CareCoin (CARES) traded down 4.1% against the dollar and now trades at $0.0732 or 0.00000323 BTC.
  • OmniaVerse (OMNIA) traded up 3.7% against the dollar and now trades at $0.0021 or 0.00000009 BTC.
  • Kitty Inu (KITTY) traded 4.2% lower against the dollar and now trades at $90.58 or 0.00400271 BTC.
  • Lunar (LNR) traded down 4.7% against the dollar and now trades at $0.0277 or 0.00000122 BTC.
  • Hokkaidu Inu (HOKK) traded up 15.2% against the dollar and now trades at $0.0005 or 0.00000002 BTC.
  • QANplatform (QANX) traded down 4.1% against the dollar and now trades at $6,358.37 or 0.28097867 BTC.
  • 2G Carbon Coin (2GCC) traded 0.4% lower against the dollar and now trades at $135.06 or 0.00596835 BTC.
  • Lego Coin (LEGO) traded down 1% against the dollar and now trades at $0.0405 or 0.00000178 BTC.

Polygon Profile

Polygon was first traded on March 26th, 2018. Polygon’s total supply is 10,000,000,000 coins and its circulating supply is 8,734,317,475 coins. The Reddit community for Polygon is https://reddit.com/r/0xpolygon and the currency’s Github account can be viewed here. Polygon’s official Twitter account is @0xpolygon and its Facebook page is accessible here. The official website for Polygon is polygon.technology. Polygon’s official message board is blog.polygon.technology.

According to CryptoCompare, “The Ethereum blockchain is home to thousands of smart contracts and decentralized applications. The flurry of activity on it has seen transaction fees make using the network economically unviable for some of its users, creating demand for scaling solutions, like Polygon.What is Polygon?Polygon (MATIC) is a Layer-2 scaling solution for Ethereum that provides users with faster transactions and lower costs as a parallel blockchain running alongside the main Ethereum network.To use the Polygon network, users have to “bridge” their tokens from Ethereum to it. There are numerous decentralized applications built on top of Polygon, including several leading Ethereum-based protocols that have made their applications work on both networks.The Polygon network can be used through cryptocurrency wallets compatible with Web3 applications such as MetaMask or the Coinbase Wallet. These are wallets that can interact with smart contracts on the blockchain and can be found built-in to some web browsers such as Opera and Brave.What is the MATIC token?The MATIC token is Polygon’s native currency, used to pay for transaction fees on the network. The cryptocurrency is also Polygon’s governance token, which means MATIC token holders get to vote on change proposals to Polygon.As the network uses a Proof-of-Stake (PoS) consensus algorithm, MATIC can be staked to help secure the network in exchange for rewards in MATIC. The ticker MATIC comes from a previous stage of Polygon’s development, as at launch it was named the MATIC Network.Who Created Polygon?Polygon was first launched back in 2017 as the Matic Network by several Ethereum developers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The network went live in 2020 and quickly attracted some of the largest DeFi applications.The network raised the equivalent of $5.6 million in TH with the sale of 1.9 billion MATIC tokens back in April 2019.The Polygon network currency has several blue-chip DeFi applications launched on top of it, including decentralized exchange Uniswap, lending platform Aave, and decentralized lottery platform PoolTogether.”

Buying and Selling Polygon

It is usually not presently possible to buy alternative cryptocurrencies such as Polygon directly using US dollars. Investors seeking to acquire Polygon should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, GDAX or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Polygon using one of the aforementioned exchanges.

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