Crypto is everywhere nowadays. Everyone seems to understand the importance and follow the trend of investing in crypto. There are more than 21,000 cryptocurrencies in existence and over 130,000,000 tokens.
The leading technologies used to develop and grow new altcoins are based on the Bitcoin or Ethereum blockchains. Bitcoin has a limited number of tokens that the blockchain accepts. The limit is 21 million, and there are 19 million Bitcoin tokens in circulation.
Ethereum, however, offers an infinite supply. Currently, there are over 120 million tokens, and Polygon is one of them.
Meet Polygon
Polygon is developed on Ethereum’s blockchain, and its coin is MATIC. Like other newly made altcoins, it is a decentralized Ethereum scaling platform. This means that it also allows developers to build scalable, user-friendly dApps with minimal transaction fees and better security.
Simply said, this crypto is used as a cryptocurrency payment method for paying the network’s transaction fees.
Some of Polygon’s scaling protocols are:
- PoS
- zkEVM
- Avail
- Edge
- Zero
- Nightfall
- Miden
Where can you find Polygon?
You can invest in Polygon on every trading platform.
Its market capitalization is $624,690,227 USD at this moment and it has a $279,845,363 USD 24h volume. The token is limited, and the total supply of the MATIC token is 10,000,000,000, and over 8,040,000,000 MATIC tokens are already in circulation.
Polygon’s tokens are also divided into several functional categories on the market: 16% are team tokens, 12% are network tokens, 24% are in the ecosystem, and 4% are advisors. The remaining tokens are for the foundation.
Polygon’s potential
Every crypto enthusiast would like to know if Polygon is worth investing in. Some people and businesses consider it an excellent investment, and others are not convinced about that.
Many companies and high-profile businesses launched projects on Polygon. Meta, Adobe, fashion companies such as Dolce & Gabanna and Prada, and online casinos commenced future projects with this altcoin.
It might seem bizarre at first that a cryptocurrency caught the eye of the gambling industry. MATIC is an improved token with a low market cost. This reason attracted many online gambling establishments, such as The Draft Kings, to invest and accept it as a valid payment method.
Another reason is the functionality. Polygon is forked from Ethereum, and people have known how it works for quite some time now. Gamblers that wager with crypto are used to Ethereum and can change the coin easily. Naturally, casinos want to find suitable solutions to ensure their guests’ safety and fast payment methods.
Final thoughts – Is Polygon a suitable long-term investment?
Polygon has real potential to become one of the favourite coins in gambling and other industries. It is safer, faster to mine, and cheaper than Ethereum, but it works the same way, so people are drawn to it. It has promising potential and many projects and dApps to develop in the near future.
At the same time, Polygon, like every other cryptocurrency, is volatile. The price of MATIC will not surpass $1, as some experts say, but the volatility still happens.
Investors and the coin’s developers have numerous plans for the future, but nothing is granted. The token can lose its value, or even the Ethereum blockchain network can decline and drop its popularity rates. This affects every coin on that blockchain, including MATIC.
You can invest in Polygon and be updated daily about the new projects, the price, and how many tokens are in circulation. If you decide on buying a supply of MATIC, don’t forget the golden rule of crypto investments: Don’t put in more than you can afford to lose.
