On Friday (April 30), on crypto exchange FTX, the Polygon ($MATIC) price broke $0.9400, hitting a new all-time high of $0.9479 at 00:28 UTC.
Currently (as of 10:00 UTC on April 30), $MATIC is trading around $0.8898, which means that it is up 10.30% in the past 24-hour period.
As for $MATIC’s year-to-date (YTD) performance, MATIC-USD is up an incredible 4955.68%.
Polygon is “a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.”
Here is the current status of the project:
Some of the many crypto projects that are using Polygon’s framework are Polymarket, Decentral Games, EasyFi, and The Graph.
$MATIC had its initial exchange offering (IEO) on Binance Launchpad in April 2019.
Yesterday (April 29), Gregor Zupanc, Co-Founder and CEO at crypto-focused investment firm Solidum Capital, said that thanks to $MATIC’s price action, as of 14:18 UTC, $MATIC had become the largest component of their portfolio:
— Gregor Zupanc (@gregzupanc) April 29, 2021
Solidum Capital’s second-largest holding is Ethereum ($ETH). Zupanc seems highly bullish on Polygon since he believes that $MATIC is “on its way to the top 10 by market cap.”
On Tuesday (April 27), Alex Svanevik, Co-Founder and CEO at blockchain analytics firm Nansen, shared some data that indicates that Polygon’s transaction volume is catching up with Ethereum’s transaction volume:
NOTE: This doesn't include internal transactions, so especially the ETH number is somewhat understated.
— Alex Svanevik 🧭 (@ASvanevik) April 27, 2021