Polygon (MATIC) Reaches Market Capitalization of $5.27 Billion

Polygon (MATIC) traded up 2.3% against the U.S. dollar during the 24 hour period ending at 21:00 PM E.T. on May 24th. One Polygon coin can currently be bought for $0.66 or 0.00002236 BTC on popular cryptocurrency exchanges. Polygon has a market capitalization of $5.27 billion and approximately $486.63 million worth of Polygon was traded on exchanges in the last day. During the last seven days, Polygon has traded 9.1% lower against the U.S. dollar.

Here is how similar cryptocurrencies have performed during the last day:

  • BITCOIN ADDITIONAL (BTCA) traded 1.5% higher against the dollar and now trades at $29,620.87 or 0.99991031 BTC.
  • Binance USD (BUSD) traded up 0.1% against the dollar and now trades at $1.00 or 0.00003378 BTC.
  • Crypto.com Coin (CRO) traded up 5% against the dollar and now trades at $0.41 or 0.00001075 BTC.
  • Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 BTC.
  • DREP (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003398 BTC.
  • DREP [old] (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003399 BTC.
  • Dai (DAI) traded down 0% against the dollar and now trades at $1.00 or 0.00003377 BTC.
  • THETA (THETA) traded flat against the dollar and now trades at $5.25 or 0.00010640 BTC.
  • yOUcash (YOUC) traded 0% higher against the dollar and now trades at $0.50 or 0.00001689 BTC.
  • FTX Token (FTT) traded down 0% against the dollar and now trades at $29.80 or 0.00100599 BTC.

About Polygon

MATIC is a coin. It launched on March 26th, 2018. Polygon’s total supply is 10,000,000,000 coins and its circulating supply is 7,950,866,567 coins. The Reddit community for Polygon is https://reddit.com/r/maticnetwork and the currency’s Github account can be viewed here. The official website for Polygon is polygon.technology. Polygon’s official message board is medium.com/matic-network. Polygon’s official Twitter account is @maticnetwork.

According to CryptoCompare, “Matic provides scalable, secure and instant transactions using sidechains based on an adapted implementation of Plasma framework for asset security and a decentralized network of Proof-of-Stake (PoS) validators. In short, it allows anyone to create scalable DApps while ensuring a superior user experience in a secure and decentralized manner. It has a working implementation for Ethereum on Ropsten Testnet. Matic intends to support other blockchains in the future which will enable it to provide interoperability features alongside offering scalability to existing public blockchains. Matic Network is expanding tech scope and mission and becoming Polygon — Ethereum’s Internet of Blockchains. Existing Matic solutions remain functional and high priority. All the existing Matic solutions and implementations, primarily Matic PoS Chain and Matic Plasma Chains, remain fully functional and will continue to be developed and grown as very important components of the Polygon ecosystem. These implementations will not be impacted or changed in any way, and no action is required from developers or end-users. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.  See the official announcement. Polygon is a easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting two major types of solutions:Secured chains (aka Layer 2 chains): Scaling solutions that rely on Ethereum for security instead of establishing their own validator pool. Stand-alone chains (aka Sidechains): Sovereign Ethereum sidechains, normally fully in charge of their own security, i.e. with their own validator pool.”

Polygon Coin Trading

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

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