Polygon, originally known as the Matic Network, launched in 2017 during the last crypto market bull run.
With the Ethereum network currently seeing congested traffic and high gas fees, Polygon is seen as a solution by offering a PoS ahead of Etheruem’s proposed future upgrades, leading many users to consider buying due to both its fundamental strengths and recent price rise.
Polygon has also seen a 50% increase in trading volume as new traders flood the market and add greater liquidity.
The recent uptick combined with Polygon’s fundamental strengths is leading traders to consider buying Polygon at its current price.
Where to buy Polygon
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.
What makes Polygon unique? Is it a good buy?
Polygon can be seen as an adage to Ethereum – the second largest cryptocurrency by market cap – as it boosts the scalability and feasibility of using decentralised apps (dApps).
Polygon offers lower costs to developers for creating dApps using its own “Plasma Network”, which can then be pushed onto the Ethereum mainnet easily.
The cryptocurrency market is currently in an accumulation stage according to a number of analysts. So this may be a good time to stock up on coins while their prices are relatively low with a few to hold them for the long term and see where they end up in a few months/in a year.