Polygon (MATIC) Price

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What Is Polygon (MATIC)?

Polygon is a Layer 2 scaling solution designed to enhance the Ethereum blockchain's performance. Ethereum, despite its popularity, faces challenges with speed and transaction costs. To counter these issues, Polygon processes transactions off the primary Ethereum chain, promising faster and more cost-effective results. By doing so, it improves Ethereum's scalability and transaction speed.Think of Polygon as a swift parallel blockchain that operates alongside the primary Ethereum blockchain.  

Polygon evolved from the Matic Network, which was originally designed as a Layer 2 Plasma-based scaling solution for Ethereum. However, with the expansion of its vision and capabilities, Matic rebranded to Polygon.

Polygon operates using its unique version of Proof-of-Stake (PoS) to amplify Ethereum's efficiency. It boasts the capacity to handle up to 65,000 transactions per second at a minimal fee, merely a fraction of a cent.

In March 2023, Polygon launched the beta mainnet for its scaling solution, Polygon zkEVM with plans to unify its PoS chain with zkEVM Layer 2 as part of its Polygon 2.0 overhaul. MATIC is the native token of the Polygon network, used for staking and gas fees, but this will soon be replaced by POL, a third-generation token proposed by Polygon Labs.

How Does Polygon Work?

Polygon's strategy ensures efficient transaction processing. It utilizes the foundational technology of the Ethereum blockchain but offers reduced fees. To achieve this, Polygon takes transactions from the Ethereum network to its sidechains. By taking transactions away from the main Ethereum chain, Polygon lightens the load on Ethereum, resulting in improved speed and performance.

The Polygon network employs the Polygon PoS consensus mechanism. This system leans on validators, individuals who stake MATIC tokens to fortify the network and authenticate transactions. These validators alternate roles in suggesting and verifying new blocks, with their influence dictated by their stake amount.

Polygon PoS 

Polygon's PoS chain is a standalone chain, EVM-compatible, and connected to the Ethereum mainnet. This is done through regular "checkpoints" where a representative state of the PoS chain is submitted to Ethereum.

There are two primary roles in the PoS consensus mechanism:


These nodes are responsible for proposing and validating new blocks. To become a validator, a node must stake a certain amount of MATIC tokens. This staked amount acts as collateral, ensuring good behavior. If they act maliciously, their stake can be slashed (taken away).


If someone doesn't want to run a validator node but still wishes to participate in the consensus process, they can delegate their MATIC tokens to an existing validator. This means they're essentially "voting" for a particular validator and will earn rewards (and face risks) based on the validator's performance.

Source & Copyright: Polygon's Documentation

Periodically (every few minutes), a set of validators will submit a checkpoint to the Ethereum mainnet. The checkpointing ensures that even if something were to go wrong with the PoS chain, the state anchored on the Ethereum mainnet can act as a reference to revert or recover. This mechanism leverages the security of Ethereum, ensuring that assets on the PoS chain are as secure as they are on Ethereum itself.

To incentivize participation validators earn rewards for block production and for submitting valid checkpoints to the Ethereum mainnet. Delegators earn a portion of the rewards earned by their chosen validator, proportional to their delegated stake.

Source & Copyright: Polygon 

Polygon Bridge 

One of the fundamental features of Polygon is its bridging mechanism that allows assets to be moved between Ethereum and Polygon. When a user wants to move assets from Ethereum to Polygon, they deposit those assets into a smart contract on Ethereum. These assets are then minted on the Polygon side and can be used in its ecosystem. When moving assets back to Ethereum, the process is reversed: the assets are burned on Polygon and released from the Ethereum smart contract.

Polygon SDK

In May 2021, the Polygon network announced the release of the Polygon Software Development Kit, which simplifies the process of creating a multichain network for developers. Using the Polygon SDK, developers are able to build decentralized chains that are solely liable for their own security. The SDK is designed to be highly modular. This gives developers the flexibility to pick and choose specific modules for their chain, whether it's consensus algorithms, governance mechanisms, or others. This modularity allows for tailored blockchain solutions.

Polygon zkEVM

The Polygon zkEVM employs a ZK-Rollup structure, utilizing zero-knowledge proofs to offer a superior Layer 2 solution atop Ethereum.

In essence, zkEVM is Polygon's answer to scaling, making Ethereum transactions quicker, more secure, and cost-effective. It merges zk rollup validation tech with Ethereum's virtual machine, achieving remarkable block verification speeds.

To put it simply, zkEVM integrates the ZK rollup approach with the Ethereum Virtual Machine (EVM) to create a distinctive scalability solution. It stands out as a leading solution in addressing Ethereum's scalability challenges.

In simpler terms, ZK rollups handle blockchain transactions off-chain, significantly easing the computational burden on EVM. They employ a unique transaction validation method, needing only a small data snippet for verification.

Source & Copyright: Polygon

Imagine 10,000 Ethereum users transacting simultaneously. Without ZK rollups, only a handful would be processed instantly, leaving many waiting. This delay increases gas fees and user frustration. But with ZK rollups, transactions are batched and processed externally, resulting in faster times and reduced gas fees.

The fusion of zero-knowledge protocols with Ethereum's computational giant results in unmatched scalability and efficiency. zkEVM processes thousands of transactions in one go, saving countless user hours daily.

This efficiency translates to reduced gas prices. zkEVM consistently cuts gas fees by over 90%, enabling users to transact more without worrying about exorbitant fees.

Who Are the Founders and Investors of Polygon?

Polygon, previously known as Matic Network, was established in October 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. This trio consists of two seasoned blockchain developers and a business strategist.

Before launching their own network in 2019, the Polygon team made significant contributions to the Ethereum ecosystem. They were instrumental in developing the Plasma MVP, the WalletConnect protocol, and the popular Dagger event notification system for Ethereum.

A notable member of the team is co-founder Jaynti Kanani, who is not only a proficient full-stack developer and blockchain engineer but also the current CEO of Polygon. Jayanti was pivotal in the development of Web3, Plasma, and the WalletConnect protocol on Ethereum. Before diving into the blockchain world, he held a position as a data scientist at Housing.com.

Another co-founder, Sandeep Nailwal, who is the COO of Polygon, is a skilled blockchain developer and entrepreneur. Before co-founding Polygon, Sandeep held leadership roles as the CEO of Scopeweaver and the CTO of Welspun Group.

Lastly, Anurag Arjun, the only co-founder without a programming background, brings a wealth of experience as a product manager. He has worked with several companies, including IRIS Business, SNL Financial, Dexter Consultancy, and Cognizant Technologies.

Initially, the venture was supported by contributions from friends and family in Mumbai.However, even though Polygon originated in India, it has garnered interest from international investors. In 2019, the platform secured more than $450,000 through two rounds of initial funding. To date, the venture has amassed approximately $450 million from diverse investors. Prominent supporters of Polygon include angel investor Balaji Srinivasa and billionaire Mark Cuban.

What Is Polygon Matic Price Today?

The current MATIC price is $ 0.716712 with a 24-hour trading volume of $502,757,426. 

Source & Copyright: TradingView

What Is the All-time High for Polygon MATIC?

MATIC's price hit an all-time high of $$2.92 in December 2021, the same year after the project underwent a major rebranding from Matic Network to Polygon Network.

Polygon saw a significant increase in adoption, with numerous decentralized applications (DApps) choosing to build on or migrate to its platform. MATIC tokens became more accessible to a wider audience with additional listings on major cryptocurrency exchanges.

Another reason for the bullish price action for Polygon has been increased interest from institutional investors. Big names in the crypto space, such as Mark Cuban, showed interest in and supported Polygon.

During 2021 the broader cryptocurrency market was experiencing a bull run. Investor sentiment was highly positive, and there was a lot of speculative trading and investment across various cryptocurrency assets.

What Is the All-time Low for Polygon MATIC?

Polygon (MATIC) reached its all-time low shortly after its initial listing on exchanges. The token hit its lowest point on May 10, 2019, when it was priced at approximately $0.003012. MATIC tokens were not widely available on major cryptocurrency exchanges at that time, limiting access for potential buyers.

Polygon (then Matic Network) was a relatively new project, and there was limited awareness about its potential and functionalities. The broader crypto community was not as familiar with Layer 2 scaling solutions, and the demand for such solutions was low.

The cryptocurrency market was in a bear phase during this period, following the 2017-2018 crypto boom.

What is the Market Cap of Polygon MATIC?

MATIC currently has a market capitalization of $6,699,295,917. There are 9,282,943,566 of MATIC in circulation. 

How and Where to Buy Polygon MATIC?

There are two ways you can buy MATIC: on CEX and DEX 

Buying MATIC on a Centralized Exchange (CEX)

Step 1: Choose a Reputable CEX

Popular options include Binance, Coinbase, Kraken, and Huobi. Ensure the exchange lists MATIC and accepts users from your country.

Step 2: Create and Verify Your Account

Sign up for an account with your email address or phone number. Complete the required Know Your Customer (KYC) verification process.

Step 3: Deposit Funds

Deposit fiat currency via bank transfer, credit/debit card, or other available methods. Take note of any deposit fees and processing times.

Step 4: Buy MATIC

Navigate to the trading section and select the MATIC trading pair with your deposited fiat. Choose the type of order (market, limit, etc.), input the amount of MATIC you wish to purchase, and confirm the order.

Buying MATIC on a Decentralized Exchange (DEX)

Step 1: Set Up a Cryptocurrency Wallet

Choose a wallet that supports the Polygon network, such as MetaMask. Install the wallet and set it up securely.

Step 2: Add the Polygon Network

Ensure your wallet is configured to interact with the Polygon network. You may need to add it manually.

Step 3: Fund Your Wallet

Transfer MATIC or other supported tokens to your wallet. Make sure to have some MATIC for gas fees.

Step 4: Choose a DEX on the Polygon Network

Popular DEXs on Polygon include Uniswap and SushiSwap. Navigate to the official website of the DEX.

Step 5: Connect Your Wallet

Click on “Connect Wallet” and select your wallet from the options. Follow the prompts to connect.

Step 6: Swap Tokens for MATIC

Select the trading pair (e.g., USDC/MATIC) and enter the amount you wish to swap. Confirm the details, including fees, and execute the swap.

Step 7: Confirm the Transaction in Your Wallet

A prompt will appear in your wallet to confirm the transaction. Review the details and confirm.

How to Sell MATIC Coin?

Similarly you can sell your MATIC either of CEX or DEX

Part 1: Selling MATIC on a Centralized Exchange (CEX)

Step 1: Choose a Reputable CEX

Ensure the exchange supports MATIC and accepts users from your country.

Step 2: Access Your Account

Log in to your account on the exchange. If you don't have an account, you'll need to create one and complete the necessary KYC verification process.

Step 3: Deposit Your MATIC

If your MATIC tokens are not already on the exchange, deposit them from your wallet. Navigate to the deposit section, select MATIC, and follow the instructions to get a deposit address. Transfer your MATIC from your wallet to this address.

Step 4: Sell MATIC

Go to the trading section of the exchange. Select the MATIC trading pair with the currency you wish to receive ( for example MATIC/USD). Choose the type of order (market, limit, etc.), enter the amount of MATIC you wish to sell, and confirm the order.

Part 2: Selling MATIC on a Decentralized Exchange (DEX)

Step 1: Ensure Your Wallet is Set Up

Ensure you have a cryptocurrency wallet that supports the Polygon network. Your MATIC tokens should be in this wallet.

Step 2: Choose a DEX on the Polygon Network

Navigate to a DEX that supports the Polygon network, such as QuickSwap or SushiSwap.

Step 3: Connect Your Wallet

Click on “Connect Wallet” on the DEX’s website. Select your wallet from the options provided and follow the prompts to connect.

Step 4: Swap MATIC for Another Token

Select the trading pair in the swap section ( for example MATIC/USDT if you want to receive USDT). Enter the amount of MATIC you wish to sell. The equivalent amount of the other token will be displayed. Review the transaction details, including any fees and slippage settings.

Step 5: Confirm the Transaction

Confirm the transaction in your wallet when prompted. Wait for the transaction to be processed on the Polygon network.

Is Polygon MATIC Legit?

Polygon exhibits many characteristics of a legitimate and promising project in the blockchain space.

Polygon has a comprehensive whitepaper and extensive documentation. Their technology is open-source, allowing for transparency and community contributions.

Polygon takes security seriously, with regular audits and a bug bounty program to encourage the identification and fixing of potential vulnerabilities.

The Polygon team is actively developing and improving the network, as seen in their GitHub repository and official communications. They provide regular updates on development progress, partnerships, and other important news.

Polygon maintains active communication channels, including social media and community forums, ensuring transparency and accessibility.

Polygon has formed partnerships with various prominent projects and companies in the crypto space. Many developers have chosen to build on Polygon due to its scalability and low transaction costs.

The MATIC token is widely available across various exchanges, providing liquidity for traders and investors.

What Makes Polygon Unique?

Polygon stands out in the blockchain space with its innovative approach to scaling and infrastructure development for the Ethereum network. It uniquely offers a multi-chain system, operating alongside the Ethereum main chain, providing developers with the flexibility to build and scale their decentralized applications efficiently.

The network utilizes a modified version of the Plasma framework, along with Proof-of-Stake (PoS) side chains, to achieve faster transaction speeds and lower fees, while still ensuring asset security. 

With a strong focus on user experience and developer support, Polygon provides comprehensive SDKs and tools, making it easier for developers to create scalable and user-friendly dApps.

How to Keep Your Polygon MATIC Safe?

To begin, utilize reputable and secure wallets that support the Polygon network, such as MetaMask or hardware wallets like Ledger and Trezor, which provide an additional layer of security. 

Ensure that your wallet's software is always up to date, and activate all available security features, including two-factor authentication (2FA). Be cautious of phishing attacks by verifying website URLs before entering your wallet details, and never share your private keys or recovery phrases with anyone.

Regularly back up your wallet’s recovery phrase in a secure and offline location, separate from your primary residence, to mitigate the risk of loss due to unforeseen events. 

Additionally, when transacting, double-check recipient addresses and be mindful of the network fees to prevent paying exorbitant transaction costs.

For substantial amounts of MATIC, consider utilizing a hardware wallet for cold storage, and only connect it to your computer when necessary. 

Pros and Cons of Polygon

Pros Cons
High transaction throughput, significantly reducing congestion and increasing speed Despite its scalability solutions, Polygon’s performance is still partially dependent on the Ethereum mainnet
Compared to Ethereum, Polygon provides much lower transaction fees Like any blockchain platform, Polygon is not immune to smart contract vulnerabilities, 
Polygon leverages the security of the Ethereum network Configuring wallets for Polygon may be less straightforward for non-technical users
Developers can easily migrate their Ethereum-based dApps to Polygon  Due to high competitiveness newer, potentially more efficient scaling solutions are continually emerging
Polygon offers a range of developer tools and SDKs The price of MATIC is subject to market volatility like any other crypto token 


Polygon Network is a multi-faceted blockchain platform designed to provide scalable and efficient solutions for Ethereum, aiming to alleviate its congestion and high transaction costs while maintaining a strong level of security. Leveraging a unique multi-chain architecture that operates alongside the Ethereum main chain, Polygon enables developers to build and deploy decentralized applications with much higher throughput and lower fees, without sacrificing the robust security guarantees of Ethereum. The platform supports various scaling solutions, including side chains and layer-2 solutions, making it versatile and adaptable to different use cases.

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