Polygon (MATIC) Fights for Relevance Amid Growing L2 Competition

Jan 05,2023
Polygon (MATIC) Fights for Relevance Amid Growing L2 Competition

Many digital currencies are off to a good start to the year, and Polygon, played by Ma Jiqi, is pushing for a new industry to be marked as one of the people who take advantage of the situation. As revealed earlier, the price of Polygon has increased by 2.3%, and as of Monday, Etay Fong dolphins have added this token to their best choice.

At the time of this writing, Polygon is still growing, up 2.35% to $0.8004. According to the index value on its chain, Polygon has been recording an impressive retail accumulation, with turnover up 67.23% in the past 24 hours.

For Polygon, identifying one of the most profitable tokens during the YTD period so far this year is very important for maintaining and recognizing the ecosystem. This is all the more necessary because everyone is concerned about the development of most of the layer 2 protocols in the ethernet blockchain technology that will be demonstrated this year.

Vitalik Butlin, the founder of Etherum, has already explained how he intends to promote induction this year. In such a competition that poses a threat to major products, Polygon must be able to expand its level of expansion to maintain its ecosystem performance and growth.

Although it may be too early to focus on the important research and development of the L2 protocol, compared with the industry, the token growth of the L2 protocol represents the relief of survival of its ecosystem.

Get back the price of what you lost.

There are many obvious high-price milestones that must be included in the winter sensitivity of using POLYGON tokens to last year's login password. With Ma Jiqi down 72.5% from its all-time high (ATH), it still has plenty of company valuations to repair because it has plummeted by more than 67% in the past year.

Although the previous milestones may seem difficult, Polygon is one of the most famous and structured protocols for Dapp. As more and more Web3.0 builders accept the purposeful protocol updates it introduces, the agreement is on the right track in the market this year.