On the year-to-date basis (Jan 1- August 13, 2021), it has yielded gains of ~73x, while this also takes into account the disastrous crash in the month of May.
Polygon (formerly known as Matic), is the ultimate torchbearer of the Payments sector in the DeFi ecosystem. In the last 90 days, the Total Value Locked on Polygon has drastically increased from ~$2.44 Bn to ~$5.33 Bn, the incredible growth of ~130% (This incorporates the plunge in TVL due to the market crash). With the increasing trend of porting of DeFi and NFT protocols from other chains to Polygon due to insanely minimal gas fees and lightning-fast transactions, Polygon is set to disrupt the DeFi ecosystem.
On the Daily Time Frame, since July 26, Matic has been consolidating in a range and has given a breakout on Aug 11. The support to the lower side is present at $1.25 followed by $1.15 while it may face resistance at the levels of $1.7 and $1.9 respectively.
Polygon (formerly known as Matic), is the ultimate torchbearer of the Payments sector in the DeFi ecosystem. In the last 90 days, the Total Value Locked on Polygon has drastically increased from ~$2.44 Bn to ~$5.33 Bn, the incredible growth of ~130% (This incorporates the plunge in TVL due to the market crash). With the increasing trend of porting of DeFi and NFT protocols from other chains to Polygon due to insanely minimal gas fees and lightning-fast transactions, Polygon is set to disrupt the DeFi ecosystem.
On the Daily Time Frame, since July 26, Matic has been consolidating in a range and has given a breakout on Aug 11. The support to the lower side is present at $1.25 followed by $1.15 while it may face resistance at the levels of $1.7 and $1.9 respectively.