Polygon: As MATIC prices dwindle, should you buy the dip

February 10, 2024

By Himalay Patel

Edited By: Ann Maria Shibu

• Despite Polygon’s success, MATIC lagged amidst the crypto uptrend.

• Polygon’s shift to ZK-tech could reshape MATIC’s future, boosting sentiment.

Despite the widespread success of the Polygon [MATIC] network in several areas over the past few months, its native token did not experience the same level of growth

Staying behind

Crypto has seen a rise of around 100% since the onset of 2023, with MATIC standing out as a notable exception to this positive trend. MATIC has lagged behind its counterparts as focus has shifted elsewhere.

Currently, it trails in circulating market cap behind Polkadot, Tron, Avalanche, and Cardano. This could negatively impact investor sentiment, as assets with stronger growth potential are often favored.

Additionally, in terms of fully diluted valuation (FDV), it fell behind Optimism and Arbitrum.

For context, FDV refers to the theoretical maximum valuation of a cryptocurrency or token if all of its available tokens were in circulation. It takes into account the total supply of tokens, including those that may be held by the project team, investors, or reserved for future releases.

A lower FDV suggests that the perceived potential of MATIC, considering its total token supply, is not as high as some competitors.

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