Polygon, formerly known as Matic Network, is a Layer 2 scaling solution for Ethereum, designed to enhance transaction speed and reduce costs while maintaining security and compatibility with Ethereum’s ecosystem. Its native token, POL (previously MATIC), is an ERC-20 token used for transaction fees, staking, and governance within the Polygon network. Polygon operates as a sidechain, processing transactions off Ethereum’s main chain and committing them periodically via checkpoints, enabling up to 65,000 transactions per second with low gas fees. It supports a wide range of decentralized applications (dApps), including DeFi, NFTs, and gaming, and is backed by major players like Binance and Coinbase.

As of August 19, 2025, the price of POL is approximately $0.25 USD, with a 24-hour trading volume of around $1.26 million and a market cap of about $2.6 billion, ranking it among the top cryptocurrencies. The total supply is capped at 10 billion tokens, with a deflationary mechanism burning a portion of transaction fees. Polygon’s ecosystem has grown significantly, with a total value locked (TVL) of $3.24 billion, and it supports over 7,000 dApps. Recent developments include the transition from MATIC to POL as the native token in September 2024 and a focus on zero-knowledge (ZK) scaling solutions like zkEVM.

Sentiment on platforms like X is mixed but leans bullish, with posts highlighting Polygon’s growth in real-world assets and AI integration, though some express concerns about past financial management or network issues. For investment, POL can be purchased on exchanges like Coinbase, Binance, or Kraken, or via decentralized exchanges like Uniswap. Staking POL offers rewards, with validators requiring a minimum of 10,000 tokens and an unbonding period of 2-3 days. Always approach crypto investments cautiously, as they are highly volatile, and only invest what you can afford to lose.