Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Polygon MATIC Forum => Topic started by: Crypto Library on June 28, 2024, 02:17:40 PM
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I have created a similar topic to this topic in another forum. However I feel it would be better for me to have a discussion on this topic in this forum as well. I have already invested over $400 in Matic coin for long time holding.
As I said on the other forum I want to also say here, that most of the members here are aware of Matic or Polygon coins. And also know that there are many people who have positive thoughts about Matic coin. I myself have a positive opinion about Matic and I have been curious about it from the beginning.
Today I open this topic to get your opinion on Polygon(matic) do you see any positive side? And If you find positive thing on it then what's are they, For example: who is behind it, why the price may increase in the future, let's discuss.
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Polygon Matic has its own season of performance and this is just occasional, one thing that i have realized with this coin is the way it performs without being noticed or maybe i should say unexpected, it can rise and from there maintain a particular range for long as well as when it also dips, it may manage to stay there for a while before showing some significant tendencies of rising to perform well again.
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Honestly, Matic was one of the coins and networks that I liked at that time, especially since this coin really seemed able to compete with other projects that were almost the same. yes, but it turns out this is quite undervalued too. In fact, I think Matic will skyrocket like at least DOT and SOL. but in fact, it tends to be more like XRP, ADA, or TRX, the price movements are very slow. Who knows whether next season will last or not if you look at how this coin develops. I hope this isn't that bad.
Polygon Matic has its own season of performance and this is just occasional, one thing that i have realized with this coin is the way it performs without being noticed or maybe i should say unexpected, it can rise and from there maintain a particular range for long as well as when it also dips, it may manage to stay there for a while before showing some significant tendencies of rising to perform well again.
Yes, at that time, Matic had quite a significant performance, right? In fact, this project was also quite famous. It's just that competition is quite tight and in the end, it can't compete with some other big projects that are similar well enough. Therefore, Matic's journey was not that smooth. As time goes by, Matic's rank also drops, now he is at number 21, this is quite a drop too.
(https://talkimg.com/images/2024/07/04/otE9g.jpeg)
Matic reached its peak in December 2021 with its ATH of $2.92. But so far, the price is still quite difficult to increase. Only survives at a rate of $0.5 and around.
https://www.coingecko.com/en/coins/polygon
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Yes, at that time, Matic had quite a significant performance, right? In fact, this project was also quite famous.
The price is always linked to the high fees of Ethereum and the failure of the projects to be a cheaper alternative to managing smart contracts with cheaper fees, so you can compare the price of the token with UNISWAP or any DEX and the volume of transactions compared to the price, but inevitably the success of Ethereum in low fees really means that Matic, ADA and other projects will be a less value.
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My thinking about Polygon coins is too negative because I see the highest price of Polygon is:
All-Time High $2.92 (-88%)
Dec 27, 2021 (almost 3 years)
The current price is only around 0.37 and it is almost minus approaching -88%, to recover the price of Polygon is very difficult so I am also sure that for an increase like this it will take a very long time.
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I have created a similar topic to this topic in another forum. However I feel it would be better for me to have a discussion on this topic in this forum as well. I have already invested over $400 in Matic coin for long time holding.
As I said on the other forum I want to also say here, that most of the members here are aware of Matic or Polygon coins. And also know that there are many people who have positive thoughts about Matic coin. I myself have a positive opinion about Matic and I have been curious about it from the beginning.
Today I open this topic to get your opinion on Polygon(matic) do you see any positive side? And If you find positive thing on it then what's are they, For example: who is behind it, why the price may increase in the future, let's discuss.
Since Matic's polygon chain is already very popular, changing its name may have a negative impact on it temporarily, or a long-term investment may turn out to be good. So if you have already invested on it and are losing now then keep holding them atleast till you recover your loss or make a good profit. Hopefully when the crypto bull run starts it will also pump and then you can recover your losses as well as profit. I am not giving you financial advice but you can hold it patiently. Hope you get something good
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Since Matic's polygon chain is already very popular, changing its name may have a negative impact on it temporarily, or a long-term investment may turn out to be good. So if you have already invested on it and are losing now then keep holding them atleast till you recover your loss or make a good profit. Hopefully when the crypto bull run starts it will also pump and then you can recover your losses as well as profit. I am not giving you financial advice but you can hold it patiently. Hope you get something good
I think I have already gave an reply to your post on our local board about this. I am still recalling that they didn't just changed their name they also upgraded them from matic to POL Pos and which was also supported by the binance I thought they will gonna delisted it forever but surprisingly they support to the POL pos.
Even then they were failed to recover and if we look at the whole altcoins markets then most of the altcoins are struggling for recover let's see now can I recover in the next bull season or not. Yet I have no plan to invest on this shi* right now.
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
Indeed, yesterday I had hoped for a price change after Matic changed to POL, but now it seems like that hope is gone again because there are no other changes and it does not have much effect on price developments in the market.
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
It will be very difficult for Matic to rise especially since Ethereum fees are getting lower and there is fierce competition from L2 tokens in addition to some blockchains like SOL doge so the token may increase in value against the dollar but it is difficult for this to happen with BTC ETH SOL pairs.
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I have already invested over $400 in Matic coin for long time holding.
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400 dollars investment in Polygon coin, I believe it is a large value because I do not necessarily have capital worth that and if I have 400 dollars, maybe not all of it will be invested because I am afraid that the Polygon coin price will Dump. Maybe I will use 100 dollars to buy Polygon coins and 300 dollars to backup Polygon when the price Dumps to -50% of the price when I bought it with 100 dollars.
I see the potential of Polygon coins, it seems from ETH L2 because I have seen that ETH L2 transactions on the Polygon chain are very cheap, very different from ETH L1 transaction fees so this adoption will make Polygon a potential coin.
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400 dollars investment in Polygon coin, I believe it is a large value because I do not necessarily have capital worth that and if I have 400 dollars, maybe not all of it will be invested because I am afraid that the Polygon coin price will Dump. Maybe I will use 100 dollars to buy Polygon coins and 300 dollars to backup Polygon when the price Dumps to -50% of the price when I bought it with 100 dollars.
I see the potential of Polygon coins, it seems from ETH L2 because I have seen that ETH L2 transactions on the Polygon chain are very cheap, very different from ETH L1 transaction fees so this adoption will make Polygon a potential coin.
Yes, Eth l2 transaction on polygon network was very low and that is the one main reason the polygon coin is my favourite. And that is why I though may this coin will have the e bright future but seem the idea was wrong they were just falling and falling currently my investment on polygon becomes only about 267$ from 400+$ .
Even then I am not feeling better about holding this polygon coin but I don't want to sell this on loss so I will hold to the next bull season.
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400 dollars investment in Polygon coin, I believe it is a large value because I do not necessarily have capital worth that and if I have 400 dollars, maybe not all of it will be invested because I am afraid that the Polygon coin price will Dump. Maybe I will use 100 dollars to buy Polygon coins and 300 dollars to backup Polygon when the price Dumps to -50% of the price when I bought it with 100 dollars.
I see the potential of Polygon coins, it seems from ETH L2 because I have seen that ETH L2 transactions on the Polygon chain are very cheap, very different from ETH L1 transaction fees so this adoption will make Polygon a potential coin.
Yes, Eth l2 transaction on polygon network was very low and that is the one main reason the polygon coin is my favourite. And that is why I though may this coin will have the e bright future but seem the idea was wrong they were just falling and falling currently my investment on polygon becomes only about 267$ from 400+$ .
You are experiencing a minus of up to 133 dollars, did you buy Polygon coins when the price was above 0.5 dollars? Because I noticed that Polygon coins are currently priced at around 0.36 dollars.
Even then I am not feeling better about holding this polygon coin but I don't want to sell this on loss so I will hold to the next bull season.
Your mentality is very strong and you definitely have extensive experience regarding Polygon coins so you dare to hodL Polygon until the price goes up again. Btw, what price target will you sell Polygon coins for take profit?
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400 dollars investment in Polygon coin, I believe it is a large value because I do not necessarily have capital worth that and if I have 400 dollars, maybe not all of it will be invested because I am afraid that the Polygon coin price will Dump. Maybe I will use 100 dollars to buy Polygon coins and 300 dollars to backup Polygon when the price Dumps to -50% of the price when I bought it with 100 dollars.
I see the potential of Polygon coins, it seems from ETH L2 because I have seen that ETH L2 transactions on the Polygon chain are very cheap, very different from ETH L1 transaction fees so this adoption will make Polygon a potential coin.
Yes, Eth l2 transaction on polygon network was very low and that is the one main reason the polygon coin is my favourite. And that is why I though may this coin will have the e bright future but seem the idea was wrong they were just falling and falling currently my investment on polygon becomes only about 267$ from 400+$ .
You are experiencing a minus of up to 133 dollars, did you buy Polygon coins when the price was above 0.5 dollars? Because I noticed that Polygon coins are currently priced at around 0.36 dollars.
Yeap you did the correct guessing because I have done the investment in two phase one in around 0.67 and the second one is when the matic was in around 0.56. And yes it is now around 0.36 dollars I have been minus of more than 133 dollar :")
Your mentality is very strong and you definitely have extensive experience regarding Polygon coins so you dare to hodL Polygon until the price goes up again. Btw, what price target will you sell Polygon coins for take profit?
I think there was no others way to get out from this so we have to made the strong even we are seeing our assets decreasing. And about the target price before the invest the target was above two dollar now I think I will release it if it touch the 1.5$
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
It will be very difficult for Matic to rise especially since Ethereum fees are getting lower and there is fierce competition from L2 tokens in addition to some blockchains like SOL doge so the token may increase in value against the dollar but it is difficult for this to happen with BTC ETH SOL pairs.
Indeed, it seems that Polygon will be much more difficult to survive if they do not provide clear development, as well as efforts from its developers to promote or make POL better known and used again. not only Ethereum is its toughest competitor but for now, Solana, BNB, and TON too. and they have much more significant development and progress. they are also supported by parties who do have names and influence. while Polygon is still quite doubtful when compared to others. that's why it will be difficult to rise again if it continues like this.
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Indeed, it seems that Polygon will be much more difficult to survive if they do not provide clear development, as well as efforts from its developers to promote or make POL better known and used again. not only Ethereum is its toughest competitor but for now, Solana, BNB, and TON too.
They have redefined the brand and done everything *easy* possible but to have continued liquidity you need to have continued development, Matic got stuck in the low fees bracket and the market has passed that stage.
I think there is not much that can be done, they need to do something in the coming months or accept that the project will slowly die.
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Indeed, it seems that Polygon will be much more difficult to survive if they do not provide clear development, as well as efforts from its developers to promote or make POL better known and used again. not only Ethereum is its toughest competitor but for now, Solana, BNB, and TON too.
They have redefined the brand and done everything *easy* possible but to have continued liquidity you need to have continued development, Matic got stuck in the low fees bracket and the market has passed that stage.
I think there is not much that can be done, they need to do something in the coming months or accept that the project will slowly die.
I thought that after the re-branding from Matic to POL, it would make the market of this coin better, but it turned out not to be. only a temporary increase in the price of the coin which eventually also fell again following the market, and until now the price is still in that range. Indeed, Polygon needs more than that, because of the tight competition in the crypto world, but if no one can really boost the development, well, it's just a matter of time before investors start to get tired of this one coin. This has happened to many altcoins before, and it continues to repeat itself.
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I'm quite dizzy when thinking about Matic. What is its potential, in the past I thought that this coin could compete with BNB and ETH, because at that time it was really hype with their network costs which were indeed very cheap and fast. but yes, so far, its development has been very slow. while there are several other top projects that do have the same real use or are even more developed as its competitors. that's why they can rise quickly, while Matic which has now migrated to POL is still in that line without anything interesting further. if it's like this, do we still have high hopes for Matic or POL?
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
Indeed, yesterday I had hoped for a price change after Matic changed to POL, but now it seems like that hope is gone again because there are no other changes and it does not have much effect on price developments in the market.
Is this the end of our wait for POL to return to $1? That's enough for me right now, even though there are still many losses, but at least 1/2 of my capital can be returned. I am very grateful for this POL coin. You are right, the possibility and hope for this coin is small.
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
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Is this the end of our wait for POL to return to $1? That's enough for me right now, even though there are still many losses, but at least 1/2 of my capital can be returned. I am very grateful for this POL coin. You are right, the possibility and hope for this coin is small.
If the price of POL returns to $1, then your capital will return with an average of 1/2 of all the capital purchased from POL coins. That means you bought this POL coin at a price of $2, are you serious about buying POL coins at a price of $2?
Why are you sure and brave enough to buy POL coins at a price of $2?
If I were in your position at that time, I would not be sure to buy POL coins at a price of $2 because the supply of POL coins is more than 10 billion and this is so much.
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
Indeed, yesterday I had hoped for a price change after Matic changed to POL, but now it seems like that hope is gone again because there are no other changes and it does not have much effect on price developments in the market.
Is this the end of our wait for POL to return to $1? That's enough for me right now, even though there are still many losses, but at least 1/2 of my capital can be returned. I am very grateful for this POL coin. You are right, the possibility and hope for this coin is small.
I just checked the market again and it turns out that the current POL price is $0.2198, just want to laugh out loud very hard. Even after holding this for several years, the fact is that this coin has no hope, as if there is no hope anymore.
But what can I do, now there is no other way, I can only hold it. My last hope is when the altcoin season comes, no matter what the price is I will sell it, I don't want to hold this coin any longer anymore, it's been quite a while for the past few years.. and this is a big lesson for me.
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In fact and honestly I had high hopes for this coin. Even investing money in this coin and holding them for several years. But in fact, this coin could not grow like other top coins. In fact, it actually declined, just imagine it has decreased by more than 200% since my purchase at that time. and now it seems like there is no hope.
Indeed, yesterday I had hoped for a price change after Matic changed to POL, but now it seems like that hope is gone again because there are no other changes and it does not have much effect on price developments in the market.
Is this the end of our wait for POL to return to $1? That's enough for me right now, even though there are still many losses, but at least 1/2 of my capital can be returned. I am very grateful for this POL coin. You are right, the possibility and hope for this coin is small.
I just checked the market again and it turns out that the current POL price is $0.2198, just want to laugh out loud very hard. Even after holding this for several years, the fact is that this coin has no hope, as if there is no hope anymore.
But what can I do, now there is no other way, I can only hold it. My last hope is when the altcoin season comes, no matter what the price is I will sell it, I don't want to hold this coin any longer anymore, it's been quite a while for the past few years.. and this is a big lesson for me.
At one time Matic performed very well and was a very good price. But since Matic changed its name to Pol, its price has only gone down. A while ago Matic was my favorite point but now I smile every time I check its price. And I think it will not do well in the market anymore. Many compare Pol with ADA, NEAR, SUI. But I see POL only slowly dying out of the market. Now Bitcoin is in a very good position due to which this period can be called the BULL season of the market. And since the price of Pol has fallen so much this time, it makes me smile to think how it might fare when the market turns bad condition.