Down 30%, Is This Crypto Now a Buy?
Polygon (CRYPTO: MATIC) may be down 30% for the year, but it's now trying to reinvent itself as "Polygon 2.0." In mid-September, Polygon Labs, the company behind the crypto token, announced the official kickoff of a new strategy that could fundamentally change the value proposition for Polygon and make it more attractive for investors.
The big question for investors, of course, is whether anything will actually change. Is this just a last-gasp effort to reverse the downward trajectory of a crypto token in free fall, or is this really the start of something new? Let's take a closer look.
First up, let's address the question of why Polygon Labs is choosing this moment to implement an ambitious strategic transformation. Despite all the marketing lingo about the need to create a new "value layer of the internet," it all comes down to one single concept: Polygon is in a lot of trouble right now.
Source Fool.com
