Is It Time to Sell Polygon?
Polygon (CRYPTO: MATIC) started the year off with a bang. Through mid-February, Polygon had doubled, from $0.75 to $1.50. But the last six months have been an entirely different story, with Polygon giving up all of its gains and more. Currently trading at about $0.64, Polygon is now down 15% for the year.
Several recent developments have fundamentally changed the way investors view this crypto, and that has resulted in a rethinking of Polygon's upside potential. Let's take a closer look to see if there is cause for concern about Polygon's recent performance.
Polygon is a Layer-2 scaling solution for Ethereum (CRYPTO: ETH), the second-largest cryptocurrency in the world. In lay terms, it means that Polygon helps the Ethereum blockchain run faster, cheaper, and more efficiently. And it also means that Polygon's growth is directly tied to Ethereum's growth. For investors, that's actually a very attractive value proposition, and one key reason I've been bullish on Polygon for over a year. There's clear utility in what Polygon offers, and it is arguably still the best-in-class Layer-2 scaling solution on the market.
Source Fool.com
