Many cryptos continue to show remarkable performance despite volatility and significant declines. This is the case of Polygon, whose native token, POL, reached an all-time low at $0.34. Such a decline in price, which represents a fall of 45.65% since the start of the year, further worries investors. However, behind this apparent decline lies a solid infrastructure, supported by booming sectors like DeFi and gaming.
Fall in the price of POL: sinister figures, but multiple causes
The price of Polygon’s POL token fell to its lowest level since 2021, at $0.34. This drop attracted the attention of market investors, in particular because of its scale: a loss of 15.56% over the last month, and 45.65% since the start of the year. According to available data, this decline is accompanied by a fall of 36.58% in the volume of transactions on the futures market, while open positions also fell by 2.57%. Despite the increased interest in the solutions offered by Polygon, this decline calls into question the token's ability to regain its past vigor.
This decline in price is partly explained by an unfavorable macroeconomic environment, marked by a general decline in cryptos. The decline in trading volume and the decrease in open positions also illustrate a growing disinterest of investors in POL futuresin the short term at least. However, some voices in the industry are expressing cautious optimism, and counting on more favorable market conditions to revive POL momentum. For now, the observation is clear: Polygon is going through a difficult phase in terms of its native token.
A robust ecosystem, even under pressure
If the price of the POL token is in free fall, the Polygon ecosystem nevertheless continues to stand out for its performance in several key sectors. Total Value Locked (TVL) remains robust, in particular thanks to DeFi platforms like AAVE, which bring stability and credibility to the network. At the same time, the gaming sector on Polygon is experiencing notable growth with projects like Hunter On-Chain, which are attracting increasing attention from developers and investors. According to experts, this ability of Polygon to innovate despite the turbulence in the POL market could play a key role in the recovery of the token.
One of Polygon's strengths also lies in its ability to adapt to new market trends, as evidenced by the launch of new tokens and involvement in community initiatives. Some crypto market observers believe that these efforts could lead to a stabilization, or even a revival, of the price of POL, if market conditions improve. But for the moment, the situation remains tense and market players are attentive to future developments.
Despite the marked drop in the price of POL, Polygon maintains solid foundations and continues to position itself as a key player in strategic sectors such as DeFi and gaming. The initiatives taken and the projects in progress suggest that Polygon could overcome this difficult phase, even if caution remains necessary in the face of market uncertainty.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
