ETH - Polygon Has Soared 170% Off Its Low -- Here's Why It's Still a Buy
Amid all the doom and gloom about the crypto winter that you hear from the media, it's easy to overlook the fact that some cryptocurrencies have posted scorching hot returns this summer. For example, since hitting a low of $0.32 on June 18th, Polygon (CRYPTO: MATIC) has rallied more than 170% to $0.87. There's no need to feel like you missed the boat -- here's why it's not too late to buy Polygon and why its best days look like they are still ahead of it.
Image source: Getty Images.
Polygon was created to be a Layer-2 scaling solution for the Ethereum (CRYPTO:ETH) network. It is a proof-of-stake cryptocurrency that has grown to become the 12th-largest crypto by market cap, with a valuation of about $7.5 billion. Polygon is notable for featuring a throughput that has the potential to hit 65,000 transactions per second and low fees. MATIC is the Polygon network's native token.
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Polygon Has Soared 170% Off Its Low -- Here's Why It's Still a Buy