Key Insights:
Polygon's price has fallen by over 80% in the last 12 months from $1.23 to $0.23.
If the prices fall further, Polygon could see the price of 4 cents ($0.04 arriving soon).
Technical charts show that below $0.3, Polygon shows a breakdown of the descending triangle chart pattern that it has been under since 2021.
On the fundamental level, Polygon is still very strong, clocking 3.2 million transactions today and securing the Jio Partnership.
In the last 365 days, Polygon has crashed from $1.23 to $0.23 losing 81.2% of its value. The fall began when Disney announced the end of its metaverse plans (during crypto winter). Then the fall was accelerated from $1 to $0.7 because of memecoins overshadowing every other altcoin.
Polygon's Last 1-Year Price Trend
CoinMarketCap
Between December 2024 and early March 2025, Polygon saw a major collapse from $0.7 to $0.23 due to multiple market factors which impacted most altcoins.
The US Fed's inability to raise interest rates due to high inflation sucked the liquidity out of the crypto markets.
No additional Bitcoin or crypto acquisition from the markets meant cryptocurrencies were left on thein own in the short term.
The delay in the US Crypto policy and sky-high crypto taxes around the globe stopped more liquidity from entering the markets.
Polygon's price is at a very critical level where it can either break down to $0.04 or see a surge back to $0.65. Technically, things are at their worse level, however, fundamentals show a growing adoption of Polygon.
Yes, Polygon is fundamentally strong with the Jio Partnership and a record number of blockchain transactions that puts it as the second-largest Layer-2 chain.
The recently launched Jio Coin is one of the latest cryptocurrency offering for the users of Jio Mobile Networks, one of the two major mobile network service providers(the other being Airtel) in India. Jio has a customer base of over 477 million and has a decent presence in the financial sector tying up with giants like BlackRock.
Jio Coin is meant as a reward coin for users using the Jio Sphere web and mobile browser at present but is expected to become the general reward token for all the retail businesses of Reliance Industries like Reliance Trends (clothing), Reliance Fresh (Grocery) and Reliance Digital (electronics).
Polygon clocked the second highest number of transactions today despite it being a bad market lately. It recorded the second-highest layer-2 transactions at 3.2 million in the last 24 hours after Base's 8.7 million per day and much ahead of Arbitrum's 2.3 million and Optimism's 0.8 million.
Polygon Transactions in the Last 24 Hours
Polygon Scan
At present, Polygon is at the crossroads of bearish and bullish futures. If it makes above $0.27 by this week, it may see a pull back to $0.65; otherwise, the current breakdown in POL's descending triangle charts would knock the price down to $0.041 as per crypto chart analyst Ali Martinez.
Yes, if you are a short-term investor, otherwise, it is a no.
Like broader crypto markets, Polygon may see a little rough phase till the US Crypto Policy becomes clear which is expected around June 2025. In the short term, Polygon might witness a fall till $0.2 or even $0.1 levels.
However, that does not impact the number of users using its blockchain or it's tech stack (POL token, zkEVM, and Polygon Mainnet). It also does not affect the partnerships that are already executed with partners like the Jio Network or Bank of Italy. This makes us believe that Polygon is a medium to long-term investment and could provide good returns if held in the long-run.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.