Polygon (MATIC) Resurfaces Among the Top 20 Crypto Rankings on CoinMarketCap

Polygon, a layer2 blockchain network, was in its prime almost two years ago. However, a downtrend has been seen in popularity, especially in the Polygon price.

Layer2 blockchain network, Polygon, was at its peak almost two years ago. But a downtrend has been observed in popularity, especially in the Polygon price. Earlier, it was known as among the top 20 cryptos of the market, but the downfall in popularity pushed it down in the ranking constantly.

However, now Polygon has resurfaced among the top 20 rankings on CoinmarketCap. This ranking is based on market capitalization, and with a market cap of $5.3 billion, MATIC is now sitting at the 20th position, beating Litecoin and many other popular cryptos. Speaking of which, Bitcoin price has recently hit the $64K mark and is aiming for higher, pushing other altcoins as well, including Polygon.

Analyzing The Polygon Price Surge

Polygon MATIC presented its best performance on December 27, 2021, when its price surged to an all-time high of $2.92. But it has failed to surge anywhere near ever since then. Instead, its value has continuously deteriorated over time.

However, in the last seven days, its performance has been quite promising, where the MATIC price surged to a month high of $0.5439. It is currently trading at $0.5379 after a 33% surge. It is one of the highest surges in the market as the user’s sentiments have been neutral on fear and greed, indicating a slow market.

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