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I am sure that the previous weeks of the investors of the polygon(Matic) coin wasn't going good. And the reason you are already seeing on the chart. Even I was also in FUD and thinking multiple time that should I sell my coin on loss because of saving some of my capital.
But thankfully it's take quick recovery it make more than 16% pump in 24h and make more 24% recovery in this week.

Even then I will ask to the communities or the polygon investor will think that it will be good idea to hold polygon for long-term or the best will be sell immediately after the recovery?

Let's discuss-

I believe the reason for this matic price pump could be traced back to their two recent announcements, one about their upcoming upgrade, which is to happen a few weeks from now, on September 4th, and their plan to join the UK advocacy initiatives, which focus on promoting decentralisation. 
 
For now, I think it will be wise for anyone holding to do their own research, but $0.5 is something that matic can outperform anytime, as I have held and sold some in the past for over $1, which I believe it can still get there.
 
But one thing is just uncertain to me since the new upgrade is going to introduce the Pol token as the new official native token, which will be used to cover up all polygon transaction fees. I think the demand for matic is absolutely going to decline when that starts. As we all know, matic being the native token for the network is part of the reason why its price is pumping.

Matic all-time high is $2.92
The price now after the gain that you posted about is $0.517

Anyone that invested on the coin during its all-time high is losing 5.647 divided of the money the person invested on the coin. Example is someone that invested $1000 on Matic at all-time high. The person's money would be $177.05 by now . That means the person is losing $823 already.

So is it worth investing on the coin in long term when it has no chance to even get to its all-time high?

Im one of those investors too that been long time holding with this coin but didnt bother to sell out my bag no matter what. The advantage on having that portfolio which is consist of several coins is that you wont really be stressing out yourself whenever that one or two or half of those coins would be dumping and the others pumping on which you would really be having that back in mind that it is really just that a fine thing because you do know that recovery would really be always there. As for Polygon then its one of my favorite coins on which its cheap when it comes to transaction and it fast. We do know that when it comes to price increase
or value then everything would really be depending on the market demand on which of course this would really be the main consideration. Just like any other coins or projects in the market then
it would really be that survival of the fittest. Investing into potential coins would really be the key or something that had been that supported by the community or simply sitting on top ranks.

All that matters is that Matic will be migrated to Pol. Any Matic holder can swap it for the new currency on a 1:1 basis. Pol will be the native currency for staking and fees for the Polyon PoS network, which will positively affect functions, governance, and expansion, limiting the supply of 10 billion. The success of POL's price growth depends on the success of this upcoming upgrade after a month and whether it will increase demand and attract investors to the Polygon network.

As for me, I am one of Matic's investors and have long-term confidence in it. With these major developments that will provide solutions for network improvement, I am optimistic about its future and don't see reaching a dollar as difficult. And each person has his own expectations and research regarding his vision.

Matic is one of the coins that has been so disappointing.  I asked a question up there on my first post on this thread. Can you answer it? Let me quote it for you:


Matic havs been so disappointing. I will not encourage anyone to buy it. I know someone that invested in it this year at $1.02 or so but she has lost half of the money.

If you are to say that Matic has been so disappointing, what will you say for coins like EOS and Wave? They are among the projects with their own blockchain that I'm so disappointed in.
 
Matic has been making some effort to upgrade and meet the demands of its users, which is a good sign. It's just a matter of time before getting back to their ATH will be achieved. Let's first watch how this upgrade will go, which will determine how seriously investors will take it.

Did everyone buy it at its highest price? They should have bought in stages and chosen the right time to buy, utilizing technical analysis. As for Matic, it is like many other altcoins that were greatly affected by the bearish wave in the market, whales, and similar factors. Its price has indeed dropped in a way that is discouraging for everyone. Don't look at its current price; instead, focus on its potential, the upgrades, and the developments that will take place in its project. I do not know whether it may reach the previous ATH or not, and this is determined by market sentiment, investor interest, and the SEC's stance. Also, Polygon is now in great competition with Starknet, Arbitrum, and other blockchains.

I invested the amount that I did not care to lose, and I have no problem waiting to observe its future closely. Everyone has their own investment decision to make, whether to risk in Pol, withdraw his funds once it recovers, or be a long-term investor.

Most altcoins are disappointing. You can see how those meme coins pumped this year. There are many altcoins that pumped like that in the past. But just that most altcoins can be very disappointing. People will pump it and dump it and move to another altcoins. Nothing more than gambling about them.

I will advice people to be careful of altcoins. This coin may not get to all-time high in the next 10 years or more.

Polygon is L2 of ETH and L2 market isn't looking so well with so many newer L2 having relatively low market cap compared to the long established L2 like optimism, arbitrum and polygon, personally I consider the trend of L2 to be dead already and won't invest in them at the time being  :). not to mention polygon, despite releasing so many new features, the price barely move, make me wonder if anyone still interested in investing into this coin tbh.

the L1s like Solana is far more interesting than the L2 market right now, since price tightly coupled with the price action of BTC making it have the same volatility as BTC which BTC on its own is having quite the price swing these days alone.

The price of Matic Coin was 2.92 USD in 2021, but it is currently priced at 0.53 USD.  It is very sad that most of it has been dumping but not pumping, in comparison the price of Bitcoin touched $69k in 2021. But in 2024 it broke the all-time record by touching 73k dollars, but the price of matic coin is relatively at that place and has not touched the past price. So it should have grown more at present, I have investment in I had purchased matic coins for $1.61.  It is the highest dumping in 2022 and till now it has not returned to that journey so if there is only recovery I will sell my holding.

Yep, the potential is here, and it will be gud to get some funds out on the rise, not all, but some of them - sure, taking the creams off so to speak ;D

There is no doubt that it was disappointing because a lot of people believed in the coin and had been holding. Matic was one of my first coin i bought during my earlier days of investing. Seeing such a decline reminded me of Luna because back then I lost a lot of money in Luna, and this was the same strategy they used to exit the market.

I think we can do now to hold on to the market recovery, and when we have recovered the exact amount, we bought it luckily, its best we sell and take out our capital at the same time while watching the market if there will be positive changes. I don't want to make the same mistake twice. This does not mean I do not believe the polygon system.

I personally like polygon and think there is some substance behind the project.  But in terms of pricing it most likely follow the same path as most of the other larger cap altcoins.  I think there is room for growth and depending on how theor team takes the next year or 2 can see this in the top 10 coins for a long time moving forward. 

Let's hope it will be this way, and not slow stagnation without innovation behind it for years to come ;D

Apart from the fact that some altcoins can sometimes be very disappointing, I really think that polygon is going to be persistent and will do far well in the future compare to its current price. I have traded Matic when price was even more than one dollar and I still believe that with the low transaction fee of the polygon network, the coin can go above $2 in the future. It just requires patience for investors to be able to hold till then and also be aware that anything can happen to disrupt the project from archiving it's speculated growth.

I want to agree with you when we are come to comparing altcoins against bitcoin. And I am sure the Luna incident and the FTX happen make altcoins market more disappointing.

But even then we the Crypto Ethustian peoples want to make investment on it for long term f for becoming the early investor of that coins. Like the early investor of bitcoin are shining right now. And I am hoping that polygon have the ability to recover in this bull season and I am looking for holding it .

I think the current rebrand of Polygon network leads to this increase in price.. And I think investors will be happy because improvement in price like this haven't happen on Polygon for quite long time..
Although, I think most of these investors are still at loss but they will be happy to see this increase in price.

Polygon has never been disappointing for some time now and I don't see it doing it now. I rate it as one of the best-performing altcoins in more than 5 years interval. It is the fourth altcoin I bought after some little investment in Bitcoin. There have been a lot of technical updates in the Polygon network such a network won't just crash irrespective of my guess that what OP said is just a shakeout i the network.

However, one thing remains the network is usable cheap, and fast. People should just stop trading the Polygon and invest in it for a long-term goal. If it's too much for them to handle then they should migrate to investing in another altcoin.

Hearing the news that polygon has started to recover, investors are still holding coins rather than selling them, the price has not yet stabilized, hopes for a very large increase in pokygon during the next bull run. The basis of Polygon is an automatic network that has been replaced so that this coin has become much sought after by investors who collect large amounts, I think Polygon investors still maintain it.

Sounds reasonable and logical for them to do so, if the expect the potential from it ;D

Don't you worry because I believe that he is not referring to Polygon when he said that, according to the next sentence that he gave out specifically or especially when he said the word ''persistent''. For me, I think Polygon is not exempted and even BTC which is known to be the king, still have some downtimes too. It's only normal but what matters the most is if they can bounce back again and become more stronger next time. Both coins already proved it anyways. You said you only invest a little in BTC but I think you are mostly into alts because it looks like you already have 3 solid alts before Polygon.

I think there is no problem with that but it is only if we prioritize the crap alts and the low-quality ones. We can't just stop the people from trading using Polygon because cryptos are not only limited to investing but they have plenty of use cases.

I agree. What really hits home is that there will be a bounce eventually due to activity / innovation / funds flowing from these two (;D), which makes holding viable.

That is true, there aren't really any investments in the crypto world that has zero risks, we have so much risk at all times and I believe that we are going to end up with a good result without much issues. This is why I believe that people who are worried about this one, should be worried about another one as well, it's just not that clear to do anything without understanding what the others are doing as well. To make a prediction about crypto you have to understand about the market in general and not just one of them at all.

This should be something that will take a while, and because of that I believe that we are going to make some returns if we trust the market along with it. For example, you can't make a prediction about polygon, without making a prediction about the market because you need to do both to get the answer and can't do just one of them. This means that if we trust the market to go up then we are going to trust polygon to go up as well.

I have held and sold some in the past for more than $1, which I accept it can in any case arrive. Be that as it may, one thing is only questionable to me since the new overhaul will present the Pol token as the new authority local token, which will be utilized to conceal all polygon exchange expenses. I think the interest for matic is totally going to decline when that beginnings. Obviously, matic being the local token for the organization is important for the motivation behind why its cost is siphoning.

 Even with activity going,  (https://www.crypto-news-flash.com/polygon-matic-signals-potential-reversal-amid-surge-in-on-chain-activity-ahead-of-pol-migration/) that would be hard for them to turn the tables around ;D

Polygon was once a very good coin and still is but the price has been dumping a lot. People are holding Polygon Coins but those who are holding have invested long time ago but have seen a lot of dumping in the investment due to which they are holding based on that dumping. As you have profited you can sell your investment or keep it is totally up to you but in my view selling should focus on good currency.

I would be advisable for the OP to sell his bag of polygon and take profit instead of keeping them for a long-term believing that the price will reach a new ATH which is not certain. Altcoins can disappoint you at any moment with their price dip which they might not recover from it again. Altcoins are for short term hodlings and when you see little profit, you sell and invest into bitcoin. Polygon is not different from any other coin apart from bitcoin.

 No one knows if the upgrade will help add value to Pol price.

Definitely a questionable project at this point because polygons power comes from being an alternate to ETH main chain, whereas now we are seeing eth have a very small gas fee, meaning that there is no need for an alternative, so that results with people not using MATIC like they used to. This will once again find itself if ETH gas fee increases, it will allow people to buy more and more of it and use that instead, but until then MATIC seems to be staying still and not really doing much.

At the very best case, it will go up with the market and nothing more, look at the chart and you will see that it wasn't good when the market wasn't good and it was good when market recovered, nothing out of ordinary, not in a bad way nor in a good way. This has to be something that will take some time, it is going to be something that will not be all that easy to handle, we are going to end up with something that will take time to see if MATIC has anything out of ordinary market movements.

the activity means absolutely nothing though, an onchain transactions surge doesn't mean the altcoin gonna pump out of nowhere, even in the middle of bullish ETH blockchain transaction surge and fee become really high but the market dumps anyway. the surge could also means people are swapping their matic to USDT in dex ;D.
I think it's just how the market is so weak, stock market is currently tanking, I think it can affect crypto too and cause many alts more specifically the L2 ones to further tank.

personally I've lost faith with anything ETH related though so I might be biased.

https://imgvb.com/images/2024/09/04/dda9181c5dfe6bdcfb66713ccec988a7.jpg

Interest in using the Matic blockchain has dropped due to many competitors. The chart above is telling us about how Matic got only 144k USD in revenue from the fees this month. It has also placed it as an L2 blockchain with smaller revenue. That horrible result means none are using it anymore. The Matic revenue from blockchain fees tells us if this blockchain is dying now.

Also, POL upgrade makes it even worse because it's going to dilute the supply of tokens. And it's not just a "name change." I expect the price to go down even deeper.

Thanks for a good infographic! I too think that that's not a rebranding of sorts, but a dump due to the factors you described.
And it will stay that way for a while.
Quite a while ;D

yes, after the Polygon 2.0 upgrade, they expected the new $POL token to improve revenue and scalability, but its value has dropped significantly. Although $POL is live, it hasn’t gained much traction yet.

This upgrade is an important move for Polygon 2.0, but despite the technical improvements, the results so far have been disappointing.

To be fair, every coin has ATH, and that's rarely not in the past. Would you say that none of them would go back to ath? Because i've seen some insane recoveries, and 464.8% needed for Polygon new ATH is nothing compared to them.

And polygon has lots of good fundamentals and big companies backing it. My favorite is of them definitely that reddit has adopted nfts as avatars and they are only using matic (or should i say pol already?

Only time will tell whether it was worth it in the long run, but for now, what you described is true for an ordinary person who either looks after the developments of the situation or got the funds into it.
It could be done otherwise, but here we are.

Only time will tell, but it sure is a great factor that contributes to the whole - my bags are going from me to another direction - ;D
It shouldn't discourage you from believing in the project, of course.
One of the nfts, for example, was sold for 105 ETH on Reddit ;D But it was when they only came out.

Will all the new upgrades of Polygon be in vain because we are seeing day by day that Polygon is not able to improve much even after recovery in the middle because it has dumped huge amount after recovery. I myself am currently going through a good amount of loss on polygon matic.

Although I am investing here thinking of long term but this polygon(matic) is making me panic. Anyway, I will hold all the polygons I have.
And another news is today I saw that polygon matic has been suspended in Binance, no trading or withdrawal can be done here. And besides another thing, I noticed that launchpad option is showing in polygon matic in Binance, does anyone know the details about this?

Didn't Binance say that they will swap the tokens in ratio of 1 to 1?
Don't have the details or the answer, unfortunately, but it sounds not gud.
And everyone involved should stay strong.

Damn, those were the days I imagine.
What are the odds that NFTs on Reddit now will cost this much..

After this was created, I mean the topic, the price of polygon dropped significantly, to be fair the market isn't that great neither so there is nothing shocking about that, but it goes to show you that you shouldn't make judgements based on just a few stuff, that will not help you at all, and you will end up losing a lot of money because of it. I suggest that you end up doing something more decent, and thanks to that you should be making more money if you look at the long term.

Making a long term investment requires you to look at long term in the past, if you look at previous 1 month and decide on a 5 year hold plan you will not make any money, but if you look at previous one year and decide to hold for a year, that should help you a lot.

Never treat your altcoins in BTC way.

I mean no altcoin is good for long term holding. Probably you may try swing trade with your altcoins if you are able to predict its cycle and its bottom. Other than this, DCA or long term holding will not not fetch you good results unlike what bitcoin will definitely get you.

You may gain some profits in long term holding of your altcoins but that must be only in USD value but definitely not in BTC value. So, the better strategy could be converting into bitcoins when your altcoins investments are in profits and then waiting for bitcoin halving and then bullish year of bitcoin to enjoy the real profits and to get ready for catching the bottom of good altcoins.

A recovery is indeed possible, but at the same time it is understandable that those that have held MATIC for a few years are worried about the lack of recovery, as there were some positive signs at the beginning of this year and now the price is lower than their expectations, so those long term investors are worried a new ATH may not be reached, forcing them not only to lose a lot of money, but wasting years of their time when they could have invested in another coin that actually brought them profits.

I totally agree. It seems like a lost opportunity for many, I imagine. However, they can't complain - it's either going out with your funds drained or waiting it out and forgetting about it before it will eventually bounce back (or not).

It looks bleak at the moment if we look at the charts, but what do you think can give this recovery a push?
Many are worried, but more should think about the possibilities that would make their position better.
And watch after the updates.

You are right seriously person is at a high level of lost that is why it's not always advisable to venture the market during bull run, when the market crashes there would be much lost and if time not taken it could be hard for them to bear the lost. This same reason is why people lament investment on cryptocurrency that it's very volatile, and of course it is, why would someone venture into market at the picked without knowing there is every likelihood for a serious dump from the market.

We should always take risks involved in investing in anything, really, for granted.
It's essential to stay up to date with the market and the risks involved.
You won't be profiting all the time here, it's a cycle of sorts.

There are people who feels more relaxed with investment especially some sort of altcoin/shitcoin. Most times they are being Carried away with the profiting and what they having as ROI which most project keeps deceiving people to invest and stake their coins. But it's always advisable to invest in a solid coin that holds more potentials bitcoin and few top 10 altcoin.

I don’t know what's the benefits of upgrade MATIC to POL, but MATIC was big dumped before this upgrade, may be when they announce about upgrade when MATIC price was 0.34$-0.37$ but MATIC holders expected good pump after complete upgrade that's not happened provably it’s due to bearish market. In the last two months MATIC price decreased very badly which isn’t happened even in the last 2 years, it’s price never down below half dollar’s. I was holding significant amount of MATIC but i sold out at 0.55$ before announce upgrade.