What is going on the mind of polygon investors ?

[betswift]

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-

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

[jaberwock]

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.

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.

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.

[betswift]

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.

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.

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 (), which makes holding viable.

[justdimin]

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.

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.

[gastrack]

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.

[betswift]

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, that would be hard for them to turn the tables around

[NicNacCoin]

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-

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.

[Sim_card]

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.

 

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.

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

[beerlover]

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?

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.

[TastyChillySauce00]

Even with activity going, that would be hard for them to turn the tables around

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 .
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.

[asriloni]

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.

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.

[fikrett]

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.

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

[ibuddy122505]

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.

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.

[o48o]

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?

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?

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?

[FortuneFollower]

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.

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.

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.

[fikrett]

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?

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?

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, but it sure is a great factor that contributes to the whole - my bags are going from me to another direction -
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 But it was when they only came out.

[Crypto Library]

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.

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?

[fikrett]

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.

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.

[FortuneFollower]

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, but it sure is a great factor that contributes to the whole - my bags are going from me to another direction -
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 But it was when they only came out.

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

[Webetcoins]

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.

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.

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.