Polygon (MATIC) was the top gainer among the list of cryptocurrencies arranged by market capitalization by CoinMarketCap in a 24-hour period leading up to press time.
What Happened: MATIC traded 34.49% higher at $0.756 at press time and has risen 120.04% on a seven-day trailing basis.
Since the beginning of the year, MATIC has skyrocketed 4,188.14% — beating the 259.7% and 90.27% year-to-date returns of
Ethereum (ETH).
BTC traded 1.95% at $54,861.99 at press time, while ETH traded 4.80% higher at $2,637.28.
Polygon was previously called the Matic Network and is a platform for Ethereum scaling and infrastructure development. It describes itself as a Layer 2 scaling solution and is focused on reducing the complexity involved in scaling blockchains.