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What Is the Polymath Token Price Prediction Today
AT A GLANCE
- In 2024, Polymath Token price is expected to reach $0.4356375069182456, according to some experts
- 2025 promises to be turbulent, with prices ranging from $0.008091 to $0.4080405607786282, with PricePrediction.net predicting a breakthrough leading to a price rise to $0.4080405607786282
- By 2030, POLY price can hit $0.4356375069182456
Polymath Token Fundamental Analysis
Polymath (POLY) is a utility token of the Polymesh blockchain — the network providing the infrastructure for the issuance of security tokens. Polymesh was founded in 2017 with the plans to launch the mainnet in 2021.
Security tokens represent digitized financial securities — like an ownership stake in an asset — “living” on the blockchain. Security tokens, while utilizing blockchain technology, also have to comply with the rules and regulations typical for the traditional financial industry. This means that it’s not always convenient to issue such tokens on networks like Ethereum which are usually used for this purpose. For example, owner’s identity information is important in portfolio management, even if it’s tokenized, while most blockchain networks are designed to avoid using identities. This, and other similar reasons, is why the Polymesh network was created: it combines the best of both worlds.
The Polymesh network is secured using Nominated Proof-of-Stake (NPoS) protocol. It is permissioned, meaning that both Validator and Nominator nodes are known entities. Polymath token (POLY) is used to power the network: transaction fees, module fees (payments at the launch of a new security token), and smart extension fees (for the third-party smart extensions) are paid in POLY. Polymath token is also used for governance purposes.
Note that POLY is an ERC-20 token. Within the year after the mainnet launch, most of the POLY tokens are expected to be swapped 1:1 to POLYX — the native token on Polymesh.
Polymath Token Live Price Chart
Polymath (POLY) has joined the crypto market rally at the beginning of 2021, which is no big surprise. POLY’s price has grown from ~$0.1 at the start of January to more than $0.7 by late March. Polymath token’s price then went through a slump, dipping back down to $0.1 in June.
Soon the trend reversed again, and POLY’s price reached ~$0.4 by the end of August. The biggest contributing factors to that were probably Polymath Coinbase listing in July and the crypto market recovery.
After this slow climb, though, POLY skyrocketed on the news of successfully reaching the latest milestone in its development: Polymath’s price reached $1.34 in the first week of September. Later that week, POLY’s price went down a little, with the token trading between $0.7 and $0.8. Note that the Polymesh mainnet launch is expected later this year, so any of the Polymath price predictions will probably depend on whether the project can hit this major milestone.
Polymath Token Technical Analysis
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