Polygon Founder Sandeep Nailwal Reflects on a Challenging Year
Sandeep Nailwal, the founder of Polygon, recently shared his thoughts on the difficulties the project has faced in 2023. While other founders often boast about their successes, Nailwal admits that it has been a painful ride for Polygon. However, a user named Phygital argues that Polygon has performed well during the bear market and has produced more than any other ecosystem. Despite the challenges, Nailwal finds it liberating to be an underdog once again.
Polygon’s Declining Price
BeInCrypto has reported on the declining price of Polygon recently. Currently, Polygon (MATIC) is priced at $0.87. The price chart for MATIC over the past month shows a decrease below a long-term descending resistance trend line and a horizontal area. Technical analysis on the weekly time frame indicates that MATIC has been under this trend line since its all-time high in 2022. The trend line has been in place for almost 730 days and has been validated multiple times by MATIC.
Hot Take: The Challenges and Resilience of Polygon
The year 2023 has been challenging for Polygon, with its founder acknowledging the difficulties faced by the project. Despite this, there are supporters who believe that Polygon has performed exceptionally well during the bear market. The declining price of MATIC reflects the overall market conditions but does not diminish the resilience and potential of Polygon as a blockchain platform. As an underdog once again, Polygon may find new opportunities to grow and thrive in the evolving crypto landscape.
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