Polygon crypto (POL) slipped 1.87% in the past 24 hours, trading near $0.2204 at press time. The move extends a 15.7% decline on the week and a broader 51% drawdown year-to-date.
Despite the price pressure, the network continues to post solid engagement, with over 562,000 daily active addresses and a total of more than 530 million unique addresses recorded on-chain.
Trading volume and decentralized finance (DeFi) activity also remain steady. Data from DeFiLlama shows that Polygon holds a total value locked (TVL) of $1.35 billion, with $113 million in DEX trading volume over the past day. Daily app fees exceeded $330,000, while app revenue hit $253,000.
Still, Polygon ranks only 14th among blockchains for revenue generation, securing $44,600 in the past 30 days compared to Tron’s $256 million.
These mixed signals, robust user metrics, and lagging revenue are feeding into a divided market sentiment.
Network Fundamentals Provide a Counterweight
Polygon (POL) continues to show signs of long-term resilience. Validator rewards, fees earned by nodes securing the network, have been climbing steadily, signaling sustained economic activity.
As crypto analyst Lennaert Snyder highlighted in a recent post, rewards are now consistently above $20,000 per day, reinforcing the idea that Polygon is “built for builders.”
Meanwhile, adoption remains broad-based. Polygon’s daily active address count places it 6th among blockchains, ahead of Ethereum, which posted 489,000. From DeFi to gaming and enterprise, Polygon has cemented itself as a leading layer for scalable Web3 applications.
Another analyst emphasized that surpassing 530 million unique addresses reflects “unstoppable adoption and network effects,” underscoring Polygon’s role as a default infrastructure layer for Web3.
Polygon Price Lean Bearish as Traders Eye Swing Lows
Polygon’s near-term technicals suggest further downside risk. TradingView’s daily analysis shows 14 sell signals versus just 3 buy signals, with moving averages overwhelmingly bearish.
The Relative Strength Index (RSI) is at 31, nearing oversold territory but not yet signaling a reversal. Similarly, the Exponential Moving Averages (EMA) across 10-, 20-, and 50-day windows remain firmly in sell territory.
Market analysts, however, are split on interpretation. Commentator Lennaert Snyder noted that POL is “heading towards its swing low” and framed the retracement as a potential risk–reward (RR) opportunity.
“Many see a dumping market, I see great RR opportunities,” he wrote, suggesting a reversal could attract swing traders once lower support levels are tested.
Looking ahead, the Polygon price is facing a struggle between negative market trends and improving fundamentals. In the short term, indicators suggest that POL may continue to test lower support levels. If selling pressure continues, there is a risk that the Polygon crypto price could drop to $0.20.
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