The Polymath security token network’s POLY crypto has been one of October’s success stories. The crypto has pretty much quadrupled since the middle of the month, and investors will be hoping for more growth.
Polymath did not immediately respond to a request for comment.
But what is Polymath (POLY)? How does Polymath work? Let’s see what we can find out, and also take a look at some of the Polymath Price Predictions that were being made as of October 31, 2023.
Let’s examine some of the Polymath price predictions being made on October 31, 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex ’s short-term Polymath price prediction said POLY would reach $0.4031 by November 4 and $0.6982 by November 29. The site’s technical analysis was highly bullish, with 29 indicators sending positive signals and just three making bearish ones.
DigitalCoinPrice’s Polymath price forecast had it reach $1.44 in two years. CaptainAltCoin said it would trade at $0.6553. PricePrediction.net thought POLY would be worth $0.38 in 2025.
Looking at a more long-term Polymath price prediction, DigitalCoinPrice said it would be worth $4.24 in 2030. CaptainAltCoin thought it would reach $1.64 that year. PricePrediction.net’s POLY price prediction said it would stand at $2.71 at the start of the next decade.
Now, let’s examine some of the highlights and lowlights of the Polymath price history. While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a Polymath price prediction.
When Polymath launched in early February 2018, it was worth about $0.70. On February 19 that year, it shot to an all-time high of $1.66. After that, it fell as the market experienced a so-called crypto winter. POLY spent much of the following three years below $0.20 and even fell to an all-time low of $0.01075 on March 13, 2020.
Early 2021 saw the market flourish, and POLY climbed to a periodic high of over $0.65 in early April. There was a downturn in the summer but a resurgence in the autumn and it peaked at more than $0.85 in October. POLY closed the year at $0.4795.
Until recently, Polymath had enjoyed a fairly average 2023. The token climbed to above $0.20 in April, but the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges saw it drop to $0.08951 on June 15. Even as recently as October 13, POLY was worth just $0.1026. Since then, though, the crypto has been on a serious upswing, and, on October 31, 2023, it was worth about $0.41.
At that time, there were 924.9 million Polymath in circulation out of a total supply of one billion. This gave the token a market cap of about $378 million, making it the 222nd-largest crypto by that metric.
POLY has been on an upturn lately. It has risen by about 300% since October 13 and it is up nearly 360% since its June low. Polymath is also up more than 185% since the start of the year.
It is difficult to say with any certainty. Polymath has climbed significantly recently, but we don’t know if that is going to be sustainable. The token is linked to the Polymesh blockchain, and it is fair to assume that what happens to POLYX will happen to POLY and vice versa.
As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in POLY.
No one can tell right now. While the Polymath crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in Polymath, you will have to do your research, not only on POLY but on other coins and tokens such as UMA and MINA. Either way, you will also need to make sure that you never invest more money than you can afford to lose.
The Polymath program was set up in 2018 by a team of computer scientists. The system allows people to create their security tokens which are linked to regulated assets.
If this sounds familiar, it is because the people who founded Polymath also created the Polymesh blockchain.
The POLY token supports Polymath, which is based on the Ethereum (ETH) blockchain.
Polymath allows people to create security tokens. It offers people the opportunity to work with a platform that offers its users security, privacy, and regulatory compliance.
POLY can be swapped on a one-for-one basis with Polymesh’s POLYX coin and can be bought, sold, and traded on exchanges.
Because Polymath is based on Ethereum, it is a token, not a coin. You might see references to such things as a Polymath coin price prediction, but these are wrong.
On October 31 2023, there were 924.9 million Polymath in circulation out of a total supply of one billion. It might do, but not for some time yet. DigitalCoinPrice said it would break the dollar next year, but PricePrediction.net said people would have to wait until 2028. CaptainAltCoin thought it would reach $1 by 2030. Remember that POLY has not been worth $1 since 2018. POLY supports the Polymath platform. People can also buy, sell, and trade it on exchanges.
How many Polymath are there?
Will Polymath reach $1?
What is Polymath used for?
On October 31 2023, there were 924.9 million Polymath in circulation out of a total supply of one billion.
It might do, but not for some time yet. DigitalCoinPrice said it would break the dollar next year, but PricePrediction.net said people would have to wait until 2028. CaptainAltCoin thought it would reach $1 by 2030.
Remember that POLY has not been worth $1 since 2018.
POLY supports the Polymath platform. People can also buy, sell, and trade it on exchanges.
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Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.