Polymath crypto (POLY) soars over 48%. Here's why

September 09, 2022 11:14 PM AEST | By Manu Shankar

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Polymath crypto (POLY) soars over 48%. Here's why — Image source: © Rimidolove | Megapixl.com

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Highlights

Polymath crypto (POLY) is the security token blockchain that allows businesses to not only create, but also issue security tokens of its own that is fully regulated in nature.

The POLY crypto on 9 September was witnessing a healthy rally of over 48% and a massive volume gain of over 11463% at 12:30 PM (GMT +1), according to CoinMarketCap.

The Polymath crypto, on Friday was trading at US $0.273738 with a trading volume of US $64,82,00,798 over a day.

Polymath crypto (POLY) is the security token blockchain that allows businesses to not only create, but also issue security tokens of its own that is fully regulated in nature. Powered by the Ethereum blockchain, Polymath can well be dubbed as the technological basis from creating a tokenized equity.

Founded by the dynamic duo od Trevor Koverko and Chris Housser, the POLY crypto believes that the existing blockchains often fall short of meeting regulatory requirements of the capital markets. So, with a unique technology, the Polymath protocol aims to open the door to new financial instruments which would cater to the challenges faced by the current infrastructure and resolves issues related to identity, governance, and settlement.

The POLY crypto on 9 September was witnessing a healthy rally of over 48% and a massive volume gain of over 11463% at 12:30 PM (GMT +1), according to CoinMarketCap.

Why is POLY crypto soaring today?

Polymath has witnessed a good run over the past month or so. In fact, in the past 30 days it has registered gains of over 23% and 40% over the past week according to CoinGecko.

The recent price performance has pushed its intraday trading to 60.61 on Friday indicating a market interest from the market participants.

Image credit: Trading View

MACD seems to have to a momentum due to the recent rallies. The MACD line has created considerable difference between itself and the signal line. The investors would be hoping for the momentum to continue for long before the market corrects itself.

POLY crypto’s performance

The Polymath crypto, on Friday was trading at US $0.273738 with a trading volume of US $64,82,00,798 over a day. The token enjoyed a market cap of US $25,32,07,011 with 92,49,98,413 POLY coins in circulation.

While the crypto’s rally has been impressive for the past few weeks, but one must understand in crypto markets are often volatile and its prices can change at any given point of time. Therefore, one must always do the proper market research to ensure that one doesn't make a wrong financial decision.

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