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What is the total circulation of Polygon(MATIC) coins?
As of November 2023, Polygon's total circulating supply stood at 8.03 billion MATIC, contributing to the overall health of the network.
Dec 06, 2024 at 03:46 pm
What is the Total Circulation of Polygon (MATIC) Coins?
The total circulation of Polygon (MATIC) coins is 8,032,687,500 as of November 20, 2023. This means that there are currently 8.03 billion MATIC coins in circulation, out of a maximum supply of 10 billion coins.
How to Calculate the Total Circulation of Polygon (MATIC) Coins:
To calculate the total circulation of Polygon (MATIC) coins, you can use the following steps:
- Get the total supply of MATIC coins. The total supply of MATIC coins is 10 billion, as defined by the Polygon protocol.
- Subtract the number of MATIC coins that have been burned. Polygon has burned a total of 1.96 billion MATIC coins as of November 20, 2023.
- Subtract the number of MATIC coins that are staked. Polygon has a total of 4.77 billion MATIC coins staked as of November 20, 2023.
- The result is the total circulation of MATIC coins. As of November 20, 2023, the total circulation of MATIC coins is 8.032,687,500.
Factors that Affect the Total Circulation of Polygon (MATIC) Coins:
Several factors can affect the total circulation of Polygon (MATIC) coins, including:
- The Polygon burn mechanism: Polygon has a built-in burn mechanism that burns a portion of the transaction fees collected on the network. This mechanism reduces the total supply of MATIC coins over time.
- Staking: MATIC coins can be staked to earn rewards. When MATIC coins are staked, they are locked up for a period of time and cannot be sold or transferred. This reduces the circulating supply of MATIC coins.
- New issuance: Polygon can issue new MATIC coins to fund development and operations. This increases the total supply of MATIC coins.
- Demand for MATIC: The demand for MATIC coins can also affect the total circulation. If the demand for MATIC coins increases, the price of MATIC coins will increase, and more coins may be issued to meet the demand. Conversely, if the demand for MATIC coins decreases, the price of MATIC coins will decrease, and fewer coins may be issued.
Conclusion: The total circulation of Polygon (MATIC) coins is an important metric that can provide insights into the health of the network and the supply and demand dynamics of the token. By understanding the factors that affect the total circulation of MATIC coins, investors can make informed decisions about buying, selling, and holding MATIC.
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