Polygon, a layer-2 network in the crypto industry, has seen its market share decline and its token, POL, drop by 43% from its December high. Competitors like Base and Arbitrum have surpassed Polygon in rankings and market share. While Polygon's technology offers an Ethereum scaling solution, it has struggled to maintain its position in industries like gaming, NFTs, and DeFi. Metrics such as total assets locked, stablecoin market cap, and trading volume on its DEX networks indicate that Polygon is less active compared to its competitors. The number of active addresses and deployed contracts on the Polygon network have also decreased. The POL token has formed a descending triangle pattern, suggesting further bearish movement.



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