Polymath
About Polymath Network
The price of Polymath (POLY) is $0.06005955 today, as of Sep 16 08:21 p.m., with a 24-hour trading volume of $22,822. Over the last 24 hours, the price has increased by 2.28%. Polymath currently has a circulating supply of 898.55M and a market cap of $53.97M.
POLY is the Ethereum blockchain-based token of the Polymath Network, a decentralized platform that issues and manages security tokens, which are tokens that are compliant with securities laws. POLY can be swapped for POLYX, the native token of Polymesh, on a 1:1 basis. Polymesh is an institutional-grade public permissioned blockchain for regulated assets that went live in October 2021.
POLY started as an Ethereum token in February 2018 at 2 cents. That was during the 2017/2018 initial coin offering boom, and POLY’s price soared to its all-time high of $1.59 just 11 days after trading in the token began.
The hype around crypto faded away the following year, and POLY fell to 2 cents by September 2019. When crypto rose again in 2021, POLY reached a high of 93 cents in October. By June 2022, when the 2021 bull cycle had ended, POLY had fallen to 25 cents.
POLY launched with a fixed, capped supply of 1 billion tokens. According to data from Messari, private investors bought 23% of the supply in January 2018 for 120,000 ETH (then worth $58.7 million) in a private presale; all of those tokens had been introduced into public circulation by February 2022.
A further 15% went to the founding team. That supply was temporarily locked up, and all the founding team’s tokens had been released by February 2022. Advisers received 2% of the supply in August 2018, and Polymath airdropped 1% to the public in January 2018. The remaining 51.3% was reserved by Polymath and will be released periodically until January 2024, at which point all 1 billion tokens will be in circulation.
Polymesh, a proof-of-stake blockchain designed by Polymath, launched in October 2021. Its native token, POLYX, received the classification of utility token by the Swiss Financial Market Supervisory Authority (FINMA). As of June 2022, POLYX’s price was 19 cents.