Polymath is a decentralized protocol that runs on the Ethereum (ETH) network and is focused on building technology that enables the creation, issuance, and administration of digital assets on the blockchain. According to data from Cointelegraph Markets Pro and TradingView, POLY rose 51.58% to a daily high of $0.772 on September 30 after hitting a low of $0.51 on September 29.
Its 24-hour trading volume increased from an average of $21 million to $544 million. POLY’s price and trade volume has increased as the protocol’s developers continue to upgrade and improve the network’s capabilities, while new ventures such as RedSwan and its commercial real estate marketplace open on the Polymath network.
The total cryptocurrency market worth is currently $1.91 trillion, with Bitcoin dominating at 42.7%. On Sept. 30, crypto traders heaved a sigh of relief as media headlines highlighted encouraging news about crypto acceptance and potential regulation. Visa revealed earlier in the day that it has created a layer-2-based blockchain interoperability center that would allow cryptocurrency payments, while Federal Reserve chair Jerome Powell emphasized that the regulator has no intention of outlawing cryptocurrencies. The increase in sentiment coincided with a favorable day for Bitcoin’s price action, which is up 5.74% and trading near $44,000 at the time of writing.