Polygon Founder Sandeep Nailwal Embraces ‘Underdog’ Status

As major events for 2024 approach, Polygon founder Sandeep Nailwal starkly observes his own project, while Bitcoin and other cryptocurrencies gather momentum.

“Polygon is back to where its the best at : Being an underdog,” he states.

Polygon Founder Sandeep Nailwal Describes 2023 as a ‘Painful Ride’

In a post on X (formerly Twitter), Nailwal has pointed out that the year has posed challenges for the Polygon blockchain, while many founders tend to boast about their own projects.

“NGL it’s been a painful ride, the whole of 2023, but right now, it feels incredibly liberating to be the underdog again.”

However, a user on X going by the name Phygital argued that the project is doing well. “In terms of producing during a bear, I’d say you guys cooked more than any other ecosystem, and more than you guys have in any crypto season I’ve seen to date,” he stated.

Read more: Polygon vs. Loopring: Ethereum Layer-2 Solutions Compared

Polygon’s Declining Price in Recent Times

This comes amid BeInCrypto’s recent coverage of the declining price of Polygon.

At the time of publication, Polygon (MATIC) price stands at $0.87.

Polygon (MATIC) Price Chart 1 Month. Source: BeInCrypto

On December 20, BeInCrypto reported that the Polygon (MATIC) price has decreased under a long-term descending resistance trend line and fell below a horizontal area.

The weekly time frame technical analysis shows that MATIC has fallen under a descending resistance trend line since its all-time high in 2022.

At the time of reporting, the trend line had been in place for nearly 730 days. MATIC validated it numerous times, most recently last week.

Read more: How To Use the Polygon Bridge: A Step-by-Step Guide