Polygon Faces Headwinds as MATIC Price Struggles Despite Polygon 2.0 Launch

Polygon's MATIC token rallied 16.4% with the launch of Polygon 2.0 but then declined 10.6% due to resistance at $0.60.

Departure of key Polygon co-founder Jaynti Kanani contributed to worsening investor sentiment.

Polygon's zkEVM lagging behind competitors like StarkNet and zkSync in activity and deposits.

Polygon's total value locked less than half of Arbitrum's, facing competition from other L2s.

Number of active addresses using Polygon DApps dropped 17% over past 30 days.