#Write2Earn Polygon award contract is officially empty, will this push MATIC price to 3 USD?
$MATIC
Like many other cryptocurrency projects, the native token of the Polygon network, MATIC, was launched with a portion of the team's supply over a period of time. In the case of Polygon, the vesting period lasts 5 years, and since 2019, there have been periodic token unlocks. However, the unlock, which is often a deterrent for investors, is now over as the final tranche has just been released to the pool.
The last unlocked polygon belongs to the group
On Wednesday, February 21, the Polygon Foundation received the final portion of the tokens awarded from the vesting contract. In total, 273,304,816 million MATIC tokens worth 260 million USD were issued to the Foundation's wallet.
This unlock marks the last unlock the Foundation will receive, meaning that nearly the entire available supply of MATIC is in circulation. The latest settlement brings the cryptocurrency's circulating supply to 9,618,318,574 of its 10,000,000,000 maximum supply. As a result, Polygon's market capitalization sits at just over $9.14 billion with a fully diluted valuation (FDV) of around $5 billion.
The entire supply of MATIC has been unlocked, which means there will be no more tokens in circulation. This is a major milestone for the project whose investors have been waiting years for the tokens granted to finally dry up.
Polygons tend to be under $1 | Source: MATICUSDT on Tradingview.com
