Polygon down 6.6% — watch for consolidation before buying

I see Polygon trading at $0.236, down 6.6% on the day and roughly 92% below its all-time high of $2.92.

The market cap is $333.6M versus an FDV of $2.36B, which points to meaningful potential dilution and a lack of current market confidence. Daily range is $0.232–$0.260 and the project sits at rank 245.

I’m cautious here: I want to see consolidation, improving on-chain activity, or clear catalysts before increasing exposure.