Polygon Price Analysis: Can POL Reach $1 Amid Market Downturn?
Analysts are speculating on Polygon's potential to recover its all-time high amid a broader market downturn.
Analysts are speculating on Polygon's potential to recover its all-time high amid a broader market downturn. Ethereum (ETH) is trading at ₹2,26,125 ($2,390.48), up 0.3% since this brief published. This is an original Token Times brief based on reporting by Cryptopolitan, with live market data added, as of Thu, 22 Oct 2026 22:00:01 UTC.
Polygon's performance is crucial as it serves as a key Ethereum scaling solution and has seen significant enterprise adoption, impacting its native token's valuation and the broader DeFi ecosystem.
- Polygon DeFi TVL stands at $717.61M, down from its peak.
- Market analysts are divided on whether POL can reach $1 soon.
- Ethereum's recent price decline may affect Polygon's growth prospects.
Polygon, a prominent 
Ethereum side chain and layer two scaling solution, has been gaining traction among enterprises and industries, raising expectations for its native token, POL. Analysts are keenly watching whether POL can recover its all-time high and reach the $1 mark. This speculation comes amid a broader market downturn, with the total crypto market cap at $2.79T and 
Bitcoin down 3.69% in the last 24 hours.
The DeFi landscape on Polygon shows a Total Value Locked (TVL) of $717.61M, according to DeFiLlama, which is a significant decrease from its peak. Ethereum's DeFi TVL, while still substantial at $49.36B, has also seen a decline, potentially impacting Polygon's growth. The Fear & Greed index stands at 68, indicating a market sentiment of 'Greed,' which may influence investor behavior.
Cryptopolitan suggests that meme coins like PEPE could experience a rally if the market stabilizes, while also noting the potential for POL to reach $1. CoinCodex, on the other hand, predicts a 23.06% decline for Canton in the next five days, suggesting a more bearish short-term outlook. The divergence in these predictions highlights the uncertainty in the market.
Monero (XMR) has been performing relatively well, with a 7-day increase of 11.91%, indicating a potential shift in investor focus towards privacy-focused cryptocurrencies. This could be a sign of changing market dynamics, as investors seek alternatives amid the broader market downturn.
Looking ahead, the performance of Ethereum and the overall market sentiment will be critical for Polygon's future. Investors should watch for any signs of market stabilization and Ethereum's price movements, as these will likely influence Polygon's trajectory.
Since this brief published about 7 hours ago, Ethereum (ETH) has moved from ₹2,25,531.65$2,384.21 to ₹2,26,124.76$2,390.48 — +0.26%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₹248,119.87 (about $2,390.48), down 4.3% over 24 hours. The rupee itself trades about 9.7% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 22, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Polygon Price Analysis: Can POL Reach $1 Amid Market Downtur — questions & answers
What is Polygon's current DeFi TVL?
Polygon's DeFi TVL is $717.61M, according to DeFiLlama.
Will POL reach $1 soon?
Analysts are divided, with some speculating on the possibility amid market uncertainty.
How is Ethereum's performance affecting Polygon?
Ethereum's recent price decline may negatively impact Polygon's growth prospects.
How much is 1 Ethereum worth in rupee today?
About ₹248,119.87 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $2,390.48. The rupee price moves with both ETH's US-dollar price and the USDT/INR rate; use our Ethereum in rupee page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is up 0.26% since this brief first published — trading at ₹2,26,125 ($2,390.48) now versus ₹2,25,532 ($2,384.21) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Cryptopolitan. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.