I examined Polygon's current situation and noticed something quite interesting. Looking at valuation metrics is enough to understand how the market views this project. In the 90-day fully diluted P/S ratio, Polygon is trading at 36.4. Comparing this to other Layer 1 and Layer 2 solutions makes the picture even clearer. Solana is over 50x, BNB and Ethereum are at much higher multiples, and Avalanche and Aptos are similarly valued at over 100x, so why is Polygon so far behind?

Also, consider this: Polygon is fully circulating, has a deflationary mechanism, and generates real revenue. This combination is a strong fundamental that many projects do not have. From a basic data perspective, it doesn't make sense for Polygon to have such a low valuation multiple.

Regarding the Polygon coin, it's almost certain that this gap will close someday. The question is: will the market reprice these fundamental data, or does Polygon need to stay in this position? Personally, I think the former is more likely. Such valuation anomalies are usually corrected in the long term. Especially for a project with real revenue and a deflationary structure, remaining at this level could be an opportunity the market hasn't seen.