Despite climbing over 17% in the past week amid a broader crypto market rally, Polygon’s MATIC token has struggled to keep pace with its peers.

Once a dominant player, MATIC has significantly underperformed, slipping to the 34th spot in market capitalization rankings. Polygon’s underperformance can be largely attributed to its ongoing transition, compounded by broader regulatory concerns in the crypto industry. 

In September, Polygon began rebranding its MATIC to...