Polygon(MATIC) Price Prediction, Will MATIC Price Toss To $2 Soon?

The crypto market readily welcomed the Polygon cryptocurrency and it’s now ranking one among the top twenty crypto tokens globally. The year 2021 has been the best year for this cryptocurrency that it had even outperformed dogecoin in the last month. 

Did you know that, just for the past year, MATIC spiked almost 11,000% and became the 14th biggest cryptocurrency in the world?

Matic Network is an emerging cryptocurrency working on a scalability blockchain platform. It processes secured, expandable and instant transactions powered by Proof of Stake side chains. It provides free Ethereum based cryptographic token transfers and payments. 

With an intensified bullish rally, MATIC attracted many new and strong hands, and as a result, the price rallied like a giant.And therefore, new retail traders look at Matic as one of the profitable investments in the coming days.

Another notable event that left many amazed is Mark Cuban’s investment in this India crypto network. This is considered a milestone for MATIC and succeeding this scene, the network is now ready to deal with scalability issues raised in Ethereum Platform. For many people who feel safe investing on Ethereum networks but are troubled about it’s scalability, MATIC is all they would need! 

The MATIC tokens have been seeing great surges in the price predictions this year. But was this the same since the token came into existence? Wondering if your next investment must be in MATIC? If yes, reading this article which talks about various aspects like Price Prediction for 2021 and beyond, is what you have to do!

Overview

What is Polygon (MATIC) Token?

Matic, is the ethereum powered token of the network. Founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, the Matic token is specifically used for staking and building user experience. When Ethereum became the blockchain giant, the movements with other blockchains dabbed. The blockchain monster proved to be an unstable team player with its scalability issues at peak. 

Bypassing the major setbacks experienced, Matic landed its feet posing to create a Multi-chain ecosystem of Ethereum compatible blockchains. In simple words, Polygon aims to bridge ways between multiple blockchain networks making transfer of data and value straightforward. 

The network works on a Proof-of-Stake consensus and possesses a sidechain of the mechanism and a group of validators. These validators promise to increase the TPS, thereby also reducing transaction charges. The network works on a Plasma framework that exceptionally resolves Scalability issues preventing network congestion.

 Also, the PoS network ensures that no compromise is made on security or decentralization. To do this, a set of block producers are appointed per head block that checks on a fast block creation. Further the consensus is dealt by the Checkpointing layer.

MATIC is the utility token of the network

 It is a pay component, powering every payment that happens across Polygon. Also, the token holders help in the ecosystem development. Adding to it, for anyone who wants to participate in the consensus, they must hold a substantial amount of MATIC. Currently, the network also looks up to using it as an incentive with an exchange of valuable resources like computational energy and many more!

How to buy/ trade these tokens outside the network? Coinmarketcap lists a range of exchanges for it. Some of the most familiar exchanges that list Polygon are Binance, Cointiger and Bilaxy.

Fundamental Analysis

Matic Network is a layer-2 scaling platform that facilitates fast and secure off chain transactions for payments and generalized off chain smart contracts. It is a scaling solution for the Ethereum network. It allows Ethereum based transactions to be processed quickly using innovative protocols.

Matic employs the plasma frame to develop decentralized applications(DApps). Adding to it, the network is also looking forward to creating desktop wallets and browser extensions along with DApps. Plasma is a specific framework for easily creating decentralized applications that can interact seamlessly with each other.  Moreover, the PoS checkpoints aid multiple transactions occurring on a single side chain.

The network’s foot sketch consists of segments like block creators, developers, stakeholders and many more! For approving the transactions, stakeholders must lock the tokens. These tokens can be in turn used as voting sovereignty. It’s double layer consisting of Heimdall and Bor segments provides an improved scalability despite its lack on Ethereum. 

The network has partnered with multiple organisations across the globe in a short span of time. This year’s prominent collaborations mark those with Ankr, a crypto-based cloud platform and Graphlinq, who envision employing GLQ bridge tokens over Matic.

Coming to the recent upgrades we can see from the network’s roadmap- The mainnet version struck at 2020, a time at which Proof-of-Concept mechanism was also on-board. In the meantime, MATIC is also being rebranded to Polygon. Moreover, it touched most milestones within a short string. Some of them are getting listed by Coinbase and a collaboration with Incognito, boosting privacy!

MATIC Price Prediction 2021

Matic continued to trade at $0.0018 by early January 2021. Further the price started to rise and hit $0.043 by the end of January.  MATIC surprisingly listed an all time high of $0.5089 on 12th March and rallied further. The token was seen performing well. 

But not sooner did the Crypto market crashed on May 19th, pushing most currencies off the bearish trend. MATIC was one among them where it fell from $2.45 to $1.66. After this incident, most currencies recouped gradually and that was when Polygon grabbed the attention in the market. 

On May 24, MATIC price smashed a new juncture, from $0.94 to $2.1 and showed the highest recovery rate among all crypt of including monsters like Bitcoin and Ethereum. This was estimated to around 100% in just 24 hours when most currencies were just sailing recently after the massive price dip. MATIC has sustained this momentum and is keeping it high, where many traders believe Polygon has a great future.

The bounce backs from consequent support levels at $1.035 and $1.008 were short as the spindled bearish again. Currently, the jumps from support margins have a considerable span. Continuing on the pattern, crossing resistance at $1.34 can poise a high near $1.5 on a minimum via an ascending channel.

Considering the current trends, the MATIC price may be seen trading at $1.317 by the end of this year. If more investors get attracted to the fact that Polygon not just supports regular payments but also smart contracts, then the bulls may rally further. 

In such a scenario, the altcoin can see a high of $1.883 as the year ends. However, The Matic might sink to as low as $0.722 if it fails to reach the users since its movement is seen in a highly competitive space. 

Also read: Cardano Price Prediction, Evolutions to make ADA mark at $5?

MATIC Price Prediction 2022

If the price hits the positive highs by the year end, the 2022 trade might commence bullish. If that’s the case, the initial price for the coming year might be near $1.901. On the contrary, if MATIC closes this year on lows, then the next year might start being bearish. And so, it may resume trading at $0.750 by 2022

Some critics within the crypto space believe that the Polygon price is interconnectable to that of Ethereum. And thereby considering Ethereum’s adepts, MATIC can reach a high of $3.008 as of 2022 end. The token might decline to $0.915 if the currency comes across supply pressure. But by the end of 2022, the altcoin may exchange at $1.787 with regular market pressures. 

5 Years Polygon Price Prediction

In 5 years, Matic could hit a new high by breaking its previous price records and it is anticipated to be in the top 10 cryptocurrencies list. Several inbound developments and partnerships might lead to its growth. If the network can further work on TPS, that might eventually aid ETH holders and cause the price to surge at $8.941. 

However, the token might crash if bears go on pulling the prices down due to a possible market crash or any external controversies against Ethereum. As a result, The price might fall to $6.511 By the end of 5 years, Matic could be seen trading at $7.241  with its improved scalability and layer-2 blockchain’s long term success.

What Does the Market Say?

Gov.capital

According to Gov.capital, Matic would trade around $7.842 by the coming year and $31.632 at the end of 2025.

Capital.com

Capital.com predicts one of the interesting predictions as according to their prediction, Matic could exchange more than $5.5 at the end of 2025,and would be trading more than $9.41 by the end of 2028.

DigitalCoinPrice

According to DigitalCoinPrice, Matic is anticipated to trade at an average of $1.64 by the end of 2023 and could exchange at $2.85 at the end of 2025.

Cryptonewz

According to Cryptonewz, the Matic price is expected to hit the milestone at $1 by the end of 2021 and reach $1.3 by 2022. 

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Know Our MATIC Price Prediction

With a price of $0.0018, Matic initiated the year 2021. Further the price started to rise. The community might collaborate with certain other projects and startups for the betterment of the protocol. As Matic comprises unique features such as scalability, security it may enhance its user base, with further interventions the price can soar curing the congestion that happens on Ethereum. Therefore, according to Coinpedia’s formulated MATIC price prediction, new investors switch and the favoring market trends for MATIC can result in reaching new milestones. Consequently, the altcoin can hit $1.88 as the year ends.

However, if it fails to keep up and grab more investors the price may even slump and reach a low of $0.72. It is because due to a high market cap, the over value of assets may happen anytime.

Also read: Shiba Inu price prediction, Will SHIB price rally further in June?

How Did MATIC Perform Previously?

2019

Matic network initiated its journey on the crypto sphere on 29 April 2019 with a price of $0.004. The token steadily started to rise after. With certain variations, the price hit a high of $0.03 by the end of May and further declined to $0.01 by early June. Later, the token continued to remain stable at a price of $0.02 till the end of July. 

Interestingly, the token plunged to $0.01 by early August and resumed to be in the same price level with minor variations until November. Effectively, Matic spiked to $0.04 by early December as it gained the attention of the investors. Tremendously, the token declined to $0.01 by mid December. At the end of 2019 Matic was trading at $0.014. 

2020

On a bearish note, the Matic continued to trade at $0.014 during the dawn of January 2020. Later, the price started to variate and reached $0.02 by February. Dramatically, the token sank to $0.006 by mid March as the crypto market crashed due to Covid-19 outbreak. Further the price started to recover and reclaimed its resistance level at $0.025 by the end of May. Further the token hit $0.031 by mid August and plunged to $0.012 during the start of November. At the end of December 2020, Matic was exchanging at $0.017.

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