The rise of the Ethereum blockchain has exposed the imperfections of early blockchains. The dapp system has become unusable due to technical failures caused by congestion.
Polygon was designed as a solution for scaling blockchain networks. It is aimed at unifying and optimizing work in blockchain networks. Using Polygon provides the ability to work simultaneously, with high speed and minimal resource consumption.
What is Polygon (MATIC)?
Polygon is a layer 2 network that does not change the Ethereum blockchain in any way and actually works simultaneously as a layer. In this way, it prevents Ethereum decentralized application systems from being clogged and the costs associated with congestion rising,
It works with multiple networks and has many uses, hence the name “polygon” – a mechanism for simplifying the complex Ethereum blockchain.
MATIC price history
MATIC is the network’s native token. It is used for settlements between participants using the Polygon network. When the token first started trading, it was worth only $0.00263. The price did not change significantly until the beginning of 2021.
By May 2021, the coin has risen in price by a fantastic 10,500% and reached $2.45. In the summer, the price of MATIC followed the general market correction and at the moment reached $0.67. By the end of July, the price rose above $1 again. In the wake of the altcoin season, MATIC has updated its price record at $2.7. In general, it was possible not to rush to change MATIC to AVAX.
The correction in 2022, which developed into a full-fledged bearish trend, also affected MATIC. At the time of writing, the coin is trading at $0.91 and is holding the 10th position in the ranking of the most capitalized cryptocurrencies.
It is worth noting that in 2021, the platform developers rebranded the network. It received the name Polygon (formerly Matic Network) and new functionality. This played a significant role in the growth of the price of the coin.
At the beginning of 2022, the project attracted new large investors. Later, Tether announced its decision to launch the USDT stablecoin based on Polygon, and in December 2022, Jewel Bank made a similar statement.
Polygon (MATIC) price prediction 2022
There is very little time left before the end of 2022. The coin is trading quite stable, and the recovery of the price to 1.2 – 1.3 dollars does not look completely impossible.
Polygon (MATIC) price prediction 2023
Polygon continues to actively develop and hire employees even in the midst of a bear market, which in itself gives grounds for fairly optimistic forecasts. When the market starts to recover from the crisis, the asset price may rise above $2.
Polygon (MATIC) price prediction 2024
In 2024, a new market cycle is expected to begin. If the cryptocurrency market repeats the patterns of previous cycles, the coin could set a new price record at around $3.2. During this period, a record exchange rate of USDC to NEAR is not excluded.
Polygon (MATIC) price prediction 2025
Against the backdrop of further adoption of cryptocurrencies and the expansion of the use of blockchain technology, the price of a coin can once again update the historical maximum. The average price of $3.87 looks quite plausible. Since the project was actively developing even in the difficult year 2022, the influx of users in the next phase of growth will increase and the coin may rise in price even more.
Polygon (MATIC) price prediction 2026
From today’s position, the expected price maximum is estimated at about $5.1, the minimum is about $4.6. However, market volatility can make significant adjustments to the forecast.
Polygon (MATIC) price prediction 2027-2030
Forecasting the behavior of the cryptocurrency market is extremely difficult, especially when it comes to such distant prospects. It is quite difficult to predict the events that can affect the dynamics of prices. It is likely that by the beginning of the next cycle, the legal status of cryptocurrencies will be settled and this will give a powerful impetus to the growth of the market. According to the most conservative optimistic forecast, by 2030 the coin will approach $10.