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Matic Fundamental Analysis
Polygon (MATIC) is an ERC-20 token native to Polygon (formerly Matic Network), which is a Layer 2 scaling solution. Polygon combines a protocol and a framework for building blockchain networks fully compatible with Ethereum and connected to its mainnet. Polygon was launched in 2017 and moved to its own network in 2019. The project is backed by some big names like Binance and Coinbase.
The preferred platform for blockchain development is Ethereum, however, it has some limitations: it’s slow, expensive, and not customizable. Polygon helps avoid these issues by using Proof-of-Stake consensus protocol and a modified Plasma framework (a solution initially proposed by Vitalik Buterin), which supports a system of blockchains connected to the Ethereum chain. This solution allows processing more than 65000 transactions per second with block confirmation times of less than 2 seconds. There are plans to deploy other scaling solutions in addition to Plasma, like Optimistic Rollups, zk Rollups, sidechains, and others.
Polygon provides this framework for developers who want to scale their dApps together with the tools to easily build their own chains (chain templates, support for Solidity/Viper languages, Ethereum libraries, consensus mechanism implementation solutions, etc.). The resulting chains are compatible with each other, as well as with the main Ethereum chain. The transactions within the Polygon ecosystem are paid in MATIC tokens, which are also used for payment services and transaction fees.
Matic Live Price Chart
Matic Network launched blockchain development tools and rebranded to Polygon in February 2021. Following this exciting Matic news, MATIC token’s price, which hadn’t broken the $0.03 mark before, started to rise, reaching almost $0.9 in April. After a small lull, the price skyrocketed, hitting the all-time high of $2.68 on May 18, 2021. Notably, this happened at the same time as most other crypto prices, including Bitcoin and Ethereum, crashed. This disparity may be explained by the growing interest in alternative blockchain solutions. A few days later MATIC experienced a short dip but quickly recovered, enjoying the support from high-profile organizations and people like Mark Cuban. It was traded for around $2 for a while, however, by the end of May, it started exhibiting bearish tendencies, hovering around $1.15-$1.20 in mid-June. This may be tied to some public image issues caused by a string of fraudulent projects deployed on the Polygon network, as well as to the bear market experienced by crypto in general. However, there’s still a lot of trust in Polygon, which seems like a positive sign for the MATIC price’s future.
Matic Technical Analysis
Looking at the MATIC to USD (or Tether) chart, one can see that since late May 2021, MATIC has been trading in a falling wedge pattern, which may indicate an upcoming trend reversal. Looking at the shorter term, one should watch the price closely if it goes up and reaches the previous resistance level of $1.31. If it breaks this line, this would further confirm the probability of MATIC going bullish. If it doesn’t, however, it might be up for another dive or at least a consolidation in the support zone, at around $0.75-$0.90. In this case, one should be on the lookout for a forming descending triangle and watch for further signs of the price’s breakout or breakdown.
Matic Price Prediction
#1. WalletInvestor MATIC Price Prediction for 2021, 2023, 2025
#2. TradingBeasts MATIC Price Prediction for 2022
#3. DigitalCoin MATIC Price Forecast for 2021, 2022, 2023, 2025
As it can be clear from the analysis cited above, Matic (MATIC) projections are rather contradictory. There is no universal consensus either about positive or negative future MATIC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Matic projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Can Matic reach $1?
Yes, MATIC already broke the $1 barrier. It may dip lower in the short term, but the long-term predictions show this coin trading consistently above this level
Will Polygon reach 10 dollars?
Yes, some Polygon price predictions promise that it may reach 10 dollars as soon as 2022. Even if it doesn’t happen so soon, it’s possible.
Why is the Matic price increasing?
Since rebranding and expanding their offer from just a scaling solution to a full-fledged development framework in early 2021, Polygon has attracted a lot of interest. The word got out that Polygon technology is solid, with many high-profile names such as Kyber Network attached to it. This means a lot of people place their trust in Polygon and MATIC token’s future.
Is Matic network a good investment?
Yes, the MATIC network is expected to grow in the long term. The founders have a good track record of continually growing their network - for example, adding some key features for blockchain developers in February 2021, which resulted in rapid growth in popularity. This makes it a good investment.
What will the Polygon price be tomorrow?
It’s hard to say what will the Polygon price be tomorrow since Polygon price predictions on such a small time scale are not always reliable. Since Polygon is a solid project, MATIC holders may be better off holding their tokens long-term.
Where do I buy Polygon?
There is a number of exchanges listing Polygon. We at SwapSpace offer you a quick and easy way to buy Polygon using the best offers from our partners.
SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 450 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.
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