It’s no secret that cryptocurrencies have been on a rollercoaster ride this year. Anyone who has spent some time in this market knows how volatile it can be. Bitcoin was around $28,000 in January 2021 and then made a high above $64,000 in April before falling back. Some Altcoins shot up over 1000% during this timeframe. If you’re looking for an emerging cryptocurrency with a strong focus on scalability and Ethereum-based technology, Polygon might be your answer! The MATIC token is the currency of the Polygon ecosystem. Everything about polygon Matic price updates and the latest buzz is just a read away!
What is Polygon (MATIC)?
|Market Cap||$8,571,828,477 USD|
|Trading Volume||$978,619,008 USD|
|Volume / Market Cap||0.114|
|Circulating Supply||6.46B MATIC|
|Total Supply||10,000,000,000 MATIC|
Polygon Network is an emerging cryptocurrency working on a highly scalable solution. Its native token MATIC is an Ethereum-based currency that powers the Polygon Network, which seeks to provide quick and scalable transactions for developers building decentralized applications. The team behind the project aims to partner with leading global brands like Google or Facebook in order to offer them a robust and scalable blockchain platform for their needs, while also providing a great opportunity to earn MATIC tokens by staking nodes.
The Polygon Network is built on Ethereum’s second-layer solution Plasma Cash Protocol that aims at solving the scalability problem of blockchains by quickly scaling transactions in order to make them more efficient without compromising security or decentralization. The team hopes this will offer developers an alternative option for building dApps with fast transaction speeds and lower fees than having to work directly with Ethereum itself – which has seen its own challenges as it tries to scale globally.
Polygon Price Analysis Trend
The trend in the MATIC price is a long-term bullish one. Short-term bearish pressure tightens its grip on these Altcoins from time to time. However, MATIC is a fundamentally strong coin backed by a good team. The long-term outlook for MATIC might be strong at the moment, as there have been no major corrections yet. However, with all other factors aside, we can speculate that current prices are likely to change according to how much demand or supply changes down the line. For now, it seems like this could go either way and investment should only be considered if you have time on your hands to wait things out.
Polygon Price Prediction 2021
In the short-to-mid term scenario, MATIC has to break past retracement levels at $1.51 in order for our forecast of an immediate bullish prediction in 2021 to come true. This will be difficult if it cannot establish more support and continue reaching new highs this year. MATIC recently broke a long-term resistance level of $1.5, before facing a pullback.
Polygon Price Prediction 2022
The first half of next year will show fast growth, up to around $2.5 before slowing down in the second part and possibly not going below where it started at all (at least for now).
Polygon Price Prediction 2025
With MATIC prices predicted to reach $7.5 in the next four years, traders are encouraged by this projected increase! With additional medium, short-term and long-term price targets available when purchasing or selling orders on MATIC’s cryptocurrency market cap ranking site CoinMarketCap, it will not be difficult for MATIC to rise even higher than $10 – reaching new highs within the next 5 years.
Should you invest in Polygon (MATIC) right now?
Polygon Network appears as it could grow as cryptocurrency technology advances. The cryptocurrency industry is rife with hype and speculation that doesn’t always pan out. So, before you invest in polygon cryptocurrency (MATIC), take a moment to consider whether it’s worth your time or not. Investors might have more trust in this cryptocurrency than other coins because they’ve seen what happens when there are serious fluctuations in price: MATIC didn’t plummet as many others did, which may mean people feel confident about their purchase decision after all these months passed without a significant dip. But there are still risk factors involved.
How can you invest in Polygon (MATIC) on Mudrex?
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- Create / Login to your Mudrex account;
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