Amid indications of possible market recovery, investors are now seeking to invest more of their capital in cryptocurrencies. Recall that since mid-2022, the crypto industry was forced into a state of bear market owing to the global economic downturn as well as the crash of the Terra project. This development consequently discouraged investors, thereby making them to move their assets away from the sphere. However, in early 2023, the crypto market saw what can be described as an indication of imminent recovery. Since the second week of 2023, the largest crypto by market cap has seen at least a 43% spike in its value.This development is not limited to BTC alone as other cryptocurrencies, like Polygon and others have also continued to witness sharp recovery from their downturns, thereby necessitating their future price prediction.
Meanwhile, investors, having discovered the inherent volatility of the industry are now very critical about investing their capital in cryptocurrencies. Notably, they only want to dabble into crypto with a promising future, thereby aiding their financial interest. As a potential investor, you are expected to be guided by this priority, thereby causing them to look before leaping. Meanwhile, with thousands of crypto assets rocking the industry, investors are having more than enough options to pick from. But, one of the crypto projects that have continued to gain attention of investors in the industry is Polygon, thereby necessitating its price prediction in this piece. But before this can be done, it is first imperative to do an overview of the crypto project.
Overview of MATIC as Polygon’s crypto
Notably, the project identifies its token as MATIC. Just like other cryptocurrencies, this token can be sent, received, and traded as a medium of money, value and investment. Most importantly, it serves as a means of payment on the Polygon network. Additionally, it also allows its holders to enjoy governance right. This thus means ownership of this crypto enables them to participate in decisions capable of aiding the development of the network. Further, holders can also stake MATIC on the network.
Occasioned by the above, one can assert that the token helps to fuel, power and safeguard the network. According to findings, MATIC derives its name through the earlier stage of Polygon’s development. Recall that the platform initially launched as MATIC in 2017 before rebranding to Polygon in early 2021. Notably, the token enjoys a circulating supply of 9.01 billion coins. More so, it has a maximum supply of 10.00 billion coins. Today, MATIC can be purchased from numerous crypto exchanges, including Coinbase, Binance and more.
An Overview of Polygon network
Without any doubt, Polygon has grown to become a leading Ethereum scaling platform. As a layer 2 solution, the protocol enables developers to develop scalable, user-friendly decentralized projects. According to its website, Polygon “combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.” Through this, it is able to improve the scalability of Ethereum, thereby making the network cheaper, faster, and more secure. More so, it banked on this features to make Ethereum accessible to all.
Occasioned by its implementation of numerous scaling chain solutions on its blockchain architecture, Polygon has been able to earn the trust of developers. Today, It ranks as the best interoperable layer two scaling solution for building Ethereum-compatible blockchains. Currently, it boasts of thousands of projects, including wallets and exchanges. These projects rely on the network to scale their performance. It is the choice of developers because of its low transaction fees and effective security. Having established the background of Polygon, it is now essential to assess its recent price performance before making a future prediction of the token.
Past Price Performances of Polygon (MATIC)
Worthy of note that Polygon (MATIC) made its market debut in 2019. Then, it started with a trading value of $0.047. Later in the year, it crashed to $0.023. However, around November, 2019, MATIC spiked to $0.044 but couldn’t sustain it for long, crashing to $0.014 at the end of the year.
Meanwhile, in early 2020, the Polygon crypto came up to trade at $0.03. This up in its value manifested in March, but it wasn’t sustained for long. Again, the crypto further plunged to $0.007, representing a crash of over 50%. Later in the year, it saw another bullish momentum. Around August, 2020, Polygon (MATIC) traded as high as $0.034. As usual, it failed to sustain the momentum, falling to $0.017 before the end of the year.
However, in 2021, Polygon recorded an historic surge in trading value. Although, this development was not unconnected to the situations in the broader crypto market. The development saw the value of Polygon doubling in January, trading at $0.04. In February, MATIC consolidated on this momentum, thereby seeing a spike of over 500%. This means the token traded at around $0.23 as at that time. It sustained the spike in March, recording another 40% increase to trade at $0.54. Although, it experienced a setback in late March, falling below $0.30, it quickly recovered around April to $0.40. It spiked further until the end of the year, trading and thus closed the year above $2.
In 2022, it began to again sustain the momentum. However, later in the year, the bear market invaded the industry, forcing Polygon and other cryptocurrencies to dip. This development consequently plunged the token to as low as $0.41.Till the end of the year, the token failed to see any significant spike in its value. But in early 2023, it gained a bit following a sharp recovery in BTC. Polygon traded above $1 for the first time since mid-2022. Having analyzed Polygon (MATIC) past price performances, it is now imperative to do its future prediction.
Polygon Price Prediction 2023
On an optimistic note, the cryptocurrency market during the year will be on a recovery path, which could make assets in the market fluctuate as the market recover. Recently, the crypto market hit a $1 trillion market capitalization after plunging to around $780 at the height of the FTX crisis. Giving crypto enthusiasts a positive pointer of a good recovery that more is yet to come as the crypto market recovers.
Nevertheless, MATIC is expected to enjoy a significant growth in 2023 due to a rapid market recovery. Therefore, we are hopeful tha the recovery of the cryptocurrency market will influence the positive price trend of the token. As normalcy is gradually returning to the crypto market, we predict MATIC to trade at $1 as it’s lowest for the year. More so, we expect the coin to trade at $2.83 while averaging $1.90.
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Polygon Price Prediction 2024
Meanwhile, in 2024, MATIC is predicted to increase in value as the market enjoys a stable atmosphere. Therefore, experts set a prediction of $4.91 as the maximum price and $2 for Polygon’s MATIC minimum price in 2024. The token is projected to have an average price of $3.35.
Polygon Price Prediction 2025
In 2025, we expect Polygon to see an impressive growth as crypto gains more adoption across different sectors. Due to that, the price could reach as high as $6 while averaging around $4.22. However, there are emerging pointers that MATIC could see a minimum price of $2.81 during the year.
Polygon Price Prediction 2026
By 2026, a significant increase is expected in the price of Polygon MATIC, this price rally is evaluated to reach a high of $3.33, with an estimated low of $7 and a target average of $5 as calculated by our long-term Polygon prediction forecast. Hopefully, we expect the coin to benefit from the increasing influx of projects to Polygon’s ecosystem. Their presence within the Polygon sphere will go a long way in attracting investors’ attention to MATIC.
Polygon Price Prediction 2027
We expect the upward trend to continue in 2027, the token could reach $9 as maximum price. Furthermore, the figure will present an impressive increase that’ll see MATIC attract more market attention. On average, the token is also expected to trade at $6 and a low of $4 for the year.
Polygon Price Prediction 2028
Considering previous price trends of MATIC, our prediction for the year suggests that the coin may trade in a range of $6 and $12. Likewise, our analysis also suggests that the average value may be $9. This price rally will be aided by what we expect to be a progressive year for MATIC.
Polygon Price Prediction 2029
The good run from the previous year will continue as Polygon will rally high to $18 representing its maximum for 2029. According to analytical estimations, the token will record a minimum price of $10, while the average price is predicted at $14.
Polygon Price Prediction 2030
By 2030, Polygon will grow in popularity, therefore aiding it’s native token to gain more market attention. The token will record an average the predicted price of $20 for the year. Additionally, MATIC can hit a high of $25 and a low of $15.
Polygon Price Prediction 2031
The price of Polygon might fluctuate between $21 and $37 in 2031, where the former is the lowest price and the latter is the highest price for the year, as per our MATIC price predictions. Meanwhile, the average value also expected for the year is $30.
Polygon Price Prediction 2032
Based on the analysis of the previous price trend of MATIC by trading experts, the following maximum and minimum prices are predicted in 2032, $25 and $46. More so, on average, it will trade at $38. At some point during the year, the token will also witness some minimal changes due to the demands of the industry.
Polygon Price Prediction 2033
The price might fluctuate between $32 and $55 in 2033, where the former is the lowest price and the latter is the highest price for the year, as per our Amp price predictions. Meanwhile, the average value also expected for the year is $44.
Polygon Price Prediction 2034
Polygon will enjoy a steady bullish run if a number of critical advancements and collaborations go as planned. Utilization of the coin will expand, pushing its minimum value for the year to an expected $36. Likewise, we expect this to aid MATIC in having an average price of $48 and a maximum of $60.
Polygon Price Prediction 2035
Meanwhile, in 2035, MATIC is predicted to gain more value as the cryptocurrency market enjoys a progressive market. Thus, experts projected a prediction of $62 as the maximum price and $44 for the token’s minimum price for the year. Market pointers are projecting $53 as the average price.
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Will Polygon reach to $50?
The growing adoption of Polygon as a bedrock for numerous innovations will help MATIC to soar over the years. Due to that, we are optimistic in this prediction piece that the price Polygon will even surge beyond $50. We register hope that the token will soar as far as hitting $62.
Similarly, the general market condition of the crypto space will be pivotal to these predicted prices. In subsequent years, cryptocurrency as a financial innovation will only get better in regard to adoption, regulation, and case use. As the market grows, we expect top tokens including MATIC to react in a progressive pattern.
In the trader’s best interest, it will be helpful if investors can trade less than what they can afford to lose. While the crypto market maybe innovative in aiding enthusiasts to enjoy financial freedom, they must be careful of diverting the major portion of their portfolio to MATIC alone.
Disclaimer: This review is done by our experts, This is not a financial advice, BinBits is not liable for any lose/damage to any user, Please do your own research before investing in any project
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