Is Polygon MATIC Crypto a Good Investment?

The developers are constantly announcing partnerships with Web 2.0 giants. For long-term investment, investors must think wisely and make their own decisions by studying the technology and objectives provided by Web 3.0 initiatives like Polygon. Polygon (MATIC) is considered a good investment in 2023 for its lead technology to help scale blockchain networks in the overall Web 3.0. As Ethereum is the biggest blockchain network in the world, MATIC being part of Ethereum to support its execution will gain an immense amount of support. In early 2021, there was a significant increase in the trend of NFT on Web 3.0.

  • As a result, Polygon needs to expand its usefulness beyond Ethereum to be a feasible long-term investment.
  • If you want to get MATIC on the Polygon Mainnet, you can use the official Polygon Bridge for depositing and withdrawing MATIC once you connect an eligible wallet.
  • Specifically, each time Polygon processes a transaction, it creates a few checkpoints on Ethereum.
  • Polygon has recorded impressive returns for some of the early investors.

Polygon (MATIC 7.05%) is a blockchain platform designed to work with Ethereum (ETH 4.52%) and make it more scalable. It’s often referred to as a layer-2 blockchain or a sidechain because it depends on another blockchain, but it also provides a full framework that developers can use in many different ways. There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. Our experts have done the research to pick out the select few top crypto exchanges today. Ethereum is the second biggest cryptocurrency and was the first to develop smart contract capability. Smart contracts are tiny pieces of code that make blockchain databases programmable.

Around this time, a market-wide bull run was just getting started, and MATIC was lucky enough to be part of it. MATIC traded below $0.02 for the most part of April and the first half of May 2020. By this time, the demand had reduced, and the community remained relatively low, so there wasn’t enough activity to catalyze a steady uptrend.

For the near future, there doesn’t seem to be any implied pressure to buy Polygon (MATIC) soon. And Bitcoin halving has proven in the past to serve as a major event investors should take note of. General investors have seemingly lost interest in cryptocurrencies. That’s likely because a lot of investors got in when the markets were red-hot. An estimated 70% of crypto holders in the U.S. entered the market in 2021. And those left holding the bag since last November’s highs are likely a bit salty.

Polygon Price Prediction 2028

We must understand that there is no particular amount to be invested in the crypto market. Everyone has a different saving status and risk-bearing capability. Cryptocurrencies are still a volatile and high-risk investment market. Polygon zkEVM, another big project after Polygon (PoS), is currently on the mainnet in the Beta phase with significantly fewer gas fees, increased TPS, and the use of Ethereum dApps. Whether you are a beginner in the crypto realm or a little mature one, we have guided you through a highly potential cryptocurrency, called Polygon (MATIC). To put it simply, MATIC is a low-risk investment that comes with lots of potential rewards.

  • General investors have seemingly lost interest in cryptocurrencies.
  • This is a risk with every cryptocurrency, but it’s even more acute for Polygon.
  • MATIC will be used to pay for all transactions on the plasma chains.
  • It is evident that Polygon is an impressive platform with significant potential.
  • Today (21 March 2022), the current Polygon price is $1.49 USD, with a 24-hour trading volume of $551,869,911 USD.

As a result, MATIC price reached a high of $1.29 on 7 November before the collapse of the FTX (FTT) exchange saw it drop to a low of $0.773 on 21 November 2022. During 2021, MATIC’s price went soaring thanks to the increasing popularity of Ethereum and surging activity in NFTs and play-to-earn games like Axie Infinity. MATIC began the year at a humble $0.018 and a market cap of $81 million. By the end of the year, MATIC’s market cap hit a whopping $20 billion, with the altcoin touching its all-time high of $2.92 on 27 December. Polygon provides developers with the tools they need to create scalable decentralized applications (dApps) that are both secure and user-friendly. In the meantime, we think it makes sense to stock up on established cryptocurrencies.

Polygon uses a proof of stake consensus model to verify transactions. Proof of stake works by employing validators to lock their tokens on the chain. Users can create new chains, add to the Ethereum chain and even create their own currencies. This allows users to take advantage of the security Ethereum offers while avoiding the expensive fees. One issue that potential Polygon investors need to consider is the speed at which the programmable blockchain space could change. Blockchain technology has developed in leaps and bounds in the past 10 years.

Why should you invest in Polygon (MATIC) in 2022?

Being a Layer 2 scaling solution platform built on the Ethereum blockchain, the crypto is highly in a position to attract many more investors and partners. Many cryptocurrencies soared to new all-time highs during the 2021 bull run. Due to such market contradictions, many crypto traders and investors may be confused about whether it is time to hodl or sell their assets while the prices are good. In this article, we will take a closer look at the opinions of different crypto experts on MATIC’s future trading opportunities and take a look at our Polygon price prediction. Polygon has created a mapping system that bridges GLQ tokens to the MATIC mainnet. This allows you to swap the Ethereum version for the GLQ token on MATIC.

How Could Polygon Future Utility Affect Price?

WIth a market capitalization of roughly $11 billion, MATIC is among the top 25 cryptocurrencies. The circulating token supply is roughly 7.5 billion of that 10 billion. With this finite supply, it’s possible the demand for MATIC tokens may outstrip the supply, leading to positive price action. Cryptocurrency users consider Polygon a good investment for several reasons. The project could become the main layer-2 solution of choice for Ethereum. The team is strong and ambitious, and they aggressively pursue exceptional partnership opportunities.

Polygon Price Prediction 2023 – 2040

A cryptocurrency exchange broker is a website that allows you to Buy MATIC in India and trade other cryptocurrencies. MATIC is being exposed to millions of users on Coinbase which makes it a very accessible asset. Additionally, “the learn to earn program” helps educate skeptics of the layer 2 scaling solution and the possibilities of its token. This increases activity on the asset and such demand positively affects the price and leads to high returns for traders and investors. Digital Coin Price believes Polygon’s MATIC is a great investment in 2022 and beyond. According to the experts, MATIC could have a trading price of $1.15 by the end of 2022 and $1.66 by the close of 2023.

Louis DeNicola is freelance personal finance and credit writer who works with Fortune 500 financial services firms, FinTech startups, and non-profits to teach people about money and credit. His clients include BlueVine, Discover, LendingTree, Money Management International, U.S News and Wirecutter. Internal risks could also impact the project, such as issues with the management team or the project.

Purchasing via a DEX like Uniswap can be accomplished using wrapped Ethereum (wETH), an ERC-20 token that allows users to trade ETH on decentralized platforms. Ethereum is the first and largest blockchain network in the world with smart contract functionality. Its native currency, Ether (ETH), has a market capitalization of roughly $350 billion, making it the second-largest cryptocurrency in the world by market cap.

Before creating the Matic Network, much of team Polygon were already established blockchain developers, having made many important contributions to Ethereum that are still used today. In its early days, some of Polygon’s investors included co-founders Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. In April 2019, the project conducted an initial exchange offering (IEO) on the Binance Launchpad platform, which helped raise $5 million in funding from Binance and other investors. Some of the most recent investors in the project include Mark Cuban, owner of the Dallas Mavericks, who invested an undisclosed amount in Polygon in May 2021. Check here to create an account on BTCC and choose to purchase MATIC with USDT and a leverage up to 50x. You can also choose to deposit MATIC with a minimum single deposit of 300MATIC.