Matic Fundamental Analysis
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, which are 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 is also used for payment services and transaction fees.
Matic Price Chart
Matic Network launched blockchain development tools and rebranded to Polygon in February 2021. From that moment 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
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, in late June MATIC price has started going back up, but one should watch the price closely as it 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
Below we have collected the most reliable price projections for Matic (MATIC) from popular forecast platforms.
#1. WalletInvestor MATIC Price Prediction for 2021, 2023, 2025
According to WalletInvestor, Matic price will grow from $1.137 to $6.272 in one year. That makes MATIC an awesome investment. The long-term earning potential is 451.63%. Predicted price for the end of 2026 is $26.595.
#2. TradingBeasts MATIC Price Prediction for 2022
Answering the question about if Polygon is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.56306 with a reduction to $1.44606 by the end of 2022.
#3. DigitalCoin MATIC Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Matic Network cryptocurrency will rise in the next 5 years starting from $0.873181 as of today’s price to $2.6562189. It will go up to $1.471578 by 2022 and starts its reduction in 2023–2024. Based on this forecast, Matic Network is a profitable long-term investment.
Summary
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).
FAQ
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.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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