Matic price prediction. Matic Fundamental Analysis | Via SwapSpace | Capital | July 2021


Matic price prediction

MATIC is the native ERC-20 token of Polygon (formerly known as Matic Network) and it is a layer 2 scaling solution. Polygon combines the protocols and frameworks for building blockchain networks and is fully compatible Ethereum And connect to its main network. Polygon was launched in 2017 and migrated to its own network in 2019. The project has been supported by celebrities such as Binance and Coinbase.

The preferred platform for blockchain development is Ethereum, but it has some limitations: slow speed, high cost, and non-customizable. Polygon helps avoid these problems by using the Proof-of-Stake consensus protocol and an improved Plasma framework (the solution originally proposed by Vitalik Buterin), which supports a blockchain system connected to the Ethereum chain. The solution allows processing more than 65,000 transactions per second, with block confirmation times less than 2 seconds. In addition to Plasma, there are plans to deploy other expansion solutions, such as Optimistic Rollups, zk Rollups, side chains, etc.

Polygon provides this framework and tools for developers who want to extend their dApps to easily build their own chains (chain templates, Solidity/Viper language support, Ethereum libraries, consensus mechanism implementation solutions, etc.). The resulting chains are compatible with each other and with the Ethereum main chain. Transactions in the Polygon ecosystem are paid for in MATIC tokens, which are also used to pay for services and transaction fees.

Matic Network launched a blockchain development tool and was renamed Polygon in February 2021. From that moment on, the price of the MATIC token (which had never broken the $0.03 mark before) began to rise, reaching nearly $0.9 in April. After a brief period of calm, the price soared, setting a record high of US$2.68 on May 18, 2021. It’s worth noting that this happened at the same time as most other cryptocurrency prices (including Bitcoin and Ethereum) plummeted. This difference may be due to the growing interest in alternative blockchain solutions. A few days later, MATIC experienced a brief decline, but quickly recovered and received the support of well-known organizations and people like Mark Cuban. It once traded at around US$2, however, by the end of May, it began to show a bearish trend, hovering around US$1.15-1.20 in mid-June. This may be related to some public image problems caused by a series of fraudulent projects deployed on the Polygon network, and also to the bear market experienced by cryptocurrencies. However, people still have confidence in Polygon, which seems to be a positive signal for the future of MATIC prices.

Since late May 2021, MATIC has been trading in a falling wedge pattern, which may indicate an upcoming trend reversal. In the short term, the price of MATIC began to rebound in late June, but when the price reaches the previous resistance of $1.31, the price should be closely watched. If it breaks this line, this will further confirm the possibility of MATIC bullish. However, if it does not, it may dive again or at least consolidate in the support area, and the price is about 0.75-0.90 US dollars. In this case, one should pay attention to the falling triangle that is forming and watch for further signs of a price breakout or collapse.

Below we have collected the most reliable price forecasts of Matic (MATIC) from popular forecasting platforms.

According to WalletInvestor, the price of Matic will rise from $1.137 to $6.272 within one year. This makes MATIC a great investment. The long-term profit potential is 451.63%. The forecast price at the end of 2026 is $26.595.

When answering the question of whether Polygon is a good investment, TradingBeasts answered yes. From the perspective of 2021, the price of the token is expected to reach US$1.56306 and drop to US$1.44606 by the end of 2022.

In the DigitalCoin analysis, the price of the Matic Network cryptocurrency will rise from today’s 0.873181 US dollars to 2.6562189 US dollars in the next 5 years. It will rise to 1.471578 US dollars by 2022 and begin to decrease in 2023-2024. Based on this forecast, Matic Network is a profitable long-term investment.

It is clear from the analysis cited above that Matic (MATIC) forecasts are quite contradictory. There is no general consensus on positive or negative future MATIC price movements. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Matic project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.

Yes, MATIC has broken through the one-dollar mark.It may go lower in the short term, but long-term forecasts show that the token transaction is always above this level

Yes, some Polygon price predictions promise that they may reach $10 as early as 2022. Even if it does not happen so quickly, it is possible.

Since renaming their product in early 2021 and expanding from an extended solution to a mature development framework, Polygon has attracted a lot of interest. The news came out that Polygon technology is reliable and has many well-known names, such as Kyber Network. This means that many people trust the future of Polygon and MATIC tokens.

Yes, in the long run, the MATIC network is expected to grow. The founders have a good track record in continuously developing their network-for example, in February 2021, some key features were added for blockchain developers, which led to a rapid increase in popularity. This makes it a good investment.

Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.

SwapSpace is a cryptocurrency exchange aggregator that allows the exchange of more than 450 cryptocurrencies at fixed and floating interest rates. We collect the exchange rates of the major cryptocurrency exchanges in the market on the screen, allowing our users to compare and choose any option they like best. We will not add any fees to our partners’ rates, which makes transactions through SwapSpace profitable. The exchange time does not exceed 10 minutes from any of our comprehensive services. SwapSpace supports 24/7 work.

The latest article:
Hedera Hashgraph price prediction
VeThor price prediction

pointnewzz

Leave a Reply

Your email address will not be published. Required fields are marked *