Polygon envisions popularizing the Ethereum platform by offering a Layer-2 scaling solution. This solution is geared towards developers who are in need of a secure and accessible platform to build decentralized applications (dApps) with enhanced scalability. The ecosystem of Polygon utilizes its native token, MATIC, which plays a crucial role in various aspects of the network.
Despite recent roadmap updates and upgrades, the Polygon price (its native coin MATIC) corrected over 30% last year, opening the year and trading in the $0.7 – $0.8 range. Since then, however, it has continued to show a promising uptrend this year. Will Polygon coin go up in 2023? Is MATIC a good investment? This guide will forecast the polygon MATIC’s price until 2030.
Polygon Price Prediction – Overview
A summary of our MATIC prediction for the near future is presented below to provide a general understanding of the coin’s potential value:
- By 2023: MATIC may face difficulties surpassing the $1.7 level, especially considering the psychological barrier and the high liquidity region. If the bulls persist, a close above this barrier can help MATIC reach $2.6 by the end of 2023.
- By 2024: Given MATIC’s sustained growth and in-network developments, the coin may reach $4 by the end of 2024.
- By 2025: After a choppy movement, if MATIC manages to break through, a path to $6 could be clear by 2025’s end.
- By 2030: With growing crypto acceptance, interest from institutional and retail investors is likely to rise. Furthermore, the broader adoption of layer 2 blockchains in the years to come may push MATIC to $14 by 2030.
Polygon – Latest News
Polygon has been active in making partnerships across the crypto industry and stayed up to date with blockchain tech trends. Recent Polygon news announcements included these updates:
- The Polygon network recently underwent a significant event, the hard fork upgrade, that its community eagerly awaited. This upgrade aimed to mitigate the spike in gas fees and disruptions caused by chain reorganizations.
- In the last quarter, Polygon’s partnership with Nubank, backed by legendary investor Warren Buffet, has sparked positive reactions among stakeholders and is seen as a substantial development for the network.
- Fractal, the NFT platform focused on gaming created by Justin Kan, co-founder of Twitch, is looking to increase its reach by incorporating the Polygon network. This move aims to enhance the platform’s accessibility to users.
|⧉ Coin Name||Polygon|
|🔆 Coin Symbol||MATIC|
|⏳ Price Change 1h||1.22%|
|🌕 Price Change 24h||0.25%|
|💵 Market Cap||$9,982,172,762|
|🌐 24h Volume||$303,191,355|
|🔄 Circulating Supply||9,080,469,069|
|💰 Total Supply||10,000,000,000|
Polygon Price History
Since its launch in 2017, the MATIC project (which rebranded to Polygon in February 2021 for more global brand recognition) is up over 100,000%. Its native cryptocurrency still has the ticker symbol MATIC. The initial price of MATIC coin was $0.002, when it first started trading on crypto exchanges.
In 2021, MATIC had one of its strongest years. The token soared from a price of $0.0175 to $2.5, equating to a price jump of more than 14,000%. The MATIC bull run coincided with the overall bullishness in the cryptocurrency space, which saw the total crypto market cap rise to $3 trillion, following the success of Bitcoin and Ethereum.
However, the token corrected in 2022, from a price of $2.50 to $0.76. But, Polygon is looking to regain momentum in 2023.
Since the start of the year, the token has moved from the $0.76 mark to a current price of $1.16 per token. At present moment, Polygon has a market cap of $10.4 billion.
Polygon Price Summary
- MATIC began trading at $0.002 when it went live in 2017.
- In 2021, the token grew by more than 14,000%. The token reached an all-time high of $2.92.
- MATIC corrected down to $0.76 by the end of 2022.
- Currently, the token is trading at $1.16, with a market cap of more than $10 billion.
MATIC Price Prediction 2023
MATIC’s resurgence since the broad-based market sell-off in May has been noteworthy. However, a shift in trend is possible if investors opt to realize their profits. This is mainly because many have seen a decline in their holdings during the ongoing crypto market slowdown.
Over the last year, there was a noticeable rise in the network activity, with the number of active addresses reaching a new peak of 6 million. As per Messari’s latest state of polygon report, the number of new addresses experienced an over 180% quarter-over-quarter increase, with unique addresses exceeding 170 million and transactions exceeding 2 billion.
Moreover, MATIC bulls are striving to break through the $1.3 barrier at the time of writing. Should the bulls cross the $1.3-$1.7 high liquidity range, the coin could see a strong rally in the coming months. As a result, it may peak at as high as $2.6 by the end of 2023.
MATIC Price Prediction 2024
In the bullish case for Polygon, the next Bitcoin halving is in 2024, and the previous halving sparked the Bitcoin bull run to $69k from $10k. The total crypto markets also rose in valuation to $3 trillion, increasing the USDT prices of most major blue chip altcoins.
Polygon has also recently allocated $1 billion and successfully secured an additional $450 million to concentrate on various ZK-scaling initiatives. This approach permits various teams to test scaling techniques while promoting close collaboration and exchanging information.
Thus, the medium-term outlook for MATIC appears to be positive. The coin may sustain its upward trajectory toward the $4 level with a few temporary declines.
MATIC Price Prediction 2025
Several experts have diverse opinions regarding the consequences of the eagerly awaited Ethereum merger set to occur next month. Some think that once ETH 2.0 is launched, it may render scaling solutions irrelevant or of reduced significance.
On the other hand, a segment of experts contends that the merger will enhance Ethereum’s eco-friendliness by lowering energy usage, thus making layer 2 scaling solutions like Polygon more attractive to investors as an environmentally conscious crypto option. Additionally, MATIC is expected to experience a surge in value since the Ethereum merger will not impact its controversial high gas fees, highlighting Polygon’s utility.
All in all, it appears that XRP has a promising future ahead, and our XRP price forecast for 2025 predicts that the coin could attain a value of $6.
MATIC Price Prediction 2030
The most optimistic investors in Polygon speculate that it could one day flip Ethereum. That may not be realistic however, it’s based on the high gas fees of Ethereum. Polygon has lower transaction costs.
While at one point, Ethereum had a high, almost 100% dominance across the DeFi space, that has increasingly been reduced by the rise of Layer-2 DeFi projects like Polygon, Solana, Polkadot, and others.
The key elements that will impact MATIC’s price in the upcoming years include the effective implementation of zero-knowledge EVMs, expansion into new blockchain systems, and the rise in the number of dApps hosted on the network. keeping these factors in mind, MATIC could continue its path forward and enter the $10-$14 range.
Potential Highs & Lows of MATIC
The table below summarizes our MATIC price prediction for the years ahead:
|Year||Potential High||Potential Low|
What is Driving the Price of Polygon?
Recent Polygon price changes were likely to be triggered by news and media announcements:
- 29 December 2021 – Polygon revealed that two white hat hackers had exposed a critical network vulnerability which it then fixed on 3 December. Polygon said the malicious hacker was able to steal more than 800,000 MATIC tokens before the network upgrade took effect. It added that it had paid around $3.46 million as a bounty to the two white hats who helped discover the bug.
- 10 January 2022 – Polygon revealed Plonky2, what it called a major milestone for zero-knowledge cryptography. Plonky2 is a recursive SNARK (a cryptographic proof that one user has some specific information without having to reveal what that information is) that is ‘100x faster than existing alternatives and natively compatible with Ethereum.’
- 27 January 2022– Polygon revealed that in December it had over 7000 dApps active on the MATIC network, twice the amount of three months before. It stated that after increasing congestion on the Ethereum blockchain and high gas fees, many DeFi and non-fungible token (NFT) projects had moved over the Polygon blockchain instead.
- 7 February 2022 – Polygon raised a $450m war chest through a private sale of its MATIC tokens to pave the way for the mass adoption of Web3 applications. The founding round was led by Sequoia Capital India and included over 30 other investors such as SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, and Tiger Global. It said the funds will also allow it to continue investing in zero knowledge (ZK) technology that it said ‘will be key to onboarding the next billion users to Web3.’
- 23 February – Wirex, a payments platform and non-custodial cryptocurrency wallet, announced it is going live on Polygon ‘to bring low fees and high transaction speeds to more than 4.5 million users across its ecosystem.’ Wirex customers in 130 countries can use the mobile app to store their cryptos.
- 10 October 2022 – Polygon announced the public testnet launch of its zero-knowledge Ethereum Virtual Machine. October turned out to be a bullish month for MATIC, as the token soared by over 16%.
- February 2023 – Recent on-chain data revealed, however, revealed that top whales are contributing to the selling pressure. The price may continue to slump if the whales continue their selling spree. Investors must pay close attention to the macroeconomic conditions affecting the altcoin market to gauge the chances of a strong recovery.
Polygon vs Ethereum
Polygon exists above Ethereum as a Layer 2 blockchain. The Ethereum blockchain lying below is the one that ultimately secures and processes transactions -but to increase the number of transactions per second that a network can process, developers are now also designing secondary layers on top of existing blockchains.
Also being called the ‘Internet of Blockchains’, the aim of Polygon is to connect various blockchain projects on Ethereum. All these projects have different features but they aren’t necessarily interoperable. Polygon is not the only one attempting that use case – there are other projects moving in the same direction, like Polkadot and Cosmos. By being compatible with Ethereum, Polygon aims to improve upon it and eventually tap into the second-largest blockchain’s ecosystem and security.
To simultaneously secure the network as well as mint new coins with time, Polygon uses the proof-of-stake consensus algorithm. This method requires users to lock up their tokens so that they can be nominated randomly to validate new blocks of data.
Future of Polygon – What’s Next for MATIC?
The Polygon Network has transformed decentralized finance (DeFi) and NFTs because it is a fast, efficient, and cheap scaling solution for the Ethereum blockchain. It has simplified and amplified access to NFTs, some of which are Polygon based NFTs.
As more people venture into DeFi and NFTs, the Polygon user base will expand due to its cheap transaction fees. This surge in onboarding will be through L2 networks like Polygon, as institutions begin building on them. The biggest NFT marketplace, Opensea, has over 350,000 total accounts registered on it. The potential number of market participants for NFTs is much higher.
One of the biggest downsides of the Ethereum network, which often turns potential buyers away, is the transaction fees. L2 solutions to gas fees were inevitable.
Even Coinbase has now launched its own NFT Marketplace, ‘Coinbase NFT’, and may support the Polygon Network. After Coinbase’s venture capital investment in Polygon, an announcement of integrating Polygon for trading was made.
How to Buy Polygon
eToro is an FCA, ASIC and CySEC regulated crypto platform that makes it possible to buy, sell and trade Polygon securely. eToro listed MATIC in June 2021.
eToro also has an Academy with educational material for beginners to learn to trade and invest, and the option to copytrade professionals trading MATIC.
As a social trading platform, all users have a Facebook-style wall and news feed where they can post their thoughts on the market as well as get Polygon price predictions from other users on the platform.
Currently 685,000 eToro users are following the Polygon price action, with 5.74% of those investing in Polygon. Some of those will post their own Polygon price forecast to their profile.
Cryptoassets are a highly volatile unregulated investment product.
Is Polygon the Best Coin to Buy in 2023?
While Polygon is one of the biggest altcoins in the space, we recommend Fight Out as the new top cryptocurrency to invest in right now.
Fight Out ($FGHT) – Emerging M2E Coin To Buy to Receive up to 25% Purchase Bonus
With a mission to redefine the Move-to-Earn space, Fight Out has created a fitness app that rewards users for completing their daily workouts.
Within days of the launch of its presale stage, Fight Out has already hit a milestone by raising over 5.1 million USDT in a relatively short time. Investors can consider buying $FGHT at a presale price of 0.02610 USDT per token to fetch a high ROI when the price increases in the future. Especially, with CEX listings planned from 5 April, the price will rise to 0.033 USDT per token.
The project has also built a metaverse to gamify fitness and reward users. It enables users to create their Soulbound NFT avatars. These avatars’ data stats will correspond in direct relation to the users’ real-life fitness performance. Consequently, users can socialize with other community members and also compete with them in Fight Out’s metaverse.
Fight Out has also devised its in-app, off-chain currency known as REPS to reward its users for doing in-app fitness challenges. REPS can be utilized to get access to membership discounts, buy cosmetic NFTs, and so on.
Users should read Fight Out’s whitepaper to get a deeper understanding of the project’s features.
$FGHT Tokenomics & Purchase Bonuses
$FGHT is a limited supply token based on the ERC-20 standard. From its total supply, 900 million tokens are available for sale through Fight Out’s presale stages.
Investors buying $FGHT in the presale stages would also get purchase bonuses that start from 10%. To claim the bonus, buyers need to start with an investment of merely $500 with 6 months of vesting. Also, buyers can get membership rewards if they stake more tokens or stake them for a longer time.
Buyers can also receive up to 50% additional tokens as rewards for buying $FGHT. To stay on top of the latest updates, buyers can consider joining Fight Out’s Telegram channel.
14 December 2022
Fight Out - Next Big Train-to-Earn Crypto
Fight Out - Next Big Train-to-Earn Crypto
Many investors have made bullish Polygon price predictions of up to $10 and even beyond, although its 60% correction since its last ATH could continue in the short-term. You can bounce ideas off other investors following the MATIC price action social trading platform eToro.
Keep a diversified portfolio and split your crypto investment funds up into several projects. Partly the major blue chip cryptos like BTC and ETH, partly middle range projects like Solana and Polygon, and partly low market cap coins that are early in their roadmap.
To beat the short term price volatility, you can earn up to 16% interest on your MATIC holdings on Nexo, as well as interest on BTC, ETH, and other cryptos.
In addition to Polygon, Fight Out ($FGHT) is a popular new cryptocurrency project to invest in right now audited by CertiK and still in the mid stages of its presale.
Fight Out - Next Big Train-to-Earn Crypto
Fight Out - Next Big Train-to-Earn Crypto
What is Polygon?
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