What is Polygon (MATIC)?
MATIC is a native token of a Polygon platform. It is an ERC-20 token which is important because the main purpose of Polygon is to bring together Ethereum-compatible blockchains to create a multi-chain system. This will significantly change a transaction process, and make it cheaper and faster.
MATIC has two main roles in the system: to serve as payment for services within the Polygon platform and to be a settlement currency between people who operate there. In case someone wants to have this token, they would have to purchase it, because MATIC is a non-minable token. It is released monthly, and all tokens should be released by December 2022.
Let’s take a look at some MATIC statistics represented on coinmarketcap.com (as of 24/06/2021):
- MATIC price is $1.14
- Market capitalization is $7,323,532,772.12
- Volume (24h) $1,452,686,698.01
- Circulating supply 6,293,422,325 MATIC
- Total supply 10,000,000,000 MATIC
- Max supply 10,000,000,000 MATIC
- 24 Hour High $1.25
- 24 Hour Low $1.03
The Polygon roadmap does not consist of particular timing slots. However, there is a certain goal that the founders are eager to achieve. This purpose is to make it possible for independent blockchains to connect into one multi-chain. It should bring a set of interesting features into the DeFi world. The most significant thing is interoperability, an opportunity to create bridges to external systems and to exchange tokens, contracts, messages, etc. faster.
So far developers are focused on building partnerships with other chains.
Crypto community about MATIC
The Polygon community is very supportive in spite of all the problems the platform had.
We can also suppose that MATIC has turned into a quite hot topic, and the community plays not the least role in this.
Moreover, it seems that Polygon is rather comfortable to use to create NFTs.
MATIC price prediction 2021
This year has started very positive for the MATIC crypto, but recently we have witnessed a huge downfall. Let’s take a look at what the future keeps for the second half of this year.
According to TradingBeasts.com we will see the following price change (as of 24/06/2022):
Minimum MATIC price for 2021: $1.259
Maximum MATIC price for 2021: $1.959
Average MATIC price for 2021: $1.522
Year-end MATIC price predictions 2021:
Minimum expected: $1.332
Maximum expected: $1.959
Average expected: $1.567
Here is the prognosis of WalletInvestor.com (as of 24/06/2022):
Minimum MATIC price for 2021: $2.548
Maximum MATIC price for 2021: $3.38
Average MATIC price for 2021: $2.964
Year-end MATIC price predictions 2021:
Minimum expected: $3.995
Maximum expected: $4.842
Average expected: $4.413
Digitalcoinprice.com also sees the future of MATIC in a very positive way (as of 24/06/2021):
Average MATIC price for 2021: $2.045
Average year-end MATIC price expected: $1.67
Polygon (MATIC) price prediction 2022
2022 seems to be quite a promising year. MATIC will follow the upgoing trend. Different sources promise different results by the end of the year. For example, TradingBeasts.com and Digitalcoinprice.com agree that the price will not overcome the $2 mark. At the same time, analysts from WalletInvestor.com promise a significant increase up to $10.
Polygon (MATIC) price prediction 2023
In 2023 TradingBeasts.com predicts continuous growth to $1.5 by the end of the year. WalletInvestor.com also foresees an increase of a price, however, a little more optimistic. The analysts of this resource believe that MATIC will start the year at $10 and will continue its growth up to $15. Digitalcoinprice.com analysts expect the price of MATIC to fluctuate around $2.3. Nonetheless, by the end of 2023 we may witness a slight increase up to $2.6.
Polygon (MATIC) price prediction 2025
In 2025 the positive trend will continue. WalletInvestor.com predicts a stable growth throughout the year. Digitalcoinprice.com foresees an increase to $3.99.
Some experts believe that if MATIC will preserve the current trend, by the year 2025 its price will overcome $20 mark.
Historical price analysis
All Time High: $2.68 (May 18, 2021)
All Time Low:$0.003012 (May 09, 2019)
If we take a look at the price graph, we will see that up to May 2021 MATIC had a very promising upgoing trend. However, in May and June 2021 it showed a very significant rise followed by a huge dip. One of the reasons for that may have been an attack on the TITAN token. This is a share token that belongs to Iron Finance, and it began a bridging to the Polygon protocol on May 18. At a certain point TITAN’s price rose to $65 and then fell to $0. Big investors started to withdraw their savings and that caused a bank run. Such an abnormal activity has all the chances to destabilize the system for some time.
Right now MATIC is continuing a downward trend. At the same time with huge support from its community and all kinds of activities the team has now to motivate demand, MATIC has an opportunity to recover and stabilize at a better level.
We hope that this article helped you to understand MATIC price trends better!
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