Polygon Price Prediction 2024, 2025, 2030 - The future of MATIC

In this article we will overview the main characteristics of the Polygon project and its MATIC coin. We'll also take a look at the company's rivals, different price forecasts from crypto services and much more.

Disclaimer: SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

What is MATIC Crypto?

It is a revolutionary crypto platform with its own token, which also acts as a technology bridge for connecting and expanding blockchain networks. Think of it as the "internet of blockchains" for Ethereum, firstly launched as Matic Network.

The uniqueness of the project lies in its seamless integration with the Ethereum, enabling connections for ETH-based projects. By utilizing Polygon, companies gain enhanced flexibility, scalability, and sovereignty while retaining the utmost security, interoperability, and structural advantages of Ethereum.

MATIC itself is an ERC-20 token, making it compatible with other Ethereum-grounded currencies. Its primary functions include governing and securing the network, as well as acting as payment for network transaction fees.

One of the standout features of the project is its modified PoS mechanism, enabling consensus to be achieved with every block. Unlike traditional PoS, which requires processing numerous blocks to achieve consensus, Polygon's method demands participants to stake (hold) their MATIC, abstaining from trading or selling it. In return, they gain the privilege to validate transactions within the network. Successful validators are duly rewarded with MATIC.

In the pursuit of addressing Ethereum's limits — like high transaction fees and sluggish transaction processing speeds — Polygon stands as a secondary scaling solution. It fulfills its mission through several essential functions:

1. Rolling out existing networks and crafting custom blockchains.
2. Enabling smooth communication between Ethereum and other blockchains.
3. Assisting existing blockchain networks in becoming compatible with Ethereum.

The company representatives claim that with Polygon, blockchain tech takes a giant leap forward, fostering a more interconnected and scalable ecosystem for all.

Polygon’s rivals

The competition in the crypto sector is fierce and unyielding. As the popularity of cryptocurrencies continues to soar, countless projects and platforms are vying for dominance. Each one offers unique features, benefits, and use cases, making the market a battleground of innovation and ideas.

New cryptocurrencies constantly emerge, challenging the established players and aiming to carve their own niche. Whether it's creating faster and more scalable blockchains, developing innovative DeFi protocols, or introducing eco-friendly consensus mechanisms, the competition drives the industry forward and compels projects to stay on their toes.

Investors and users have multiple options to choose from, which intensifies the competition further. As a result, crypto projects must strive to differentiate themselves, prove their worth, and build trust within the community. Only the most robust and promising projects are likely to withstand the fierce competition and stand the test of time in this dynamic and ever-evolving crypto landscape. This is why it’s so important to be aware of the rivals of each project you would like to invest in. So let’s learn about Polygon's potential competitors.

• Immutable X (IMX)

Immutable X (IMX) stands out in the NFT space by utilizing ZK roll-up technology from Starkware, which improves upon zk-SNARKS by eliminating the need for a trusted setup. This advancement allows for a staggering 9,000 NFT transfers, trades, or mints per second without incurring any gas fees. As a result, they surpassed Polygon in NFT volume and have become a force to be reckoned with in the metaverse and gaming sectors. IMX boasts a robust blockchain gaming roster, further solidifying its position in the market.

• Arbitrum (ARB)

Arbitrum, another L2 solution built on ETH, offers faster transactions and more affordable gas fees compared to the Ethereum network. Like IMX, it leverages Ethereum's security and consensus mechanism. However, Arbitrum employs an Optimistic Roll-up approach, bundling batches of transactions and depositing them on Ethereum, resulting in less computational complexity. In terms of Total Value Locked (TVL), Polygon currently ranks #5 with $1.25 billion and hosts 323 protocols, while Arbitrum follows closely at #6 with $978 million and serves 127 protocols.

• Celer (CELR)

Celer Network, an L1 blockchain interoperability protocol, focuses on finance and offers an L2 solution using zk-Starkware solutions. They are well-known for their cBridge, which supports over 110 tokens and 30+ blockchains, making interoperability their primary strength. Despite facing a hack during a DNS attack in August, with losses amounting to $240K (unusually low for a bridge hack), Celer maintains a strong ecosystem and partnerships, particularly for the cBridge. The platform's transaction volume has now exceeded $10 billion.

To understand what position Polygon takes in this race, we should see its strengths: 

1. It excels in processing transactions swiftly, thanks to a consensus mechanism that accomplishes confirmation within a single block. With an average block processing time of just 2.1 seconds, it ensures efficient and speedy transaction processing.
2. Another advantage lies in the firm's commitment to maintaining consistently low transaction fees. Users benefit from affordable platform fees, with the typical transaction costing around $0.01. 

Polygon's weaknesses include:

1. It operates as a Layer 2 solution built upon the Ethereum platform, which poses a potential risk. In the event of serious disruptions or the discontinuation of Ethereum, Polygon's value and functionality could be at stake, as it heavily relies on Ethereum's stability.
2. Moreover, the native token, while crucial for governing and securing the Polygon platform and paying transaction fees, has limited use cases beyond its ecosystem. Unlike some digital currencies widely adopted for everyday purchases, its primary utility centers around its role within Polygon. Exploring broader uses for MATIC could enhance its appeal and long-term potential.

The Foundation of Polygon

The concept originated during the rise of "CryptoKitties", one of the first popular NFTs, back in late 2017 and early 2018. During this period, CryptoKitties caused congestion on the Ethereum blockchain due to an overwhelming number of transactions, leading to disruptions and increased transaction costs.

Recognizing the immense potential of blockchain technology to foster trust and connections among people without intermediaries or guarantees, the founding team behind Polygon saw an urgent need for scalability in the cryptocurrency world. To address this challenge, they embarked on creating their own project aimed at providing a solution. Their primary goal was to enhance scalability, while also striving to achieve low transaction costs, high speed, and improved usability for dApps on the Ethereum network — a real boon for the DeFi sector.

Originally named Matic, the protocol underwent a transformation in February 2021, adopting the name Polygon to signify its evolution into a comprehensive Layer-2 aggregator. This change marked its ambition to encompass not only the entire Ethereum-compatible ecosystem but also expand beyond those boundaries, opening up new possibilities for the cryptocurrency industry. Now let’s see who stands behind the project.  

• Jaynti Kanani

Hailing from the outskirts of Ahmedabad, India, Jaynti pursued his passion for computer engineering and graduated from Dharmsinh Desai University in 2011. He delved into blockchain technology and Bitcoin's potential while working as a programmer at Persistent System. His involvement with startups in the crypto sector, along with his interest in facilitating global money movement through apps, laid the groundwork for his role in co-founding Matic in 2017. Alongside Sandeep Nailwal and Anurag Arjun, Jaynti helped shape the vision for what eventually became Polygon.

• Sandeep Naiwal

An accomplished software developer and entrepreneur from India, Sandeep made headlines when he founded the India Crypto Covid Relief Fund in 2021 to aid those affected by the pandemic. He earned his MBA in supply chain management from the prestigious National Institute of Engineering in Mumbai in 2014. In 2017, Sandeep's interest in cryptocurrencies led him to join the founding team of Matic as its COO, playing a vital role in the project's development.

• Anurag Arjun

Hailing from Bengaluru, India, Anurag is a billionaire in the cryptocurrency industry. He completed his studies in computer engineering at Nirma Institute of Technology. Starting his career at Cognizant in 2006, he later worked as a product manager at Dexter Consulting for five years. Anurag joined Matic in 2017 as a product manager, spearheading the project's roadmap, team management, and integrations between Polygon and other dApps.

Polygon token functions

MATIC serves a variety of crucial functions and plays an essential role within the ecosystem. Here are its key functions and uses:

Governance

MATIC holders have the power to participate in the governance of the Polygon network. They can vote on proposals and decisions that impact the platform's development, upgrades, and overall direction.

Network security

As a native token of the Polygon network, the token plays a pivotal role in ensuring the platform's security and integrity. Validators on the network are required to stake their tokens as collateral to validate transactions and maintain the network's consensus.

Transaction fees

It is utilized to pay for transactions and other operations on the network. Users may spend tokens as a transaction fee whenever they interact with DApps or transfer assets on the platform.

Rewards

Validators and delegators who actively take part in securing and maintaining the Polygon network receive rewards in the form of MATIC. This incentivizes active participation and contributes to the overall network's health and security.

Polygon Development Roadmap

The team is now introducing Polygon 2.0:

With the introduction of Polygon 2.0, the team envisions a transformative future for the platform, aiming to elevate Ethereum to Internet-scale capabilities. Inspired by the concept of data exchange being accessible to anyone, Polygon 2.0 takes this notion further by proposing a protocol that empowers individuals globally to create, program, and exchange value seamlessly.

At its core, Polygon 2.0 seeks to democratize the world of blockchain and decentralized finance, enabling a borderless ecosystem where anyone, regardless of their location, can participate in the creation and exchange of digital assets and value. This ambitious vision strives to break down barriers and foster a more inclusive and interconnected financial landscape.

By leveraging the innovative features of Polygon's protocol, Polygon 2.0 endeavors to enhance scalability, efficiency, and accessibility, making it easier for developers and users to engage with the platform. The proposed upgrade aims to unlock the true potential of Ethereum, making it a cornerstone of the Internet-scale economy, where the exchange of value becomes as effortless as sharing data.

Where and how to buy Polygon?

Want to buy MATIC? Ensure you are aware of all the important information about the project and its token first. If its done and you still plan to invest into Polygon, you may easily buy MATIC via SimpleSwap:

1. Pick the crypto you’d like to swap (e.g. Bitcoin).
2. Enter the number you want to exchange.
3. Select MATIC in the second drop-down list. You’ll see the estimated amount that you will get after the exchange.
4. Click the Exchange button.
5. Enter the Recipient's Address. MATIC will be sent there. Check the address you entered — it’s important!
6. Create the exchange.
7. You’ll see the BTC deposit address. You have to transfer the necessary sum of BTC to this address to start the exchange. Then wait for tokens to arrive at your wallet.

To see how high will Polygon go, we need to follow the price predictions for MATIC. Let’s move on to the numbers. 

Polygon Price Chart

During the last month MATIC faced a good increase in price. It hit $0.87 on July 14. But it is still quite far from the all-time high $2.92 that occurred in 2021. Here’s the current MATIC price: 

*Information given above as of March 12, 2024.

Polygon Price Technical Analysis

Polygon (MATIC) has demonstrated a downturn movement  since February 2023, experiencing a local low on September 11. Subsequently, the price demonstrated a noteworthy uptrend, breaking the trading line and surging to a peak of $1.09. This upward movement was accompanied by heightened trading volume, signaling increased bullish sentiment and growing interest in the asset.

Despite the initial surge, MATIC faced challenges in maintaining above the resistance zone, prompting a retracement back into the prior trading channel. Currently, the price is positioned below the point of control level, as well as the 50 and 100-day moving averages. The 200-day MA may serve as a potential support for MATIC in the near term. The RSI indicator on the daily timeframe is situated in the neutral zone, indicating the potential for further price decline.

MATIC Technical Analysis. Source: TradingView

Polygon Price Forecasts Comparison

As of March, 2024, different crypto forecast services shared their price predictions for MATIC. Let's see the figures they delivered.

• Bitnation:

“Polygon will achieve a maximum price of $1.33 as the market starts to recover. The minimum expected price is $0.889 and the average price will hover around $1.11.”

• Coincodex:

“Based on the historical price movements of Polygon and the BTC halving cycles, the yearly low Polygon price prediction for 2024 is estimated at $ 0.737. Meanwhile, the price of Polygon is predicted to reach as high as $ 3.94 . Using the same basis, here is the Polygon price prediction for each year up until 2030.”

• Cryptopredictions:

“Polygon is forecasted to be worth on average $1.146 by the beginning of 2025 (January). In the years that follow - 2026, 2027, 2028 the MATIC price is predicted to be in January worth on average $1.396, $1.707, $2.015, respectively.”

Based on the aforementioned predictions, we can create a comparative table to facilitate comprehension. Presented below are the average annual values:

This is the forecast for Polygon given by the various crypto prediction services.

According to Bitnation, MATIC is predicted to be valued at $1.11 by 2024, $2.60 by 2025, and $6.30 by 2030. These projections suggest significant growth potential for MATIC over the long term.

Coincodex's predictions indicate that MATIC may be priced at $0.954897 by 2024, $1.22 by 2025, and $1.63 by 2030. While still forecasting growth, these projections are relatively more conservative compared to Bitnation's estimates.

Cryptopredictions provides another Polygon forecast. It is expected to be valued at $0.956 by 2024, $1.541 by 2025, and $4.67 by 2030. These projections also suggest a promising future for MATIC, with substantial growth potential over the years.

It is important to remember that these predictions are based on the available data at this time. The future of Polygon can not be forecasted with 100% accuracy. The market is very volatile and affected by different factors, including market sentiment, adoption rates, technological developments, and regulatory changes. Investors should do their own research before buying any cryptocurrency. 

It's important to note that these price predictions are based on the available data and analyses performed by these services. However, it's crucial to understand that the crypto market is highly volatile.

Polygon Price Forecast 2024-2040

Learn about Polygon coin price prediction 2024-2040 below:

Polygon Price Prediction 2024

Considering the strong positioning of Polygon (MATIC) as a leading blockchain solution and its expanding adoption across diverse use cases, including DeFi, NFTs, social projects, and financial technologies, the outlook for MATIC in 2024 appears promising. Additionally, the ongoing development of layer-2 solutions built on the Polygon network could contribute to the upward trajectory of the MATIC token. Based on this analysis, there is a potential for MATIC to reach $1.56 in 2024.

Polygon Future Price prediction for 2025

The anticipated continuation of a potential bull run in 2025 is expected to contribute to the further growth of Polygon (MATIC). With a strong fundamental basis and potential new partnerships with both blockchain and off-chain businesses, the value of the MATIC token could reach $2.39.

Polygon Future Price prediction for 2026

Looking ahead to see how much will Polygon be worth in 2026, token's maximum price is anticipated to reach $3.843, indicating significant growth and potential adoption within the cryptocurrency market. That’s the Polygon coin price prediction 2026. 

Polygon Price Forecast 2030

By 2030, the maximum price is projected to be $5.532, showing a steady increase and establishing Polygon as a prominent player in the blockchain space.

Polygon Price Prediction 2035

Looking even further into the future, the maximum MATIC coin price prediction is expected to rise to $8.034 by 2035 and reach $13.146 by 2040, suggesting sustained growth and recognition of MATIC's value and utility.

Polygon Price Prediction 2040

By 2040, there is a chance that MATIC will increase to approximately $13 or more. This prediction reflects a longer-term perspective on the project's potential growth trajectory.

A Historical look at MATIC's price

The MATIC’s all-time high occurred in December 2021. Back then, the price was $2.9232. The all-time low of this coin happened in May 2019. The lowest price of MATIC was $0.003012. 

Polygon/USD Pair

Polygon/EUR Pair

Should you consider buying Polygon?

If you’re wondering the logical question before purchasing the coin — “does Polygon have a future?”. 

In our subjective opinion, Polygon has a promising future, as it offers several advantages that position it as a valuable project in the blockchain space. One of the key strengths of Polygon is its focus on scalability and interoperability. As a layer 2 scaling solution for Ethereum, Polygon addresses the network's scalability issues, enabling faster and cheaper transactions. This enhancement is crucial, considering Ethereum's congestion and high gas fees, making Polygon an attractive alternative for DApps and users seeking efficiency.

The project provides a seamless bridge between different blockchain networks, promoting interoperability. This cross-chain compatibility allows assets and data to move freely between different ecosystems, expanding the utility of Polygon and increasing its potential use cases.

MATIC, the native crypto of the network, plays a crucial role in the ecosystem. It is used for transaction fees, staking, and participating in the network's governance. As the demand for company's services grows, the utility and value of MATIC are likely to increase.

So, is Polygon a good investment? You should decide for yourself. Do your own research and check out the Polygon coin price prediction to make a final decision.

Conclusion: The future of MATIC

Future of Polygon seems to be promising due to its scalability, interoperability, and community-focused approach. With its MATIC token playing a big role in the ecosystem's functionality and governance, Polygon's growth potential remains considerable in the evolving blockchain landscape.looks promising, but it will be important to closely monitor its progress and how it navigates the evolving landscape of blockchain technology.

Polygon Price Forecast FAQs

Let's answer some of the questions crypto investors often have about Polygon.

Can Polygon reach $10,000?

The price of MATIC is expected to increase, as we check the Polygon coin price prediction. It is hard to exactly say how high will Polygon go, but the chances that it will hit $10k someday is low. 

Is Polygon bullish or bearish?

As of March 2024, MATIC is more bullish than bearish thanks to the market growth caused by the rise in Bitcoin price. However if we see the Polygon forecast, we can see the bullish signs there. 

Does Polygon coin have a future?

Yes, it has a promising future.  

What will be the value of Polygon in 2030?

According to Polygon coin price prediction, the price of MATIC in 2030 could reach $5.532. 

Is Polygon expected to rise?

If we check out the Polygon coin price prediction, we can see that the price of native currency of Polygon is expected to rise in the near future.