Polygon (MATIC) Price Prediction 2022

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Polygon (MATIC) is different from many other cryptocurrencies on the market. Instead of running on its own blockchain, Matic tokens are traded on the Ethereum blockchain. This is because Polygon was developed to help scale Ethereum through side chains. Polygon, sometimes referred to as “Matic” and using the “MATIC” ticker, is the token of the Polygon network.

What is the MATIC polygon?

GOBankingRates describes Polygon as “an express train”, which runs the same track as the other sidechains on the Ethereum track but goes faster and with fewer stops. Polygon uses a proof-of-stake architecture to process transactions, making it faster and more efficient than other blockchain networks. Some investors see its dependence on Ethereum as an advantage, while others see it as a disadvantage.

In fact, Polygon’s website describes the network as “Ethereum in the fast lane”.

Matic allows you to bet on the Ethereum blockchain and also pay for transactions using the currency. This has helped reduce the high transaction costs inherent in the Ethereum blockchain, helping to drive widespread adoption. It supports the creation of decentralized apps and smart contracts, while leveraging the benefits of Ethereum’s excellent security protocols.

Polygon is also greener than many other cryptocurrencies, aiming to become carbon-negative in 2022 and “climate positive” in the future. This alone could help drive Polygon adoption and attract investor favor.

Users can deposit Matic from the Ethereum network, interact with the tokens and then withdraw the coins on the Ethereum blockchain.

As of June 2022, Polygon has a market capitalization of over $ 5 billion, with nearly 8 billion Matic coins in circulation, according to CoinMarketCap.com.

All this bodes well for Matic’s future. But you may still have questions. Can Matic reach $ 10? How much will Matic be worth in five years?

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Polygon Matic price prediction for 2022

First, let’s explore the outlook for the short-term Matic coins. CoinMarketCap.com claims that Matic is worth around $ 0.63 on June 9, 2022. That’s a 4% increase from the previous day. It is monitoring the increases for both Bitcoin and Ethereum over the course of the day.

It’s much closer to its one-year low of around 50 cents than its one-year high of nearly $ 3, according to data from CoinMarketCap.com. But that means it might be a good value to buy right now. But what are Matic’s price predictions for the rest of the year?

The Changelly.com blog said it has a chance to break the past record of $ 2.92 to reach a new all-time high, but only if it can overcome the “psychological resistances” of bearish investors.

WalletInvestor.com said it thinks Matic could hit $ 4.57 by the end of 2022. But it could also stagnate closer to its all-time high, hitting just $ 2.87 by the end of the year.

DigitalCoinPrice.com sees less of a leap. The site predicts that Matic will reach just $ 0.86, at the latest by the end of the year.

Gov. Capital.com is more optimistic, thinking Matic could break $ 4 per coin by the end of the year and hit $ 4.55 by mid-2023.

How much will Matic be worth in five years?

Looking ahead in five years to 2027, DigitalCoinPrice.com sets the price of Matic at $ 1.20 at the low end and $ 1.66 as the maximum price. This Matic price prediction looks low, however, compared to the coin’s 1-year growth.

It also looks low when you consider the many elements that seem to make Matic a good investment.

It is also important to remember that the cryptocurrency market leaves a lot of room for correction, with coins falling substantially before reaching another bullish cycle. Matic has plenty of room to stand up. It has already come a long way since its inception when it hit the market at just $ 0.004 per coin.

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Business2Community.com reported that Matic has already retraced 66% of what it lost in 2022. Meanwhile, Bitcoin, which tends to lead the cryptocurrency market, has retraced 53% and Ethereum, the blockchain on which Matic is based , retraced 56%.

Of course, cryptocurrency is highly volatile and investors should always proceed with caution. Never invest more than you would like to lose in speculative investments like meme stocks and cryptocurrency.

Fundamentals that guide the polygon upwards

The ability to trade non-fungible tokens, or NFTs, on the platform is working in Polygon’s favor. Matic has the support of big brands like Adidas and Prada in an NFT charity project called Adidas for Prada Re-Source. The project asks fans to submit their art, which digital artists will combine into a mega NFT consisting of 3,000 images. The proceeds from the sale of the NFT will be donated to charity.

According to FXEmpire.com, play-to-earn games, Polygon’s highly efficient proof-of-stake process, and overall ecosystem growth could also help drive up the price of Matic coins. Some investors see Matic as a long game with great future potential.

Can Matic reach $ 10?

How optimistic are investors and analytics? Can Matic reach $ 10? How rich could you become by investing in Matic?

Although most experts have more conservative forecasts, TradingEducation.com predicts that Matic could simply not reach $ 10 by 2025. The global financial education site said Matic could reach $ 15.13 by the end of 2025 and reach $ 54.85 by the end of 2030.

DigitalCoinPrice.com, however, is more conservative, predicting that the coin will only hit a high of $ 2.98 at best by 2030.

Either way, if you were to buy Matic today at its price of around 63 cents and invest $ 1,000, you’d have 1,587 shares. By 2030, you could have a low of $ 4,729.26. If you believe TradingEducation.com’s Matic price prediction, you’d be sitting on inflation of $ 381,059.49.

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Conclusion

Are you ready to take this risk and invest a little bit in Matic now? Very few analyst scenarios see Matic drop to zero within the next six months, or even 10 years. But investing in cryptocurrency always comes with risks.

Matic could be one of the best cryptocurrencies to buy and hold right now, thanks to its low price and optimistic outlook regarding the platform’s fundamentals and partnerships, not to mention its eye on sustainability. GoBankingRates.com puts Polygon Matic at number 6 on its list of 10 cheap cryptocurrencies to buy.

You can buy Matic on many cryptocurrency exchanges, including Binance, Coinbase Pro, and UniSwap.

Information correct as of 10 June 2022.

Our in-house research team and on-site financial experts work together to create accurate, unbiased and up-to-date content. We check every single statistic, quote and fact using reliable primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.

About the author

Dawn Allcot is a full-time freelance writer and content marketing specialist who is passionate about finance, e-commerce, technology and real estate. Her long list of editorial credits includes Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology and entertainment website. She lives in Long Island, New York, with a real menagerie that includes 2 cats, a rowdy kitten and three lizards of various sizes and personalities, as well as her two children and her husband. Find her on Twitter, @DawnAllcot.

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