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Polygon is an interesting cryptocurrency project based on the Ethereum network that has had an extraordinary performance the last two years, creating new millionaires in the digital world and investors. What does 2023 hold for Polygon and its network? What will MATIC's performance be between now and 2030? Stay tuned to discover the Polygon forecast.
During the 2021 bull run, many cryptocurrencies soared to new all-time highs. Conversely, the value of several cryptocurrencies has declined. Many cryptocurrency traders and investors may be perplexed about when to accumulate or sell their assets when prices are high as a result of these market paradoxes.
In order to reduce costs and speed up transactions, Polygon was created with unique features to address the problems with the Ethereum network which is flooded with data. While actions are performed independently, concurrently and collectivized on the main chain, sidechains are terminated on the Ethereum main chain.
Several protocols are supported on the public sidechain. The features allow multi-chain transactions to be acted on faster, at lower cost and with a user interface optimized for a wider range of network users. These advances forecast an excellent price range for Polygon during 2023.
Polygon has presented four techniques as scaling solutions. First, as a layer 2 solution, Polygon PoS increases operational speed and reduces expenses. Users have the option to add their own functions to their own sidechain, which they can then integrate with the larger blockchain, using the Polygon Hermez scaling method.
During the bear market of 2022 and early 2023, Polygon has fared much better than other cryptocurrencies. It was able to hold at several crucial support levels and even started to rise again instead of steadily losing value.
This was in part the result of the significant deals the cryptocurrency announced in the spring and summer of 2022, including those with Coca-Cola and Disney, as well as the increased acceptance of layer 2 scaling techniques. MATIC is performing well and appears to be in a long-term uptrend that could continue into 2023.
This project is seen as very promising by many traders and experts, who anticipate that its price will increase in the short and long term. However, it is unknown how well MATIC will perform in practice. A currency's price performance can be affected by a number of things. Here are some experts' predictions about the price of this cryptocurrency in the future.
MATIC should be worth at least $ 3.39 in 2025, according to specialists at several exchanges who examined the altcoin's price movement. For this year, they project a peak price of $3.97. By 2025, MATIC should be worth at least $ 6.93 and an average of $ 7.18. The platform's peak price prediction is $9.36.
According to many experts, MATIC will trade between $22.74 and $27.07 by 2030, with an average price of $23.36. Here, it is important to keep in mind that 2030 is still quite a long way off. In eight years, there may be a wide range of unpredictable events and updates that could have an impact on the cryptocurrency market. Therefore, it is prudent to take forecasts like this with a grain of salt.
According to our Polygon MATIC price forecast, a long-term increase in the MATIC price is anticipated from 2023 to 2030, indicating that investors may see more long-term gains than short-term gains. These forecasts suggest that by the end of 2023, the value of the Polygon token could reach $1.83.
| Year | Price |
|---|---|
2023 | $1,5 |
2024 | $2 |
2025 | $4,5 |
2026 | $7,5 |
2027 | $14 |
2028 | $18,50 |
2029 | $24,50 |
2030 | $28,75 |
With a better understanding of Polygon's past prices, we can now begin to identify the key variables that could affect its price in the coming years, integrating technical analysis with fundamental analysis.
At the end of 2022, Polygon published issue 34 of Polygon Insights, a weekly analytics report that publishes important metrics related to the network, dApps and NFTs within the MATIC network. In this we can see the latest developments that have shaped the current and future pricing of this project.
Compared to 805,000 active users the previous week, the network saw a 14 % increase this week, reaching 817,000 weekly active members. Although daily transactions were down 3%, overall transactions were 12% less expensive than the previous report. As it turned out, average daily revenue was $45,100.
The NFT department's numbers were significantly more optimistic. Weekly NFT increased dramatically by 400% to $656 million. Nearly 60 % more NFT wallets were created and 60,000 more people joined the network. The two sectors that saw no increase were mint events and total NFT transactions, where the numbers fell by 12 % and 9 %, respectively.
Arc8 and SushiSwap were the top two engines among the top 25 protocols, according to dApp's 2022 statistics. More than 30,000 new members were added to Arc8, an increase of 51 % over the previous week. On the other hand, SushiSwap added 8200 new users, a whopping 88% increase over the previous report.
Since Polygon is an ERC-20 token and runs on the Ethereum network, its success (and therefore price) will always be strongly related to that of ETH. We could witness a spike in Polygon's price after it is ready, given the yearning for the release of Ethereum 2.0.
The changes that make up Ethereum 2.0 aim to address many of the issues Polygon faces when using the Ethereum blockchain. These include the platform's slow transaction processing times, exorbitant fees and perhaps insufficient security. It is anticipated that the upgrade will increase interest in ETH, and if that happens, MATIC's price may rise along with it.
Overall, there doesn't seem to be much stopping Polygon from reaching the top. According to our Polygon price prediction study, MATIC is a fantastic long-term or short-term (up to one year) investment (five to 10 years). Here are our estimates for Polygon's price range in 2023. So many will opt for staking.
We can't promise that the price of MATIC will rise dramatically, as it has in the past. But if we tell you that the cryptocurrency industry as a whole is preparing for a bearish winter, the duration of which no one knows, then perhaps great prosperity will come for the largest projects, including the Polygon network.
The cryptocurrency market is always open for business, and some experts even advise investing while the market is in a downtrend (as it is now) to get the best prices and the biggest long-term gains.
The relationship between supply and demand determines the price of each asset. Prices increase to reflect scarcity as demand exceeds supply. The price will decrease if there is more supply than demand.
The total supply of MATIC tokens is 10,000,000,000,000 (This contrasts with the limited supply of "only" 21 million Bitcoin tokens). The currency is significantly more scalable than others on the market thanks to this staggering supply. Since the entire supply has not yet been distributed, the price of MATIC may begin to rise as the supply/demand balance shifts.
The existence of powerful investors is a factor that can also have a significant impact on the price of cryptocurrencies. MATIC is a big bet by billionaire Mark Cuban, and this celebrity backing has surely been good for the asset.
Kraken
Kraken, one of the largest cryptocurrency exchanges, offers a wide range of financial services and is therefore rapidly gaining popularity. You must register from a supported country, verify your name and address, and add a payment method to purchase MATIC tokens.
Binance
Binance is now the most widely used and trusted cryptocurrency exchange due to its huge daily transaction volume and widespread adoption. You must create an account, verify your identity and add a payment method before you can buy ETH.
eToro
This is not your typical brokerage; in fact, what sets this company apart is its social trading platform, where experienced traders can advise newcomers on the best ways to invest in bitcoin.
Ethereum
Ethereum has made a significant contribution to market changes by shifting the emphasis from cryptocurrencies as a mere form of exchangeable money to seeing them as an essential part of dApps. In fact, this network continues to host the largest ecosystem of decentralized applications (dApps) and the second largest proof-of-work (PoW) network in the world, behind Bitcoin.
Polkadot
The decentralized and adaptive Polkadot network aims at a secure link for blockchains. Due to its distinctive "Parachain" concept that processes transactions quickly, securely and at a lower cost after its introduction in 2020, it soon gained notoriety
Polygon is making the Ethereum network a practical reality today by solving its scalability problems, problems that many felt took years of development to solve.
If you've been dying to know how much Polygon MATIC could be worth in 2023 and 2025 and beyond, we hope this article has helped you. Without a doubt, investing in Polygon, or any cryptocurrency for that matter, is complicated. It is still a new asset class and there is a lot of uncertainty and risk.
Frequently asked questions about Polygon MATIC
If the trend we have predicted in our Polygon price forecast estimate for the period 2023 to 2030 continues, we can anticipate that Polygon's price will be trading between $ 20 and $ 30 in ten years' time.
In terms of Polygon's cost, a collapse is always conceivable. MATIC's price history shows that it fell twice in the summers of 2021 and 2022. Cryptocurrency crashes are common and investors should not be taken by surprise.
Given our extremely optimistic price projection, it appears that Polygon is on the rise. However, keep in mind that while its price may rise to nearly $2 by 2023, it could also fall to $0.5.
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