Polygon (MATIC) Price Prediction 2022


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

What Is Polygon MATIC?

GOBankingRates describes Polygon as “an express train,” riding along the same track as other sidechains on the Ethereum track but going faster and with fewer stops. Polygon uses a proof-of-stake architecture to process transactions, making it faster and more efficient than some other blockchain networks. Some investors peg its reliance on Ethereum as a benefit, while others see it as a drawback.

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

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

Polygon is also more environmentally friendly than many other cryptocurrencies, with a goal of going carbon-negative in 2022 and “climate positive” in the future. This, alone, could help drive Polygon’s adoption and attract favor from investors.

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

In June 2022, Polygon has a market cap of more than $5 billion, with nearly 8 billion Matic coins circulating, according to CoinMarketCap.com.

All this bodes well for the future of Matic. But you may still have questions. Can Matic reach $10? What will Matic be worth in five years?

Polygon Matic Price Prediction for 2022

First, let’s explore the outlook for Matic coins in the short term. CoinMarketCap.com says Matic is worth roughly $0.63 on June 9, 2022. That’s up 4% from the previous day. It is tracking increases for both Bitcoin and Ethereum on the day.

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

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

WalletInvestor.com said that 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 jump. The site predicts that Matic will reach just $0.86, at a maximum 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 reach $4.55 by mid-2023.

What Will Matic Be Worth in Five Years?

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

It also seems low if you look at the many elements that seem to make Matic a good investment.

It’s also important to remember that the crypto market leaves plenty of room for correction, with coins dipping substantially before reaching another bull cycle. Matic has lots of room to rise. It has already come a long way from its start, when it hit the market at just $0.004 per coin.

Business2Community.com reported that Matic has already retraced 66% of what it lost in 2022. Meanwhile, Bitcoin, which tends to drive the crypto 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 care to lose in speculative investments like meme stocks and cryptocurrency.

Fundamentals Driving Polygon Upward

The capability 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 is asking fans to submit their own art, which digital artists will combine into a mega NFT made up of 3,000 images. Proceeds from the sale of the NFT will be donated to charity.

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

Can Matic Reach $10?

Just how optimistic are investors and analytics? Can Matic reach $10? How rich could you get investing in Matic?

Although most experts have more conservative predictions, TradingEducation.com predicts that Matic could not just hit, but burst through the $10 mark by 2025. The global financial education site said that Matic could reach $15.13 by the end of 2025 and go as high as $54.85 by the end of 2030.

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

In either case, if you were to buy Matic today at its price of roughly 63 cents, and invested $1,000, you’d have 1,587 shares. By 2030, you could have a minimum of $4,729.26. If you believe TradingEducation.com’s Matic price prediction, you’d be sitting on an inflation-busting $381,059.49.

Conclusion

Are you ready to take that risk and invest a bit in Matic now? Very few analyst scenarios have Matic falling to zero within the next six months, or even 10 years. But investing in cryptocurrency always involves risk.

Matic may be one of the best cryptocurrencies to buy and hold right now, due to its low price and optimistic prospects that relate to the platform’s fundamentals and partnerships, not to mention its eye on sustainability. GoBankingRates.com puts Polygon Matic at No. 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 is accurate as of June 10, 2022.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted 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 geeks out about finance, e-commerce, technology, and real estate. Her lengthy list of publishing credits include Bankrate, Lending Tree, and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology, and entertainment website. She lives on Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten, and three lizards of varying sizes and personalities – plus her two kids and husband. Find her on Twitter, @DawnAllcot.



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