With the many cryptocurrencies available to buy, sell, and trade, their potential success is one of the many things investors look at. One way to gauge the success of a particular cryptocurrency is to look at its price. Due to the high volatility of the crypto market, sharp price fluctuations occur often, which can cause investors to lose money. Given this fact, it can be difficult to predict how high the price of a cryptocurrency like Polygon (MATIC) can go.
If you’re thinking about investing in the coin, it’s important to look at its current price and its potential to increase over a few years. This article will address that potential and give you key insights to help you determine whether or not you should invest in Polygon.
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Below you will find all the information.
Polygon is a cryptocurrency and blockchain scaling platform. It helps to complement the Ethereum blockchain by enabling faster transactions and lower fees.
This means that Polygon is compatible with and complements the Ethereum blockchain, with the aim to improve Ethereum as a blockchain development network.
It does this by giving developers the ability to build scalable user-friendly dApps with low transaction fees, all without sacrificing security. One major flaw of the Ethereum blockchain is that it can perform a limited number of transactions per second.
This amounts to about 14 transactions per second. Each transaction comes with gas fees on Ethereum. If more and more users are on the blockchain, these fees can go higher and higher.
This makes it even more expensive for people who use decentralized finance (DeFi) apps and protocols, trade or purchase non fungible tokens (NFTs) and swap, buy, or transfer tokens on Ethereum. Network congestion also makes the Ethereum network run slower, which discourages users from creating smart contracts.
Polygon can reduce gas costs on the Ethereum blockchain by processing transactions on side chains. At its best, Polygon can process 65,000 transactions per second.
MATIC is Polygon’s native cryptocurrency, which is used for fees, staking, and more. MATIC is also responsible for governing and securing the Polygon network. It’s an ERC-20 token, making it compatible with other Ethereum-based digital currencies.
Like with many other cryptocurrencies, there are many factors that can influence the price of MATIC in the market.
Here are some of those factors explained below.
News is a major factor that can influence the price of cryptocurrencies like MATIC. Certain developments can make crypto investors skeptical about investing in certain cryptocurrencies. For example, if a blockchain network and native coin face regulation issues, many investors will lose trust in that particular coin and won’t purchase it.
On the other hand, if there’s some positive news about a cryptocurrency, a lot of people will invest their money in it, which in turn, increases the value of the coin. For example, MATIC recently announced the largest stablecoin by market capitalization, Tether (USDT).
Developments, changes, and innovation can also influence the price of MATIC and other cryptocurrencies. For example, in 2023, MATIC went carbon negative after revealing its “Green Manifesto”. The goal was to tackle climate change. This was done in response to criticism that the crypto industry consumes large amounts of electricity. This recent development has built a case for a bullish Polygon MATIC price prediction.
Staking is another factor that can raise the price of cryptocurrency. That’s because it’s affected by the market forces of supply and demand. If more people stake, there will be fewer coins in circulation in the crypto market. This will drive up the price of the coin, since supply is low. So, the more people stake, the better the coin performs.
However, if fewer people stake their coins, crypto assets that rely on the proof of stake model will see a drop in their value, which means lower prices in the market.
The crypto cycle refers to the rise and fall of prices in the crypto market. Often, cryptocurrency is volatile, meaning that prices rise and fall sharply. So, volatility refers to rapid price changes in a short period of time. There are different factors that affect the crypto cycle, such as how many coins are in circulation and how much people are willing to pay. Many crypto assets are limited to a certain number of coins as a result of burning mechanisms and other measures to make assets scarce. For example, for Bitcoin, the supply is limited to 21 million coins. The closer the circulating supply gets to its limit, the higher the prices are likely to rise.
However, MATIC is a newer crypto asset, so it has more coins in circulation, about 8 billion coins. Therefore, since there are so many coins in circulation, the prices won’t climb very high.
The Federal Reserve can affect the price of cryptocurrencies as well. With rising interest rates, market volatility is likely to occur. Investors are pulling away from crypto because of rising interest rates, surging inflation, and a potential recession. A decrease in demand can cause a dip in crypto prices.
Traders Union experts suppose that Polygon (MATIC) will hit $2.5708 by 2030 and $3.5908 in 2033. Keep in mind that these are only predictions, and are in no way financial advice
| Year | Price in the middle of the year | Price at the end of the year |
|---|---|---|
| 2024 | $0.9217 | $0.9901 |
| 2025 | $1.0636 | $1.1425 |
| 2026 | $1.2273 | $1.3183 |
| 2027 | $1.4161 | $1.5211 |
| 2028 | $1.634 | $1.7552 |
| 2029 | $1.8855 | $2.0254 |
| 2030 | $2.1757 | $2.3371 |
| 2031 | $2.5105 | $2.6968 |
| 2032 | $2.8969 | $3.1119 |
| 2033 | $3.3427 | $3.5908 |
| 2034 | $3.8572 | $4.1433 |
| 2035 | $4.4506 | $4.7808 |
According to the Traders Union analysts by the end of 2025 Polygon (MATIC) can reach $1.1425.
Polygon (MATIC) Forecast – Polygon price 2024, 2025, 2030While it’s definitely possible that MATIC could reach $10 in 2023. This is unlikely for now. However, TU experts are predicting that MATIC will reach $1.0891 by 2023.
| Month | Minimum Price | Average Price | Maximum Price |
|---|---|---|---|
| May 2024 | $0.8197 | $0.9108 | $1.0019 |
| June 2024 | $0.8295 | $0.9217 | $1.0139 |
| July 2024 | $0.8395 | $0.9328 | $1.0261 |
| August 2024 | $0.8496 | $0.944 | $1.0384 |
| September 2024 | $0.8598 | $0.9553 | $1.0508 |
| October 2024 | $0.8701 | $0.9668 | $1.0635 |
| November 2024 | $0.8806 | $0.9784 | $1.0762 |
| December 2024 | $0.8911 | $0.9901 | $1.0891 |
Because cryptocurrency has a history of experiencing unprecedented price changes, it’s definitely possible for MATIC to hit $100 in 10 years. However, according to the current Traders Union analysts price prediction by the end of 2033 MATIC can reach $3.5908.
Polygon (MATIC) could be a good cryptocurrency to invest in because of its potential to gain lots of value. The coin has many uses, making it popular among investors. Another thing that shows MATIC has incredible potential is the fact that its price increased by 13,000% in 2021, going from less than 2 cents to $2.68 in just a matter of months.
However, it’s important to keep this in mind when looking at crypto assets to invest in. And it’s important to note that it could take a few years for MATIC to reach $100 or even $10.
You should also take into account the fact that crypto is an extremely volatile instrument. It can go up and down in value dramatically, and within a short period of time. So, no matter what crypto asset you invest in, always remember to only invest as much as you’re willing to risk.
You can buy Polygon through decentralized exchanges, but you can also purchase the asset with U.S. dollars or other fiat currency through exchanges like Coinbase and ByBit.
ByBit is a cryptocurrency exchange with a wide range of advanced trading tools. It has top-notch security and gives users the ability to trade crypto perpetual contracts with up to 100:1 leverage. Like many other cryptocurrencies, you can buy MATIC on the ByBit platform.
Coinbase is a secure online platform for buying, selling, transferring, and storing cryptocurrency. You can purchase MATIC on the Coinbase app anywhere Coinbase is available, through the Ethereum and Polygon networks. The process is quick, easy, and secure.
So, how high can the price of MATIC go? It’s unlikely for the coin to reach $10 or even $100 anytime soon. However, MATIC is an up-and-coming crypto asset that still has the potential to be a strong long-term investment. With many experts sharing very optimistic MATIC price predictions and the various uses of the coin, it can be reasonable to predict that MATIC has good long-term earning potential. But it S just a matter of how long will it take for you to get a good return on your investment.
Like most other cryptocurrencies, the price of the coin will likely see sharp increases and decreases due to the inherent volatility of crypto. Therefore, it’s important to do your due diligence when researching MATIC and only invest as much as you’re willing to risk.
The following tools and instruments were used for making the prediction:
Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.
Statistical tools that allow experts to evaluate the probability of an event that may influence the prices of cryptocurrencies.
Individual features of a cryptocurrency startup and its competitiveness: number of tokens in free circulation, restriction of emission, potential usefulness of the startup for the society, roadmap and development plans of the startup, potential vulnerability of the startup’s blockchain, examples of hacks, failures in the entire history of cryptocurrency existence, capitalization dynamics compared to key competitors, share of major coin holders and other subjective factors.
Note:
This price prediction is based on current information and historical data. Strong fundamental factors capable of radically changing the overall situation in the cryptocurrency markets, impacting the prices of certain cryptocurrencies and subsequently changing the price trend, may appear in the future. The price predictions are updated regularly based on the latest data.
This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.
Polygon is a layer-2 scaling solution that was created to address limitations in the Ethereum blockchain, including transaction speed, throughput, and gas fees. It does this by providing a plethora of sidechains, effectively unclogging the main platform in an effective and cost-efficient manner.
Polygon functions primarily through Commit chains, also known as side chains. These are transaction networks that operate adjacent to a main blockchain. The goal is to provide an infrastructure for creating blockchain networks that can interface with each other. The side chains run on top of the Ethereum network to speed up transactions.
You can use Polygon (MATIC) in two different ways. One way is to pay for the transaction fees in the network. The other way is to use MATIC for staking to participate in the Proof of Stake consensus mechanism for checkpointing layer and block production layer.
MATIC may be a good long-term investment. However, most experts doubt that it will reach $5 in the near future. However, due to the fast growth of the Ethereum blockchain, MATIC has great potential. But just like with any other investment, it’s important to do your own due diligence before you invest in any crypto project.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!
