In this post, we will focus on Polygon price prediction to answer the question: Is Polygon (MATIC) worth investing in or not?
But what exactly is Polygon? Which blockchain is Polygon helping to scale? What goals does Polygon follow to achieve? Is MATIC a good investment in 2021 and onwards? Does Polygon have a good potential to flourish in the future? What are the possible benefits and risks of investing in Polygon? How do crypto analysts and experts think about Polygon price prediction? How high will MATIC go in the short and long term?
If you are interested in knowing the answers, then read ahead. We have provided a comprehensive guide to answer all these questions.
What is Polygon Project?
Already known as MATIC Network, Polygon is an Indian-based platform. The Polygon network seeks to solve some of the main challenges associated with Ethereum. The Ethereum network challenges or limitations include high gas fees, low transaction rates (TPS), and poor user experiences. Polygon (MATIC) is trying to build a multi-layer ecosystem of blockchains compatible with the Ethereum blockchain. As a result, the Polygon network will make different blockchains not only interoperable but also easily scalable.
Four Indian software engineers built Polygon. The project began as the MATIC network but then changed its name to Polygon in February 2021 to extend its global scope. However, MATIC is still its ticker symbol and the name of its native coin. The MATIC coin is used to power several aspects of the Polygon network.
Right now, Polygon is a notable player in various crypto sectors such as Decentralized Finance (DeFi), Decentralized Applications (Dapps), Non-fungible Tokens (NFTs), and the Decentralized Autonomous Organization (DAO). Thus, Polygon is one of the most promising cryptocurrency projects that have a high chance of growth in the future.
The structure of the Polygon Network
The Polygon architecture has four layers:
- The Ethereum layer
- The Security layer.
- The Polygon networks layer.
- The Execution layer.
The Polygon structure is capable of speeding transaction rates on specific blockchains without jeopardizing user experience or security. The first two layers (i.e., the Ethereum and security layers are optional, but the other two layers are mandatory). Then, the Polygon network is quite flexible and allows the inclusion or exclusion of optional layers, depending on the projects’ current status and goals. Apps built using the Polygon network are usually faster and more scalable than those developed using the Ethereum network.
Polygon has gained attention from investors and enthusiasts because of its efforts to speed up transactions on Ethereum and make Ethereum easy to use. Furthermore, some of the most popular apps migrated to the Polygon network are Aave, SushiSwap, Beefy Finance, Polymarket, and Curve Finance. Also, Polygon has attracted interest from high-profile investors like Mark Cuban, who recently announced his support for the network. Therefore, with increasing demand and investors’ interest in the network in the future, the Polygon coin value will increase in the crypto market.
Risks of Investing in Polygon
- Polygon’s underlying technology mainly depends on Ethereum’s limited speed and scalability. If Ethereum moves to Eth2 and solves its scalability and speed issues, the need for the Polygon network will become less necessary. Therefore, Polygon has to verify its usability in the future.
- There are other competitors like Polkadot and Cosmos. If Polygon doesn’t move fast and create better solutions, it might defeat very soon.
- Polygon is %100 focused on the Ethereum network. Polygon’s solutions won’t be relevant if another Blockchain (such as Cardano) eventually knocks Ethereum down. There is a small chance that Polygon might have chosen the wrong horse.
- Polygon has a long way to go. It isn’t yet clear how the technology will evolve, and there is still a lot to be done.
- Last but not least, consider the innate volatile nature of the crypto market. Any given cryptocurrency, especially young altcoin like Polygon (MATIC), is subject to huge fluctuations and many price-effective factors. Therefore, you may lose or gain, and no one can tell for sure what the crypto market has in store for investors.
A Review of Polygon Price History
Source: TradingBeasts (Polygon Price Performance at a Glance)
Now, let’s review the MATIC coin’s price history. This review will help us to better understand the coin’s past performance and the possible future trajectory.
In April 2019, Polygon was trading for as low as $0.003. But then quickly rose to $0.01 in mid-May 2019, and later to $0.02 towards the end of May. In June 2019, MATIC fell to $0.01 and stayed below $0.02 until late November. After that period of stagnation, the token quickly grew, and by December 2019, it reached $0.04. However, the price dropped below $0.02 and finished the year at $0.0149.
Source: CoinMarketCap (Polygon Price Performance in 2019)
Matic Price Performance in 2020
MATIC traded for $2.5 in May 2021. Since then, Polygon is growing steadily to become the 17th largest cryptocurrency. MATIC started 2020 at the same price level. Then, in early February 2020, it went back to above $0.02. In mid-March, MATIC slumped as low as $0.009, but MATIC returned to $0.01 by the end of the month.
From June until the end of 2020, MATIC traded between $0.01 and $0.03 and only briefly went above $0.03 in mid-August.
Polygon Price Performance in 2020
Polygon Price Performance in 2021
Despite starting the year under $0.02, the price of MATIC quickly rose and passed $0.03 during the first few days of January. At this time, a market-wide bullish run was just getting started, and MATIC was fortunate to be part of it.
The bull market started in February 2021, where MATIC quickly gained momentum and achieved as high as $0.4 in mid-March. The price of MATIC held steady for most of April 2021, and then between April 20th and April 30th, MATIC dramatically jumped from $0.4 to $0.9, representing a more than 50% increase in just ten days.
The greatest of all price spikes happened between May 6th and May 18th, when MATIC jumped from $0.8 to more than $2.5, its highest price ever. This growth represents a 212% increase in less than two weeks. After a few days, MATIC experienced one of its worst crashes, dropping to as low as $1.11 by May 22. Towards the end of May, the coin returned to above $2. Nevertheless, it crashed again and kept fluctuating in June. In late June, MATIC went back to $1.06.
MATIC Price Performance in 2021
In August, MATIC grew as the demand for the coin increased, showing about a %137 growth above the lowest level since July. At the time of writing this article, 21 August 2021, MATIC was trading at $1.68 based on data derived from CoinMarketCap. The coin is up 13.02% in the last 24 hours. In 2021, Polygon’s price was $0.64. Today, Polygon trades for $1.68, so the price has increased by %161 since the beginning of the year. Polygon has a live market cap of $10,928,261,683. It has a circulating supply of 6,458,576,924 MATIC coins and a maximum supply of 10,000,000,000 MATIC coins.
Source: WalletInvestor (Polygon Technical Analysis)
Polygon Price Prediction
Although Polygon’s price has fallen recently, crypto experts predict an uptrend with the possibility of the coin hitting over $2 by the end of the year. However, the current price growth is a bit too slow. In the following, we will examine how top crypto experts and analysts think the Polygon (MATIC) price will perform in the future.
WalletInvestor Polygon Price Prediction
According to the WalletInvestor forecast system, MATIC is an excellent long-term (1-year) investment. As reported by the platform, MATIC can be a profitable investment option. But after Bitcoin cloud mining.
According to WalletInvestor Polygon price prediction, the Polygon price can rise from $1.660 to $4.339 in one year. The long-term earning potential is +161.38% in one year. So it is profitable to invest in Polygon. Also, the predicted Polygon (MATIC) future price will be $15.491 in 2026. Since this virtual currency has a positive outlook, WalletInvestor recommends it as a potential investment alternative.
Source: WalletInvestor Shot-term Polygon Price Prediction in 2021
Long-term Polygon Price Prediction
TradingBeasts Polygon Price Prediction
TradingBeasts predicts that MATIC will reach $1.87797 by the beginning of September 2021. The expected maximum price is $2.36561, and the minimum value is $1.60862. The Polygon price prediction for the end of the month is $1.89249.
The Polygon price prediction for December 2021 is $1.92338. The expected maximum price is $2.42464, and the minimum amount is $1.64875. The Polygon price prediction for the end of the month is $1.93971.
Source: TradingBeasts (Polygon Price Prediction for 2021)
The platform predicts that MATIC will be at least ($1.39768) in 2022 ($1.69255) in 2023 ($1.98652) in 2024. Therefore, according to their crypto forecasts, the Polygon price is going to increase in 2021. Currently, the Polygon price is $1.67000, but by the end of 2021, the average Polygon price is expected to be $1.93971. However, according to TradingBeasts, the Polygon price is going to decrease in 2022, reaching the average price of $1.64433.
Coin Price Forecast Polygon Price Prediction
Coin Price Forecast thinks that the Polygon price will be $2 by the end of 2021 and then $3 by the end of 2022. Polygon will rise to $5 within the year 2025.
Source: Coin Price Forecast (Polygon Price Prediction)
As shown in the table, the forecasted Polygon price at the end of 2021 is $2.40. Accordingly, in the first half of 2022, the Polygon price will ascend to $2.55; in the second half, the coin would add $0.77 and close the year at $3.32, meaning a %100 increase to the current price. In the next five years (i.e., 2023-2027), the Polygon price would move from $3.32 to $5.71, a 72% increased price.
Investing Cube Polygon Price Prediction
Investing Cube predicts a bullish trend for the coin in the near term. Hence, the coin will likely maintain its bullish trend as bulls target the next resistance level at $1.8315.
Long Forecast Polygon Price Prediction
The Economy Forecast Agency (known as Long Forecast) thinks that the Polygon price will be $1.47 at the end of 2021. By the end of 2022, it will reach $2.77, and in 2023, the coin will trade at $3.41.
GOV Capital Polygon Price Prediction
Gov Capital is more bullish than others. Gov Capital believes that MATIC will reach $3 in late October 2021 before ending the year at $3.317. The platform thinks that MATIC will start 2022 at $3.22 and finish the year at $6.848. There will be many fluctuations along the way, with MATIC exceeding $8 several times in December 2022.
CryptoNewsZ Polygon Price Prediction
CryptoNewsZ is also very optimistic about MATIC’s future in the market. Based on the website, MATIC will show a positive pattern, steadily rising, and reach the minimum price of $3 by the end of 2021. With partnerships and community funding, MATIC can hit the price level of $3.4, which is quite optimistic but feasible in 2022.
According to Polygon price predictions, the coin seems like a good investment with a promising prospect. The cryptocurrency has a good idea and an innovative team behind it. Moreover, many giant projects, investors, and cloud miner centers support the network. The Polygon network is doing its best to ensure that the asset not only remains competitive but shines above the rest as well. In other words, as more people start to realize the potential in Polygon technology, its price will gradually rise over the years.
Moreover, the MATIC price history is quite impressive. Those who bought MATIC when the coin was trading as low as $0.02 in 2019 then sold in May 2021 when it crossed $2.5 made huge profits. Even though MATIC lost a considerable amount of value during the recent bearish market, it might soon resume a bullish trajectory.
If you do your research and know the right time to invest, there are good chances that you may be able to earn some profits, especially in long-term investments. However, there is not a %100 guarantee, and Polygon is not entirely a safe-haven option, given the associated risks mentioned earlier. Therefore, do not jump into the market blindly and only invest what you can afford to lose.