Despite all the ups and downs in MATICs history, analysts think that MATICs price could grow exponentially in the long term. Polygon is one of the most popular scaling solution protocols in the decentralized finance space. Its novel token, MATIC, is the 16th largest digital asset by market capitalization after giants Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Cardano (ADA), and Binance Coin (BNB) among others. Polygon was launched in October 2017 and it is a well-structured layer-2 scaling solution platform that improves the functioning of decentralized finance applications on the Ethereum Network. Aside from that, Polygon can also be employed for infrastructural development. Founded by Sandeep Naiiwal, Anurag Arjun, and Jaynti Kanani, Polygon comprises The Polygon Team, Polygon Network, and MATIC.

  • They also offer a wide range of cryptocurrencies and are beginner friendly.
  • One of the first products Polygon has offered is called a sidechain.
  • The Bitcoin blockchain continues to achieve milestones, with BTCs granting authority.
  • Moreover, centralized lending protocols like Celsius and Nexo also offer lucrative annualized yields on MATIC.
  • The primary purpose of this is to help GraphLinq utilize the layer 2 solutions of Polygon to save relatively higher sums of money on gas fees.

The information contained herein regarding available investments is obtained from third party sources. If you’re looking to buy Polygon’s native MATIC coin, the quickest way to do so is with a third-party fiat onramp like MoonPay or Ramp. These are services that enable the purchase of MATIC or other cryptos with a debit or credit card and then deposit the coins directly into any crypto wallet. Fiat onramps are the best way to purchase MATIC and have the coins deposited directly into your Polygon wallet without the need for custodial services.

Is Investing in MATIC Risky / Could Polygon Be a Bad Investment?

Consequently, if anyone submits a fraudulent transaction to the main Ethereum chain using optimistic rollups, their stake is slashed. In cryptography, zk proofs are a cryptographic primitive used for verifying to another party (the verifier) whether a particular statement is valid. At the same time, the prover is not required to provide any additional information, other than the fact that the statement is true. Network congestion also makes the Ethereum blockchain process slower, discouraging users from engaging with smart contracts on the blockchain. Polygon’s user-friendly and gamer’s favorite feature led to the evolution of Polygon Studios.

Users can pay transaction fees on the Polygon network using MATIC tokens, which are much lower than the fees on the Ethereum network. We have also stressed that Polygon (MATIC) is currently a cheap coin to buy now. Our Polygon price forecast suggests that the coin will experience a significant upsurge in the future, indicating the potential for greater profits even before 2040. We have presented some solid evidence that supports the notion that Polygon is a crypto project with the potential for significant growth in the future. We would like to emphasize that it possesses the required framework and has successfully drawn in top-notch professionals from the industry and beyond.

Headlines like this will undoubtedly continue to attract much attention toward Polygon. Going out further, the market will likely find buyers on dips, but it should be considered an investment, not a short-term trade. The $1.00 level offers psychological resistance but has been pierced several times in late 2022.

Polygon (MATIC) Crypto Explained: Is MATIC in 2023-2024 a good investment?

This table shows the MATIC price prediction by several crypto experts worldwide. Understand that your due diligence is crucial when investing in any asset. Coin Price Forecast has a reasonably bullish outlook for Polygon, as it leaves the Polygon’s future price should continue to strengthen over time. While initially dipping slightly during 2022, they expect Polygon’s projected value to reach $3.82 by 2030. When looking at their predictions, it is an exponential curve showing growth for the next ten years.

It is the first Ethereum-based project to develop a properly designed tool to solve the Ethereum scalability issue. As a result, many have dubbed Polygon a scalability solution for Ethereum. PrimeXBT products are complex
financial instruments which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how
leveraged derivative products work and whether you can afford to take the inherently high risk
of losing your investment funds. If you do not understand the risks involved, or if you have any
questions regarding the PrimeXBT products, you should seek independent financial and/or legal
advice if necessary. The content found on this service is not, and should not under any
circumstance, be construed as investment advice.

It continued throughout this year and helped the coin reach its all-time high price of $2.92 on Dec 27th, 2021. The project’s popularity has been driven by its use case as a Layer 2 scaling solution for Ethereum, providing faster and cheaper transactions and increased scalability to the Ethereum network. With this long-term horizon, Polygon will have plenty of time to prove itself. The MATIC coin will unlikely be trading at high valuations based on speculation alone.

Binance Airdrop Guide: $500k Worth of Airdrop is Ready, here’s how to Claim

MATIC is Polygon’s token, which has a current supply of 9,996,901,793 MATIC, and a maximum supply of 10 billion MATIC. If you are a regular crypto trader or investor, our crypto tools may be helpful for you. Continue reading to learn more about MATIC and whether you should invest in it or not. Thriving on the analysis of CoinPedia, investing in MATIC now could see you make gains of at least 2517.8% in the long term. At first, all Polygon ecosystem stand-alone chains will be Matic PoS chains, but other side chains and enterprise chains will be supported with a later update. It is currently being developed by a multi-disciplinary team led by the four co-founders — Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic.

How to Buy Polygon (MATIC)

In the long term, experts expect MATIC to trade for a coin at $3.75 (2026), $4.49 (2027), and $6.10 (2028). At the same time, MATIC had a trading price of $0.8, a trading volume of $488 million, and a market capitalization of $7.1 billion. With such statistics, it would be extremely difficult for MATIC to get as high as BTC in terms of price, trading volume, and overall valuation of the crypto. In the long term, Coinpedia predicts MATIC could trade for a coin at an average price of $3.8435, the minimum price of $2.6285, and the maximum price of $5.0678 by the end of 2025. The experts further estimate Bitcoin to command an average price of $95,298.65, the minimum price of $65,556.29, and a maximum price of $124,867.54 by the year’s end of 2025. In the long term, MATIC and BTC could return at least 375% and 487% respectively.

Is Polygon a Good Investment Long Term?

Unlike sidechains, Plasma chains publish their “root” on Ethereum layer 1 and function based on the assumption that its consensus mechanism can fail. This design affords greater security but while rendering these chains unable to run complex operations. Polygon has firmly established itself as the most promising Ethereum scalability project due to its highly capable development team. The expertise behind the team remains the driving force behind Polygon’s growth. Polygon is a stack of protocols designed to fix Ethereum’s scalability issues. The Polygon network addresses the network’s challenges by handling transactions on a separate Ethereum-compatible blockchain.

Ethereum was designed with an auction-based model, thus encouraging users to bid for their transaction to be included in the next block. Therefore, by design, more network congestion leads to increasingly prohibitive costs. Those who update transactional data on the system are required to stake ETH.

How to Buy Polygon (MATIC).

Cryptocurrencies are always volatile and risky, and there are several smart contract blockchains competing with each other. So if you decide to invest in Polygon, it’s still important to be cautious and only put in what you could afford to lose. Ethereum has been going through a series of upgrades, including a switch from its original proof-of-work model to proof of stake. That should significantly improve its transaction processing, one of the main issues Polygon solves.