MATIC Price Prediction 2030: Is Polygon Crypto a Good Investment?
If you’re looking for MATIC price prediction 2030 and want to know where Polygon price will go in the future. We will analyze the past prices of MATIC coin and dive into the future Polygon price prediction 2030 that is made as of 29 December 2022.
Before we start with the Polygon crypto price prediction 2030, let’s dive into the coin’s overview.
Polygon (MATIC) Overview
|Price Change 24H||-0.75%|
|Circulating Supply||8,734,317,475 MATIC|
|All Time High||$2.92|
|All Time Low||$0.00314376|
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What is Polygon (MATIC)?
Polygon, previously known as Matic Network, claims to be the first easy-to-use platform which helps counteract problems caused by extra traffic on the Ethereum (ETH) blockchain, as well as working with infrastructure development. Founded by former Ethereum employees Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic in 2017, Polgon wants to create a “full-fledged multi-chain system”.
In the past few years, ether (ETH) has become the second-biggest cryptocurrency by market capitalisation and the leader in decentralised finance (DeFi) due to its compatibility with smart contracts, computer programs which automatically execute once certain demands are met, which it claims makes building decentralised applications (dApps) easy.
However, ETH’s growing popularity has also made the Ethereum blockchain arguably harder to use, thanks to rising gas fees and excessive traffic, which led to the creation of Matic.
Matic used a technology called Plasma, which processed transactions off-chain before moving them onto the Ethereum main chain to finalise them.
This meant it could move quickly, without being slowed down by a high user base, but it could still utilise dApps and the overall Ethereum technological ecosystem to gain a wider market. It was dubbed a layer-2 solution, which meant it was not trying to change the basic blockchain layer, but people could work outside it.
In 2021, Matic became Polygon. As well as the name change, it also altered the way it worked. The new version of the platform aimed to create a truly interoperable system of mini-blockchains – or sidechains – which would allow people to operate it with a range of blockchains.
If you were to imagine it as a kind of layer-2 scaling solution plus, you would be in a similar ballpark to its founders when they had the concept for turning Matic into Polygon.
One thing to note here is that, on 15 September 2022, Ethereum completed its transition to a proof-of-stake (PoS) consensus mechanism which, it is hoped, will help the network speed up. What long-term effect that will have on the likes of Polygon remains to be fully seen.
Every blockchain-based network needs to have its own native token, and Polygon has the conveniently named polygon coin, also known by its ticker handle of MATIC. The MATIC crypto is used to pay fees on the Polygon network, and for staking and governance.
MATIC Coin Price History
Let’s now take a quick look at the Polygon price history. While past performance should never be taken as an indicator of future results, knowing what the crypto has done in the past can give us some much-needed context when it comes to either making or interpreting a polygon price prediction.
When MATIC first came onto the open market in April 2019, it was worth about $0.00263. While it went up slightly to $0.04168 in December 2019, it went down again and started 2021 at $0.01781. It was around that time that the market picked up and, with Matic becoming Polygon in February, the price rocketed and it looked like nothing could stop it, as it broke past $1 on 9 May and $2 on 18 May before market conditions sent it back down again. However, things improved towards the end of the year and, on 26 December 2021, it reached an all-time high of $2.92.
While 2021 was a year to remember for both crypto and MATIC, 2022 has proven to be one to forget. A series of market crashes left the coin reeling, and on 18 June MATIC crypto price fell to a low of $0.3228. The launch of zkEVM, an Ethereum Virtual Machine-compatible program then saw the token briefly peak above the dollar mark towards the end of July before dropping back down again.
The token started to regain its price in October after hot polygon (MATIC) news that Robinhood (HOOD) had announced a collaboration with Polygon for its new Web3 wallet, along with allowing users to send and receive MATIC on its brokerage. It then partnered with Meta to work on non-fungible tokens (NFTs). As a result, Polygon MATIC price reached a high of $1.29 on 7 November before the collapse of the FTX (FTT) exchange saw it drop to a low of $0.773 on 21 November 2022.
There was then a recovery to $0.9486 on 3 December before another downturn to around $0.7938 by 20 December. At that time, there were about 8.7 billion MATIC in circulation out of a total supply of 10 billion. This gave the coin a market cap of $6.93bn, making it the 10th-largest crypto by that metric.
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MATIC Price – Technical Analysis
While Ethereum successfully deploys its final network’s test before the Merge, the largest altcoin has set the stage for the final upgrade. This change towards the Proof-of-Stake system would ultimately make the MATIC scaling solutions more environment-friendly.
Also while Ethereum’s processing speed and transaction costs are not yet expected to improve drastically, Polygon’s utility would likely continue to surge in the coming months. These circumstances could further inflate users’ activity in the network and ultimately attract more institutional interest.
Factoring in the impact of these updates, MATIC might reveal its underlying capability to cross the $1 barrier in the coming sessions.
The recent buying spree from the $0.34 support was quite impressive, one that breached beyond the constraints of the weekly 20 EMA (blue). In the meantime, MATIC formed an ascending channel in this timeframe.
Despite a patterned breakdown, the immediate support levels have kept the selling pressure under a near-term check. The 20 EMA alongside the $0.78 support triggered a rebound over the last few weeks.
Hereon, the buyers could aim to retest its six-week resistance at the $1.003 level. However, to reaffirm buyers’ trust, MATIC needs to topple the $1.003 resistance.
A robust breach above this level could help the altcoin to test the $1.3-$1.6 level in the coming weeks/months. So, any close above the immediate barrier could hint at an entry trigger and would make the projections favorable for the end of this year.
The Relative Strength Index (RSI) continued to face rejection at the midline while depicting increasing buying pressure over the last few months.
The Chaikin Money Flow’s (CMF) close above the zero mark has resonated with the increasing buying edge on the weekly chart. Alas, any reversals on this indicator would confirm a bearish divergence with price. So, investors are advised to look for potential reversals below the zero level to gauge the chances of a bullish invalidation.
MATIC Price Prediction 2030
We’ve covered most of the important things you need to know about MATIC before considering the Polygon MATIC price prediction, as well as the detailed market analysis, price history and Matic technical analysis. If you are really interested in investing in the coin, this is the time to be more attentive.
Under Polygon, the biggest blockchains will be interoperable by 2030 making them much faster and more practical to use, dramatically speeding up adoption by large companies. Our Polygon price prediction 2030 forecasts that at the very highest, it is expected that Polygon may go up to $7.65. Polygon crypto price can also form a level of support at a low of $7.02 and accomplish an average price of $7.34 by the end of 2030.
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MATIC Price Prediction 2030: Conclusion
As of right now, Polygon is a worthwhile investment because it is on a hiring spree during a cryptocurrency bear market, which is not the case with other cryptos at all, which are laying off their services and staff. Notably, major brands such as Prada, Dolce & Gabbana, Adidas, Adobe, Meta, and other business giants have launched their operations on Polygon in recognition of its superior model.
Up to 7000 decentralized apps are up and running on the platform, which makes it important and unlikely to tank even in a volatile market. With 10 billion MATIC tokens releasable and 7.6 billion currently in circulation, all point towards MATIC and Polygon as up-and-coming crypto with a steadier market. The MATIC market is capitalized as one of the biggest token in circulation.
We expect the token to grow significantly based on the Polygon MATIC price prediction. A major gem in MATIC crown is its ability to upgrade and innovate constantly. It has already adopted a PoS mechanism and thus has huge growth expected in the upcoming years. Based on the Polygon crypto price prediction, the horizon is a pretty bright future for MATIC, and it does not solely bank on decentralization. Another icing on the cake is that the crypto exchange is preparing for Polygon Network IEO.
It is only fair that we conclude this section by sounding the warning that due to the unpredictable and volatile nature of crypto markets, all crypto price predictions should be taken with a grain of salt. Just as the coin has a high chance of gaining value in the future, there is a chance that it will lose value over time. Therefore, look at the latest market trends, news, fundamental and technical analysis, and experts’ opinions before making any investment.