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What is Polygon, and what is MATIC coin?
Polygon is a unique solution embedded on top of existing blockchains to enhance connection and scaling. It works on top of the Ethereum blockchain to help improve the speed and reduce the cost of transactions on the blockchain network.
Consequently, Polygon is a layer-2 network that acts as an add-on layer on top of Ethereum. Developers behind the blockchain scaling solution seek to use it to expand Ethereum size, security efficiency, and usefulness.
MATIC is the native token that powers the Polygon network and helps drive development across the network. The coin is also used for staking on the network and acts as a medium through which transaction fees are settled.
Users can earn the token by offering computational resources and services on the network. In addition, staking of the tokens gives holders the right to vote on network upgrades. Each vote is proportional to the amount of MATIC cryptocurrency that one stakes.
The total number of MATIC tokens that will ever be in circulation is capped at 10 billion.
MATIC is currently ranked as the 16th largest token with a $10.7 billion market cap. The current circulating supply is 7.6 billion. In addition, $1.12 billion worth of MATIC tokens remains locked in decentralized finance platforms.
Should I buy Polygon coin today: MATIC market sentiment
MATIC token has shed a significant amount of market value ever since it peaked to record highs of $2.9 a coin late last year. The coin has shed more than 50% in market value in line with a sell-off that has gripped the cryptocurrency market.
While the coin has lost a significant market value and remains under immense pressure, it is a solid buy as a long-term investment. MATIC has what it takes to bounce back and rally significantly once the dust in the cryptocurrency market settles.
The fact that its blockchain is at the heart of enhancing scaling and connection to the Ethereum blockchain means it has a role to play in the future. As transactions increase on the Ethereum blockchain, the need for a scaling solution such as Polygon should increase, which should help support MATIC price appreciation.
That said, the 50% plus pull back from all-time highs provides an ideal opportunity to purchase
the token at a discount going by the solid underlying fundamentals.
What is Polygon MATIC price prediction for a year?
While MATIC has shed more than 50% in market value over the past two months, immediate estimates indicate that the coin has what it takes to bounce back. Analysts are optimistic about the coin bouncing back and rallying close to the $2 a coin threshold.
It is expected the coin will average $1.82 a coin for the better part of the year. Analysts on Digitalcoinprice.com expect the coin to touch highs of $1.94 before year-end.
What is Polygon MATIC price prediction for 2025?
MATIC’s long-term outlook is positive. As blockchain adoption and use in the mainstream sector increases, the need for scaling solutions to enhance transaction speeds and lower costs is expected to increase as well.
Therefore, Polygon should see increased use on the Ethereum blockchain, which should help enhance the use of the MATIC coin in settling transactions. Therefore analysts at Digitalcoinprice.com estimate the coin to hit an all-time high of $3.02 in 2025.
In addition, the coin is expected to average $2.74 a coin for the better part of 2025 and hit lows of $2.44.
What is Polygon MATIC price prediction for 2030?
MATIC’s long-term outlook is looking even brighter, with analysts at Digitalcoinprice expecting the coin to appreciate significantly. A 300% plus appreciation could be on the cards going by the ambitious estimates.
By 2030, MATIC is expected to be a $6.50 a coin crypto up from the current valuation of $1.4 a coin. Some analysts are optimistic that the coin could appreciate to even $7 a coin. The significant price appreciation will depend a great deal on how useful the scaling solution becomes on the Ethereum blockchain.
Polygon MATIC FAQ
Will Polygon coin appreciate in a year?
Yes. The prospect of MATIC coin appreciating over the next year is high. This will mostly be driven by the growing demand for scaling solutions to enhance transaction speeds on blockchain networks.
How much will Polygon MATIC be worth in 5 years?
MATIC could appreciate by more than 200% from current levels and be worth $4.85 a coin over the next five years.
Where do I buy MATIC Tokens?
While MATIC can be bought in a number of high-profile exchanges, Binance and Coinbase turn out to be some of the best places where the token can be bought.