Polygon Price Prediction 2022-2030: Soaring Past $1?

Polygon price analysis has turned bullish a few days ago, as price racked up more than 5 percent to move as high as $0.73 over the past 24 hours. Since the extensive market crash earlier in May, MATIC has gained over 40 percent since the low of $0.52 on May 12, 2022. Major technical indicators for the current trend point towards a rally up to $2.10. Buy stops are placed at $0.51 while buyers are expected to hold for now and consolidate upwards. The upward trend may face resistance past the $1 mark as the overall market currently faces greater uncertainty and volatility than before the crash.

Important news around the Polygon Network at the start of this year is the launch of a photography NFT platform that will be deployed through the Polygon blockchain. The platform is the product of the Associated Press and aims to enable collectors to purchase and trade tokenized photographs from global news. AP’s goal is to cover subjects in climate change, space, and war through photojournalism.

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Today’s Polygon price today is $0.669008 with a 24-hour trading volume of $353,788,803. Polygon is up 4.88% in the last 24 hours. The current CoinMarketCap ranking is #17, with a live market cap of $5,319,192,698. It has a circulating supply of 7,950,866,567 MATIC coins and a max. supply of 10,000,000,000 MATIC coins.

The outlook for the coin looks more positive after the news that Polygon had raised a $450m war chest through a private sale of its native MATIC token to advance the mass adoption and its own position in Web3.

What do you think will be the top project for #Polygon in 2022?

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.

What’s new with Polygon (MATIC)?

Mina Protocol and Polygon are working towards implementing support for Mina on Polygon PoS. This bridge will enable developers building applications on Polygon to leverage privacy and verifiability via Mina’s zero knowledge-SNARK-based protocol.

Polygon is an Ethereum-based project that hopes to solve fundamental issues the Ethereum blockchain faces, such as interoperability and scalability. It is the first project on the Ethereum blockchain to launch an adequately structured tool that addresses Ethereum scaling problem. Consequently, many have termed Polygon as Ethereum scaling solution.

Ethereum is home to several DeFi projects like the Polygon, formerly known as the Matic network. Since the Matic network has brought numerous functionalities to the entire Ethereum blockchain, several developers have taken an interest in the project that has, in turn, led to steady growth of Matic price.

Major cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc., witnessed a slump on the 1st week of June, and yet, the value of Polygon(MATIC) rose nearly 35% in the same period. Investors saw Polygon (MATIC) as the next big thing, and in a short period, it surged past other cryptos to rank among the top 15 biggest cryptos globally.

In Feb 2021, Polygon rebranded itself and upgraded it by bringing in promising metaverse projects and integrating Matic Plasma Chain. This development provided a layer one blockchain network with integrated scaling solutions for NFT, DeFi, etc.

Polygon has become a massive hit in India and led cryptocurrency exchanges like CoinSwitch Kuber to list the currency on their platforms. Polygon Matic price prediction is based on analyzing the previous price and forecasting the future. Polygon price predictions on Cryptopolitan are based on analyzing the entire cryptocurrency market, price action, and trends to determine whether Polygon cryptocurrency is a good investment.

Polygon (Matic) Overview

Polygon (Matic) was formerly known as the Matic network, and it was developed on the Ethereum blockchain to solve scalability issues faced by Ethereum. The Matic network employs its unique Polygon SDK to create interactive decentralized applications (dApps) on the DeFi platform. It combines both PoS and plasma framework in its core and runs on Ethereum layer two.

Polygon successfully converts the limited Ethereum blockchain into an open blockchain network usable by many. In essence, it makes Ethereum steady as the internet of blockchains.

In turn, Polygon (Matic) project benefits immensely from the already established Ethereum blockchain in several ways. Firstly, every blockchain project needs a secure security infrastructure, the Matic network benefits from Ethereum’s array of qualities such as an active and vibrant community, established security systems, and transparency.

Within the Polygon network, transactions are settled using the Matic coin. Matic price has risen over the years, sparking interest from cryptocurrency enthusiasts. Polygon technology has improved efficiency within the Ethereum blockchain. Today, Polygon boasts of handling up to 65,000 transactions per second on its single sidechain. Similarly, it has averaged an impressive block confirmation time of two seconds per transaction.

Polygon Overview

Polygon Overview

Coin Symbol Price Marketcap Change Last 24h Supply Volume (24h)
MATIC $ 0.671722 $ 4.61 B 5.22% 6.87 B $ 276.09 M