Polygon’s 2022 drop took many investors by surprise. The value of Polygon‘s native token, MATIC, is no longer what it was during the bull run of 2021, causing many to ask the question: “Should I buy MATIC?” In this article, we take a closer look at the opinions of different crypto experts on Polygon’s future trading opportunities and observe the coin’s price predictions.
Setting up the scene
Polygon (MATIC) has seen a lot of success in 2020-21 as the price of the cryptocurrency has soared to new all-time highs. However, many crypto traders and investors are now wondering whether it is time to hodl or sell their assets while the prices are on the decline. Obviously, Polygon’s chief executive officer, Sandeep Nailwal, is optimistic about the future of Polygon and believes that it has a lot of potential. In his 2021 interview, Nailwal stated that Polygon is “well-positioned to power an Ethereum scaling and infrastructure ecosystem”. Nailwal’s bullishness is based on Polygon’s strong technical team and partnerships with major players in the industry such as Google and Binance. These partnerships give Polygon access to a wide range of users and resources, which will help Polygon to continue growing in popularity. Other crypto experts have also been positive about Polygon’s future prospects.
Even earlier than that, CoinGecko co-founder Bobby Ong stated that Polygon is “poised for explosive growth in 2021”. This is based on the increasing number of users and transactions on Polygon’s network as well as the increasing interest from institutional investors.
So, what happened to Polygon in 2022 and what should we expect from it in the years to come? Is it still qualified to carry the torch as one of the brightest-shining projects out there? Let’s take it from the top.
What is Polygon and how does MATIC work?
Here’s your 50-cent tour. Polygon (MATIC) is an Ethereum scaling solution that achieves scale by utilizing sidechains. The network offers a second-layer solution that Polygon calls “Matic Polygon” or “MPolygon,” which is a sidechain that is built on top of Ethereum. The goal here is to provide a seamless experience for developers while also reducing transaction fees and increasing speed, for which Polygon utilizes Plasma – a proprietary scaling solution.
Polygon’ token MATIC is used to pay fees on the network. Polygon also supports staking and recently launched Polygon Bridge, which allows users to move ERC20 tokens from Ethereum to Polygon.
MATIC Price analysis for 2022 and beyond
Polygon’s 2022 price prediction for MATIC is optimistic, but there are several hurdles the coin needs to overcome first. In the short and medium term, MATIC must set additional support at the $1.48 Fibonacci level in order to overcome the $2.72 retracement level. Otherwise, bears could take over and drag MATIC into their territory. Meanwhile, our long-term MATIC price forecast for 2022 is optimistic: according to it, MATIC has a high chance of reaching a new all-time high this year. However, this will only happen if the coin overcomes a series of psychological resistances.
Overall, the future of the Polygon cryptocurrency is looking bright, with many traders predicting significant price growth in the near future. However, it is impossible to say for certain how well the currency will perform. Several factors will play a role in its value, and it is possible that it could experience both highs and lows in the coming years. According to the WalletInvestor crypto analytical source, the value of Polygon may reach as high as $3.47 by the end of July 2022. However, it is also possible that the currency could dip to $2.87 by the end of the year. Beyond 2022, the sky is the limit for Polygon, and it is possible that the currency could reach even higher heights.
Is It a Good Time to Buy Polygon (MATIC) in Q2 2022?
Tough to say, especially with everything that’s been going on with tech stocks and the Fed’s swing at the rates… What is clear as that MATIC’s value may continue to grow due to the efforts of the network’s developers and community investors. Therefore, for the year 2022, the estimated trend is bullish. MATIC is expected to hit a maximum rate of $9.55 by the end of 2024. MATIC’s average price might be around $7.93 at the end of the year. However, it is important to note that the cryptocurrency market is highly volatile and unpredictable, so any predictions should be taken with a grain of salt. Nevertheless, if all goes smoothly, Polygon could reach a maximum price of $79.32 by 2030.
What Puts Polygon (MATIC) Ahead Of The Curve?
The developers of MATIC are highly dedicated and experienced.
The developers of MATIC are a highly dedicated and experienced team that is committed to providing the best possible user experience. They have a deep understanding of the underlying technology and are constantly innovating to improve the platform. In addition, they are very responsive to community feedback and are always looking for ways to make the experience better. As a result, users can rest assured that they are in good hands with the MATIC team.
The community is supportive and invested in the success of the project.
The Polygon community is supportive and invested in the success of the project. MATIC holders are confident that their project will continue to succeed and grow. The project’s team is responsive to the community’s concerns and feedback. They are constantly working on improve the project. The community is friendly and welcoming to new members. They are always willing to help others learn about the project and how to get involved. There is a strong sense of camaraderie among members. They are all working together to make MATIC a success.
MATIC has a solid use case that is currently being put into action.
The project is focused on solving the issues of scalability and Ethereum’s high gas fees. So far, the team has been able to successfully deploy their layer-2 solution on Ethereum’s mainnet, with Polygon seeing a surge in usage and transaction volume since then. This proves that there is definitely a demand for their product and that their solution is viable. With more development, Polygon could very well become the go-to platform for dApp developers looking to launch or move their projects over to Ethereum.
The value of MATIC is likely to appreciate over time as the network grows (instead of conclusion)
When it comes to cryptocurrency, there are a lot of things that can affect the value of a coin. For example, the overall market conditions, the level of adoption, and even the amount of press coverage can all have an impact. However, one thing that is often overlooked is the size of the network. Generally speaking, the larger the network, the more valuable the coin. This is because a larger network indicates a higher level of interest and investment. And while there are no guarantees in the world of crypto, it seems reasonable to expect that the value of MATIC will continue to grow as the network expands.