This Polygon (Matic) prediction is purely technical analysis. Matic price prediction will keep you ahead of the curve to decide whether it is the right digital asset to invest in or not.
At the time, many cryptocurrencies have sky-rocketed to maintain the all-new high. In contrast, a few cryptocurrencies had faced a dip to the ground in 2021, i.e., the bearish run. Therefore, cryptocurrency enthusiasts are confused, whether to hold Matic or sell before the trend reverses.
Moreover, the cryptocurrency market is maintaining the bullish trend at the time. It led people to generate higher profits on some of the most traded cryptocurrencies. Is Matic case the same? We'll be analysing Matic based on its trends and will be predicting its price in the coming years.
Table of Content
- What is Polygon (Matic)?
- Matic Current market Status
- History of Matic
- Matic Price Analysis
- Matic Price Prediction for Next 5 Years
- How to Buy Matic in India?
Also Read: Ethereum Price Prediction: Will Ethereum Hit $5000 in 2021?
What is Polygon (Matic)?
Polygon is a protocol and a framework used to build and connect Ethereum compatible blockchain networks. It is the first easy-to-use for Ethereum scaling and infrastructure development. Matic uses Polygon SDK, a modular, extensible and adaptable framework that supports building multiple types of DApps on it.
Matic is the native token of Polygon, i.e., an ERC-20 token based on the Ethereum blockchain. Moreover, the Polygon technology materialized through two main components - the Polygon framework and the Polygon protocol.
In terms of framework, the Polygon have a growing set of modules such as pluggable consensus, staking, governance, EVM/EWSAM, execution environments, dispute resolvers etc. With such a framework, anyone can use it for building custom blockchains.
In terms of protocol, Polygon provides Security as a Service (SaaS), i.e., a non-mandatory, modular security service provided by Ethereum or using dedicated sets of validators.
Polygon supports the two most Ethereum-based compatible blockchain networks, i.e., standalone networks and networks leveraging Security as a Service.
Secured chains use SaaS technology instead of using their technological pool. The service is either provided by Ethereum directly or by a pool of professional validators, the same as Polkadot's security. Secured chains are highly secured with a trade-off of sacrificing a portion of independence and flexibility. Various implementations can be put on, such as Polygon POS, zk Rollups, Optimistic Rollups, and Validum Chains. Optimistic and Validum is expected to roll out soon.
Stand-Alone Chains are the effective Ethereum-compatible blockchain network with their own pool of validators. With the highest level of independence and flexibility, with the trade-off of sometimes challenging validator pool establishing. Implementations are expected to be rolling out soon, such as Application-specific chains and Industry/Enterprise chains.
When talking about architecture, the Polygon has four unique and composable layers, i.e., Execution Layer, Polygon Networks Layer, Security Layer, and Ethereum Layer.
The Execution layer is for executing transactions and interprets. It is divided into two - Smart Contracts (EVM) and Execution Environment (EWSAM). After this, the Polygon layer consists of Polygon protocols for connecting and changing arbitrary messages. This layer includes Transaction Collation, Consensus, Ordering, and Data.
The Security layer manages the specialized and non-mandatory set of validators that checks the validity of any Polygon chain over a defined fee. The layer is comprised of Validator Management, Validations, and Proof Generation. Polygon uses the Ethereum layer to host and execute any mission-critical component of their logic. This layer is build using Finality, Stacking, Disputes, and Messaging.
Also Read: Cardano Price Prediction – Will ADA Price Hit $10 in 2021 End?
Matic Market Status
Polygon is one of the most loved cryptocurrencies in 2021. With the increased market capitalization of $10,017,163,616, it ranks 21 on CoinMarketCap. Polygon total value stacked or locked in the protocol is $8,368,519,799 with the TVL ratio of 1.2. Out of a total supply of 10,000,000,000, the circulating supply of Polygon is 6.72B MATIC.
The dominance of the Matic market status is 0.40 percent. When comparing Stellar and Shiba Inu to Polygon, the market dominance is 0.30 percent and 0.44 percent.
When we talk about Matic market status, the return on investment (ROI) could be increased by 32913.6 percent if you have invested on the day of its launch.
Also Read: XRP Price Prediction: Will XRP hit $8 Soon?
Recent Polygon Updates
On September 14, 2021, Polygon announced a collaboration with EY to co-develop Ethereum scaling solutions for enterprise and launch Polygon Nightfall.
On September 2, 2021, Polygon established a Protocol team at Coinbase for scaling ETH through integration with L2 and other ETH scaling solutions.
On August 13, Hermez Network merged with Polygon to become Hermez Polygon. Also, to increase the adoption of NFTs and Web3, Polygon and DraftKings sign the strategic agreement. DraftKing will leverage its skills to introduce whole new digital sports to audiences buying NFTs.
On October 5, 2021, Domination Finance integrates with Polygon to provide a more user-friendly experience and lower transaction fees to their users.
The news outbursts the spark of joy on October 4, 2021, when the Polygon enthusiasts come to know about OpenSea, the most successful NFT marketplace has integrated Polygon PoS to provide users with faster and lower fees transactions.
Earlier DoraHacks organized round 1 of a Polygon-Grants Hackathon with a prize pool of $1,00,000. It was quadratic funding for amplifying donations made by a large community consisting of small groups with big pockets.
The history of Polygon entails deep to the crust. Polygon has done much to maintain its stability in such a highly volatile market. Also, it has laid a robust foundation and gained vast traction.
Also Read: Dogecoin Price Prediction: Will DOGE Brust Price to $1 in 2021?
Matic Price Analysis 2021
Polygon is an Ethereum-based start-up focusing on the solution that can withhold disturbing problems. The first two most crucial problems faced are high transaction fees and slower transaction time. Moreover, Polygon is aiming to address the low transaction time of Ethereum.
When we talk about the Matic price analysis, the Polygon maintains a sustainable position in the market. On October 15, 2021, we see a surge in price calling the resistance point on Polygon. But as predicted earlier, the Matic has to reverse the trend, and the traders might face a dip of at least 45 percent. But to our astonishment, the mergers and other events made Matic attained stability as of now.
Also Read: How to Choose the Best Cryptocurrency Trading Platform in India
Matic Price Prediction for Next 5 Years
In the next five years, Matic price can surge to $6.72 per coin. However, reaching such a sustainable price value will be as easy as pie. This price level will be benefiting more to long-term traders. But for the short-term traders, it is advised to keep a holding on your portfolio if you have Polygon already added.
How to buy Matic in India?
Matic is maintaining its stability since last week. On a long-term basis, traders seemed confident over the increase in the price by the next year. If you are willing to buy Polygon (Matic) in India, you can choose to trade on Flitpay.
Flitpay is the most trusted platform in India with a 99.9 percent server uptime rate. Also, Flitpay was the first in India to launch Instant Withdrawal and Deposit, UPI transactions, and Practice Platform. With an easy-to-use interface, you can place the buy order in just a few clicks.
FAQ
What is Polygon?
Polygon, an Ethereum-based startup that focuses on improving Ethereum by solving its core issues such as higher transaction fees and slower transaction time.
Will Matic Surpass its Current ATH?
Yes, Matic has a higher chance to surpass its ATH by June 2022.
Can Matic Reach $5 in 2021?
There are likely to be lesser chances of reaching a $5 benchmark before the end of 2021. As Matic, for now, is maintaining its stability to cope up with the future dips. But if you invest in Matic in 2021, as per our Matic price prediction, it can be a deal of profit in the future.
Is Matic a good investment in 2021?
For long-term traders, Matic is a good investment. Matic traders should not worry about the dips. In the coming year, i.e., 2022, there are higher chances that Matic will hit the benchmark of $6.72 per coin.
