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Polygon Price Prediction: When will MATIC Price Hit US$2?

Polygon, earlier known as MATIC network, is one of the fastest increasing altcoins currently. It shot to prominence when US-based billionaire entrepreneur Mark Cuban invested an undisclosed amount in Made-in-India blockchain startup, a cryptocurrency platform named Polygon. Serial startup investor, Cuban, had said:

“Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.”

Reports say that Mark Cuban is integrating Polygon cryptocurrency into a portfolio company called Lazy.com that enables people to easily display NFTs (non-fungible tokens). Cuban is reportedly working towards building a new online gallery for displaying NFTs in any form. 

Now, the question is, will the Polygon cryptocurrency prices reach US$2 by the end of this year, or will it take more time? To answer this Polygon price prediction analysis, let me walk you through the concept of this cryptocurrency, fundamental analysis, important facts and figures, and ultimately Polygon MATIC price prediction by the end of 2021 and the coming 5-years. 

Polygon (MATIC) Coins: Facts & Figures

All these facts and figures will help you to make a decision on investing in Polygon by making MATIC price predictions:

  • MATIC cryptocurrency price (Current): US$1.32 (as of September 14, 2021)
  • Trading Volume (24 hour): US$889,172,328
  • All Time High (ATH) Price: US$2.68 (reached on May 18, 2021)
  • All Time Low (ATL) Price: US$$0.003012 (reached on May 09, 2019)
  • YTD (Year-To-Date) Return: +7,388% (Jan 1, 2021 to September 14, 2021)
  • Market Cap: US$8,808,219,618
  • Crypto Rank (in terms of market cap): 21
  • Fully Diluted Market Cap: US$13,231,560,917
  • Max Supply: 10,000,000,000
  • Total Supply: 10,000,000,000
  • Circulating Supply: 6.65 billion MATIC

What is Polygon MATIC?

Polygon MATIC platform was founded by 3 Indians - Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. All of them are based in Mumbai. This India-based cryptocurrency platform successfully tackled some specific scalability issues (scaling solutions), thereby increasing the speed of transactions and the scalability of the network. 

Polygon was earlier called MATIC Network. It aimed to solve the scalability issues dealt with by the Ethereum blockchain. It was only in February 2021, the MATIC network was rebranded to Polygon Network. However, this time Polygon’s objectives have broadened and some technological upgrades have been done. 

Fundamental Analysis of Polygon Blockchain Technology & Platform

Polygon network is based on PoS (Proof of Stake) consensus. It comes with a sidechain of the mechanism as well as a group of validators. The validators promise to increase the transaction per second (TPS). This, in turn, helps to reduce the transaction charges (gas fees). It is important to note that the Polygon network works on a Plasma framework. This prevents congestion of the network, resolving the scalability issues. 

Matic Network is a layer-2 scaling platform. It helps in facilitating off-chain transactions for both payments and generalized off-chain smart contracts in a fast and secured manner. Matic Network has come up as a viable scaling solution for the Ethereum network. This is because it uses innovative protocols for allowing faster processing of Ethereum-based transactions. 

Polygon employs the plasma frame for developing DApps (decentralized applications). The network is also in the process to create browser extensions as well as desktop wallets. Plasma framework helps to create decentralized apps that are able to seamlessly interact with each other. The Proof of Stake checkpoints helps multiple transactions that occur on a single side chain. 

Polygon Price Prediction

In 2021 YTD (year-to-date; from Jan 1 to Sept 14, 2021), the price of Polygon MATIC coin has increased by over 7,388%. In fact, the price rise of token MATIC continued till it touched an all-time high (ATH) at US$2.68 on May 18, 2021. After touching the ATH, its price started to fall drastically and reached US$0.6901 on July 20, 2021. Since ATH, the Polygon price has corrected by over 50% and is currently hovering around US$1.32. 

Polygon MATIC Price Prediction 2021

If the Polygon network continues its ongoing uptrend, there are high chances for the price to reach US$2.92 by the end of 2021. 

Polygon MATIC Price Prediction 2022

The upcoming 2022 is expected to start the year with significant bullishness. Many experts believe that the MATIC price is expected to reach US$5.008 by the end of 2022, especially because the Polygon token is interconnected to that of Ethereum. If there is supply pressure on the token, the price may correct back to US$2.915. With regular market pressures, the Polygon price forecast is to reach US$3.687 by 2022.

Polygon Price Prediction in Next 5-Years

Polygon (MATIC) is expected to witness a dream run in the coming 5-years and is likely to become top 10 cryptos (in terms of market capitalization). With the further improvement in TPS and scalability as well as the long-term success of layer-2 blockchain, the experts make price forecasts of MATIC tokens to reach anywhere from US$10.941 to US$12.241. Some proponents also believe that with the ushering of the altcoin era, MATIC price may reach a potential high of US$100 by 2025-26.

Final Words

Always remember that cryptocurrency investment advice always comes with the risk of loss. As prices of cryptocurrencies are highly volatile, you should be ready to consider the loss aspect too. If you can’t afford to lose money, crypto investment is not for you. Instead invest in fixed income assets. To be sure about your investment, always go through the fundamentals, technicals, and price history trends of the Polygon market. Once you are absolutely sure about investing, go through the Polygon network price prediction, and then invest.