Polygon Price Prediction 2030

Polygon Price Prediction 2030

Polygon Price Prediction 2030

The price of MATIC, the currency of Polygon, the Ethereum interoperability framework, is up 6% as it attempts to reclaim some of the momentum it gained earlier in the month.

As with many other cryptocurrencies, it had a sharp decline and subsequent recovery in the aftermath of Russia’s invasion of Ukraine. Today, the coin’s prognosis seems more optimistic with reports that Polygon had secured $450 million in a private sale of its own MATIC token to accelerate broad adoption and cement its own position in Web3. Polygon Price Prediction 2030

The Polygon framework intends to improve the interoperability of the Ethereum blockchain with other comparable networks.

At today’s price of $1.52, MATIC has a market value of $11.68 billion, making it the sixteenth biggest cryptocurrency by market capitalization, according to CoinMarketCap. Follow our thorough Polygon price forecast and stay up to date on the latest Polygon (MATIC) news to see whether the stock is a good fit for your investing portfolio.

 

Polygon Price Prediction 2030

Polygon Price Prediction 2030

Polygon Price Prediction 2030

Technical analysis of Polygon (MATIC)

MATIC was one among the year’s top cryptocurrency gainers. The price increased from $0.01 on 1 January 2021 to a peak of $2.92 in 2021. (27 December). MATIC, Polygon’s native token, increased by over 760 percent during a four-week period, increasing from $0.34 on 20 April 2021 to an all-time high of $2.68 on 18 May 2021.

Following its record high, MATIC fell to $1.09 on 23 May, but quickly recovered to $2.21 on 26 May 2021. The token’s price progressively declined to $0.69 on 20 July 2021, but has since regained some momentum. Polygon Price Prediction 2030

By October’s conclusion, the MATIC price had risen to a new all-time high of $2.13. Since then, the token’s value has dwindled, falling from 2.13 on 28 October to $1.58 in November 2021. It surged to $2.92 in December – a new all-time high – before dropping to $2.15.

 

Will the MATIC token overcome recent pressure and re-establish positive momentum in 2022?

With the Matic to USD predicted for the short to medium term this year, traders should keep an eye out for key support and resistance levels.

According to CoinCodex, the closest support level is at $1.42, followed by $1.39. The first level of resistance is at $1.47, followed by $1.49. It predicted the MATIC price in a neutral manner, with 13 technical analysis indicators issuing bullish indications and 14 issuing negative signals.

Polygon Price Prediction 2030

Polygon Price Prediction 2030

Major pricing drivers for Polygon (MATIC)

Recent price swings might have been sparked by news about Polygon (MATIC).

Polygon Network announced the formation of a decentralized independent organization on 19 August 2021. (DAO). According to Polygon, the system attempts to establish committees and facilitate communication between Sushi, Aave, and QuickSwap in order to “deliver DeFi to the next million consumers.” Polygon Price Prediction 2030

Ernst & Young (EY) and Polygon announced a collaboration on 14 September 2021 to develop and deploy scalability and enterprise solutions for the Ethereum ecosystem. “EY and Polygon will collaborate on Polygon Nightfall, a public, privacy-focused Rollup,” as part of this endeavor. Additionally, EY will provide its other flagship blockchain solutions on Polygon and collaborate on the development of future Polygon-based business blockchains.”

On October 20, 2021, Bitwise Asset Management, a San Francisco-based digital asset management firm, announced the launch of the Bitwise Polygon Fund (MATIC). According to the company’s news statement, the Fund will function as a professionally managed investment vehicle for rich Bitwise customers to have access to MATIC, Polygon’s own cryptocurrency. Polygon Price Prediction 2030

Polygon released their latest user growth report on October 29. According to the company’s statistics, Polygon has “83.14 percent of Ethereum’s active addresses.” Since 1 October, Polygon has had a greater daily average user base than Ethereum.

On November 18, 21Shares, a cryptocurrency exchange-traded product (ETP) provider, published a product connected to polygon’s performance on the Six Swiss Exchange. It listed its polygon ETP on the Euronext markets in Paris and Amsterdam on 1 December.

On November 20, Polygon requested that Uniswap, the DeFi protocol, deploy to Polygon PoS. The UNI community has agreed, and the transfer is now imminent. Other significant protocols, such Aave and Sushiswap, have already shifted to Polygon in order to escape Ethereum’s relatively high transaction fees, poor speeds, and crowded network. Polygon Price Prediction 2030

On 30 November, IDEX, the decentralized exchange, announced the debut of version 3 of its platform on the Polygon network, claiming it to be the world’s first hybrid liquidity DEX.

On 7 December, Polygon announced a strategic agreement with Wanchain, a decentralized blockchain interoperability solution, to “further accelerate the adoption of Layer 2 cross-chain bridges and the overall development of interoperable blockchain technology.”

Polygon Price Prediction 2030

Polygon Price Prediction 2030

Polygon announced on 8 December that it would be a part of ClayStack, a decentralized liquid staking platform, when its Malawi Testnet starts this month. ClayStack’s technology enables users to stake their crypto assets while retaining liquidity by providing an equal liquid derivative token that is fungible, transferrable, and receives daily rewards – in this instance, the csMATIC, which can be used inside Polygon’s DeFi ecosystem.

On 9 December, Polygon announced the acquisition of Mir, a firm specializing in ZK (zero knowledge) cryptographic technology, for $400 million. Mir developers will now join the team developing Polygon Zero, a “highly scalable, Ethereum-compatible ZK Rollup.”

On December 20, Polygon announced the launch of Uniswap, a mechanism for swapping coins. “All Uniswap V3 contracts have been deployed to the Polygon PoS mainnet, and Polygon has been integrated into the official Uniswap interface,” the announcement said.

Polygon disclosed on 29 December that two white hat hackers had discovered a severe network vulnerability, which was later patched on 3 December. According to Polygon, the malevolent hacker stole 801,601 MATIC before to the network update taking place. It said that it has awarded a prize of around $3.46 million to the two white hats who assisted in discovering the flaw. Polygon Price Prediction 2030

Polygon announced Plonky2 on 10 January, describing it as a significant milestone for zero-knowledge cryptography. Plonky2 is a recursive SNARK (a cryptographic proof that one person has some specified information without disclosing that information) that is “100x quicker than current alternatives and natively compatible with Ethereum.”

Polygon said on 27 January that it has over 7,000 decentralized apps (dApps) operating on the network in December, more than doubling the amount only three months before. It said that it is gaining applications in decentralized finance (DeFi) and non-fungible tokens (NFTs) after their growing popularity “caused congestion and skyrocketing costs on the Ethereum mainnet last year.”

Polygon raised $450 million in a private sale of its native MATIC token on 7 February to assist Ethereum flourish and pave the road for widespread adoption of Web3 apps. Sequoia Capital India led the foundation round, which featured over 30 other investors, including SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, and Tiger Global. It said that the funding would also enable it to continue investing in zero knowledge (ZK) technology, which it believes will be critical for onboarding the next billion Web3 users. Polygon Price Prediction 2030

Wirex, a payments platform and non-custodial bitcoin wallet, said on 23 February that it is launching on Polygon “to deliver cheap costs and fast transaction speeds to its ecosystem’s over 4.5 million members.” Wirex users in 130 countries may store their cryptos using the mobile app.

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