The cryptocurrency bubble has been growing in size, attracting lots of investors and the next generation of millennials. But, the crypto market is being impacted hard by China’s ban on the use of cryptocurrency.
The panic in crypto selling has resulted in a massive decrease in cryptocurrencies such as Bitcoin, Ether, etc. However, Polygon cryptocurrency is getting attention since it was not significantly affected by the crypto market’s fluctuation.
What Is Polygon (MATIC)?
Polygon is an intermediate technology which means it is a layer-2 protocol that adds to the Ethereum chain by allowing users to develop new protocols without altering the Ethereum chain. Polygon is primarily designed to bring an interoperable and scalable Ethereum network.
MATIC, which is the native token of Polygon, is an ERC-20-based token based in the Ethereumblockchain. There are at present 6.78 million MATIC tokens in circulation, with a maximum that is 10 billion MATIC. The new tokens are created every month in the form of stake rewards.
Polygon permits users to join Ethereum-compatible networks. Users can build new chains, connect to the Ethereum chain, and even make their currency. This lets users profit from the security Ethereum gives without having to pay costly costs.
Polygon employs a consensus proof of stake model to confirm transactions. Proof of stake is achieved by using validators to secure their tokens onto the chain. By doing this, they can get rewards for verifying transactions.
The chain may use tokens that are locked as collateral to penalize those who fail to verify transactions correctly. In addition, the transactions are regularly checked at checkpoints before they are placed on the Ethereum chain. This lets Polygon remain somewhat distinct from Ethereum but still benefit from the advantages of the blockchain.
Is Polygon a Good Investment?
The recent market crash affected this magical coin, as the Polygon cryptocurrency price before the crash was $2.45, Then it dropped back to $1.38. The current cost is Polygon currently stands at $2.24. Because of its advantages over Ethereum, the company has been able to capture the attention of crypto-lovers. This is among the main reasons Polygon is gaining popularity.
While Bitcoin and Ether dominate the crypto market, many investors are looking for new possibilities or investing in alternative cryptocurrencies with a good chance of gaining essential advantages for long-term goals. In this case, Polygon crypto is dominating the race. Mainly, in the wake of the crypto meltdown and its continuous rise in popularity, It is a possibility worth considering.
According to Cointelegraph, on the 17th of May, Polygon had 75000 new users and grew steadily. This is an obvious sign of its popularity with users, which could be highly profitable in the future.
Additionally, network congestion is an issue for layer one networks. Because Polygon is a layer two network, it has its advantages in Defi and the absence of having to pay high transaction charges to miners.
This is the advantage of sidechains. Users can avoid the costly costs resulting from congestion and reap the benefits of popular blockchains like the existing code infrastructure, a solid developer base, etc.
Don’t be deceived by its rising popularity. It’s a cryptocurrency and is an element of the highly volatile cryptocurrency market. If you are looking to make a bet on the Matic Polygon coin, you should be closely watching the projects leveraging the capabilities of smart contracts with being part of the Polygon network. Additionally, you should study the growth in terms of participation.
Polygon Price: To increase your excitement about Polygon, the thematic currency cost is $2.24, which has gone up 36.90 percent in the past 24 hours. With a volume of $8,101 680,911 USD, the Polygon market cap for the coin is $13,987.690,046.
How to Buy Polygon (MATIC):
The popularity of Polygon has risen dramatically throughout the last year. As a result, several popular cryptocurrency trading platforms have started offering the currency. Coinbase, as well as FTX, are two major exchanges that are proud to provide MATIC.
Signing up for an account on any platform is quite simple and generally takes 5-10 minutes. When you sign-up using an email address and password, you might need to fill in your basic personal details. Once this information is verified, you can start trading MATIC.
It is also possible to obtain MATIC via a decentralized exchange (DEX) like Uniswap or SushiSwap wrapped in ETH. However, using a central exchange could be more appropriate for those who are new to crypto.
o MATIC Price Prediction 2022
- Through alliances and partnerships and community financing markets, look back at MATIC to be at work and reaches the level of $3.4, which is appealing yet not feasible.
o MATIC Price Prediction 2023-2025
- It’s too soon to predict MATIC pricing prediction for 2030. In the current economic situation, it’s best to go with MATIC price prediction for 2025. Suppose there are any changes to the governments. Policies and regulations Polygon could also experience its fair share of bad days.
- MATIC is expected to be at $3.5 or even $1.9 so that it does not fall but be consistent.
- It is not an exaggeration to state that MATIC’s price could likely reach a high of $3 soon, but it isn’t described as a highly exaggerated and buoyant price.
- MATIC Price prediction changed in the last year, completely altering the market’s direction from beginning towards the close in the calendar year. Nevertheless, it’s had an incredible voyage.
- In the end, Matic’s growth has been highly competitive, which has led to a promising direction. The token could overgrow and leap, particularly in alliances.
- New Partnerships will bring MATIC into the spotlight and make it the main stage for investing and a highly-regarded cryptocurrency. The result is that more transactions will be completed every second, making it an obstacle against the cryptocurrency rivals of Matic.