• Polygon: A Quick Overview

  • MATIC: Working Module & Latest Updates

  • Polygon vs. Ethereum

  • Latest Updates

  • MATIC Price Prediction: Price History

  • Polygon Price Prediction: Technical Analysis

  • Polygon Price Prediction By Blockchain Reporter

  • Polygon Price Prediction 2024

  • Polygon Price Prediction 2025

  • MATIC Price Forecast for 2026

  • Polygon (MATIC) Price Prediction 2027

  • Polygon Price Prediction 2028

  • Polygon Price Prediction 2029

  • Polygon (MATIC) Price Prediction 2030

  • Polygon Price Forecast 2031

  • Polygon (MATIC) Price Prediction 2032

  • Polygon Price Prediction 2033

  • MATIC Price Target: By Experts

  • Is MATIC A Good Investment? When Should You Buy?

  • Conclusion

  • FAQ

Despite rising uncertainties around Polygon’s MATIC coin, its investors have reasons to remain optimistic. The cryptocurrency gained momentum following the revelation of Polygon 2.0, an upgrade aimed at boosting decentralization within the ecosystem. MATIC is transitioning to a new cryptocurrency, POL, which officially made its debut on the Ethereum mainnet on October 25 last year. To accommodate this change, MATIC owners are afforded the opportunity to exchange their tokens for POL on an equal basis. This development surfaced shortly after the SEC raised concerns, suggesting that MATIC might be operating as an unregistered security in the U.S. Polygon (MATIC), a critical element in enhancing Ethereum’s scalability, has been at the top of Ethereum’s scaling efforts. It achieves this by facilitating transactions off the main chain and utilizing batch proofs to link back to Ethereum, thereby creating a more efficient environment for DeFi, NFTs, and Web3 applications. This approach addresses key issues such as network fragmentation and liquidity challenges, propelling Polygon into its next evolutionary stage, Polygon 2.0. Originally launched as Matic Network in 2017, Polygon has been a pioneer in layer 2 solutions, developing side chains that parallel Ethereum to improve transaction speeds through off-chain computation. In this article, we’ll explore MATIC price with in-depth technical analysis and identify key levels to determine its upcoming price trend. Additionally, we’ll explore MATIC’s future price potential from Polygon price prediction.

Polygon: A Quick Overview

Originally launched as Matic Network, Polygon is touted as the pioneering platform designed to alleviate congestion issues on the Ethereum (ETH) blockchain, in addition to focusing on infrastructure development. It was established in 2017 by ex-Ethereum contributors Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic, with the ambition to develop a comprehensive multi-chain system.

Over recent years, Ether (ETH) has ascended to become the second-largest cryptocurrency by market capitalization and a frontrunner in decentralized finance (DeFi), largely thanks to its support for smart contracts. These are automated contracts that execute when predefined conditions are met, simplifying the creation of decentralized applications (dApps).

Nonetheless, ETH’s surging popularity has paradoxically made the Ethereum blockchain more challenging to use, due to escalating transaction fees and increased network congestion. This situation prompted the development of Matic.

Matic introduced Plasma technology, facilitating transactions off the main Ethereum chain before finalizing them on the main chain, enabling faster transaction speeds without sacrificing the ability to use dApps or the broader Ethereum ecosystem. This approach, known as a layer-2 solution, aimed not to overhaul the foundational blockchain layer but to allow operations beyond it.

In 2021, Matic transitioned to Polygon, signifying not just a rebranding but also a shift in operational dynamics. The revamped platform strived for a genuinely interoperable network of mini-blockchains or sidechains, thereby broadening the scope of blockchain interoperability.

This transformation can be likened to an advanced layer-2 scaling solution, reflecting the original vision of its founders for evolving Matic into Polygon.

It’s important to highlight that on September 15, 2022, Ethereum transitioned to a proof-of-stake (PoS) consensus mechanism, a move anticipated to enhance network performance. The long-term implications of this development on platforms like Polygon are yet to be completely understood.

Like all blockchain networks, Polygon features its native cryptocurrency, known as the polygon coin, with the ticker symbol MATIC. This token is utilized within the Polygon network for transaction fees, staking, and governance purposes.

MATIC: Working Module & Latest Updates

Polygon employs an adapted proof-of-stake (PoS) consensus mechanism, which allows for consensus to be reached with the addition of each block, unlike the traditional PoS approach that requires the processing of numerous blocks for consensus. In this system, participants of the network pledge to lock up their MATIC tokens, refraining from trading or selling them, in return for the opportunity to validate transactions on the Polygon network. Validators who successfully verify transactions are compensated with MATIC tokens.

The core structure of the Polygon network includes a primary blockchain that connects to Ethereum and various other blockchains, supported by numerous side chains branching off from it. These side chains are categorized into three types. Zk-Rollups bundle several cryptocurrency transfers into a single transaction, while Plasma Chains group transactions into blocks. Optimistic Rollups function similarly to Plasma Chains but have the added capability to interact with smart contracts, which are computer programs that execute automatically under predefined conditions.

Serving as a layer-2 scaling solution, Polygon seeks to overcome the challenges faced by the Ethereum network, specifically the high costs of transactions and their slow processing times. Polygon offers the capabilities to:

  • Launch existing blockchains as well as create tailor-made blockchain networks.

  • Facilitate interoperability between Ethereum and other blockchain systems.

  • Assist existing blockchains in achieving compatibility with the Ethereum ecosystem.

Polygon vs. Ethereum

Polygon serves as a complementary layer-2 scaling solution that enhances the Ethereum blockchain. It is designed to augment Ethereum’s capabilities as a platform for blockchain development. By offering extra functionalities in terms of security, sovereignty of individual blockchains, user and developer experiences, and modularity, Polygon extends Ethereum’s utility.

Ethereum and Polygon both utilize a revised proof-of-stake (PoS) consensus mechanism, facilitating the rapid and cost-effective processing of transactions. Notably, Ethereum transitioned to a PoS consensus model in 2022, as detailed by Ledger Academy in “Understanding Ethereum’s Proof of Stake Consensus Algorithm.”

Latest Updates

Zero-knowledge (ZK) proofs, a cryptographic method, are central to off-chain processing, allowing verification without exposing data. This is particularly useful in public blockchains. Polygon 2.0 integrates ZK technology to create a network of ZK-powered sidechains, aiming for massive scalability and unified liquidity.

1/ Today, the next technical proposal of Polygon 2.0 is unveiled:POL, the upgraded token of the Polygon protocol! POL is the next generation native token, designed to secure, align and grow the Polygon ecosystem.Watch the video to get an idea how cool it is, then pic.twitter.com/Gn7KcHpWEY

— Polygon | Aggregated (@0xPolygon) July 13, 2023

Between mid-June and mid-July 2023, it underwent upgrades improving architecture, tokenomics, and governance. Polygon 2.0 seeks to strengthen its position as Ethereum’s value layer, aiming to facilitate value creation and exchange globally.

However, last week, Polygon disclosed that its zero-knowledge Ethereum Virtual Machine (zkEVM) was temporarily offline because of a problem with the blockchain sequencer. Through a message on X, Polygon informed its audience of two million that this problem was exclusive to the zkEVM and did not affect any other blockchain developed with the Polygon Chain Development Kit (CDK).

MATIC Price Prediction: Price History

Let’s dive into the noteworthy moments of Polygon’s pricing history. While historical performance is not a reliable predictor of future outcomes, understanding the token’s past can provide valuable insights for making or interpreting price forecasts for Polygon.

MATIC debuted on the market in 2019, initially valued at under one cent. It crossed the $0.01 threshold later that year and primarily fluctuated around $0.02 for its initial years. The cryptocurrency surge in 2021, along with MATIC’s rebranding to Polygon, sent it to new heights. It exceeded one dollar in early May and soared above $2 by mid-May. Despite a decrease over the subsequent summer, it recovered in the latter half of the year, reaching a record peak of $2.92 on December 27, 2021.

The following year, 2022, was challenging for Polygon and the broader cryptocurrency market, with its value dropping below $1 in early May. After enduring several market downturns, falling below $0.50 in June, the launch of the zkEVM, an Ethereum Virtual Machine-compatible program, briefly pushed its value over $1 in August. It rose above $1 again in the fall, spurred by news of a collaboration with Meta, formerly known as Facebook, on non-fungible tokens (NFTs). However, the collapse of the FTX exchange marked a significant setback, ending the year at $0.7585, a 70% decrease from its value at the start of the year. 

2023 turned out to be a year of ups and downs for Polygon. The cryptocurrency broke through the one-dollar mark in February, but faced a setback when the SEC’s legal actions impacted MATIC’s market value. On June 10, following the announcement that Crypto.com would be halting its institutional services in the United States, its price dropped to $0.5593.

Subsequently, the price of MATIC saw a resurgence. On July 13, buoyed by a judicial decision favoring Ripple’s XRP—declaring it not an unregistered security when traded on exchanges—the price ascended to $0.8775. However, this was followed by a downturn, with the price decreasing to $0.4946 by September 11. Nevertheless, a recovery ensued, and by November 14, the price had climbed to $0.9789.

In recent months, the MATIC price witnessed a robust jump as it broke through the much-anticipated $1 mark following Bitcoin’s record high. Recently, the MATIC price touched the peak of $1.3; however, it has since declined.

Polygon Price Prediction: Technical Analysis

Polygon is encountering resistance along the declining trend line, indicating that bears might be attempting a comeback. However, buyers continue to defend a decline below the $0.9 level. As of writing, MATIC price trades at $0.995, surging over 1.01% in the last 24 hours. 

MATIC/USDT Chart On TradingView

Should the price decline and breach the $0.9 support line, this would shift the short-term momentum towards the bears. Consequently, the MATIC/USDT pair might drop to $0.84, and potentially further to the 50-day SMA at $0.7. 

To avert a downward trend, bulls need to drive the price beyond the declining trend line. Following this, the pair will strive to surpass the significant resistance at $1.1. Achieving this could initiate a new upward phase towards $1.3.

Polygon Price Prediction By Blockchain Reporter

Year Minimum ($) Average ($) Maximum ($) 2024 1.35 1.40 1.51 2025 1.92 1.97 2.36 2026 2.80 2.90 3.33 2027 4.17 4.29 4.84 2028 5.78 6.00 7.15 2029 8.56 8.80 10.05 2030 12.18 12.54 14.67 2031 17.36 17.86 20.95 2032 25.06 25.95 30.13 2033 37.41 38.45 43.18

Polygon Price Prediction 2024

The price of Polygon is predicted to reach a minimum of $1.35 in 2024. The maximum price could hit $1.51, with an average trading price of $1.40 throughout the year. 

Months Minimum ($) Average ($) Maximum ($) January 1.35 1.37 1.36 February 1.3645 1.3818 1.3745 March 1.3791 1.3936 1.3891 April 1.3936 1.4055 1.4036 May 1.4082 1.4173 1.4182 June 1.4227 1.4291 1.4327 July 1.4373 1.4409 1.4473 August 1.4518 1.4527 1.4618 September 1.4664 1.4645 1.4764 October 1.4809 1.4764 1.4909 November 1.4955 1.4882 1.5055 December 1.51 1.5 1.52

Polygon Price Prediction 2025

The minimum expected price of Polygon is $1.92 in 2025, while it could soar to a maximum of $2.36. The average price is anticipated to be $1.97 throughout the year. 

Months Minimum ($) Average ($) Maximum ($) January 1.92 1.94 1.93 February 1.96 1.9773 1.97 March 2.00 2.0145 2.01 April 2.04 2.0518 2.05 May 2.08 2.0891 2.09 June 2.12 2.1264 2.13 July 2.16 2.1636 2.17 August 2.20 2.2009 2.21 September 2.24 2.2382 2.25 October 2.28 2.2755 2.29 November 2.32 2.3127 2.33 December 2.36 2.35 2.37

MATIC Price Forecast for 2026

In 2026, Polygon’s price is forecasted to hit a minimum of $2.80. The price could peak at $3.33, with the average price expected to be $2.90. 

Months Minimum ($) Average ($) Maximum ($) January 2.80 2.82 2.81 February 2.8482 2.8655 2.8582 March 2.8964 2.9109 2.9064 April 2.9445 2.9564 2.9545 May 2.9927 3.0018 3.0027 June 3.0409 3.0473 3.0509 July 3.0891 3.0927 3.0991 August 3.1373 3.1382 3.1473 September 3.1855 3.1836 3.1955 October 3.2336 3.2291 3.2436 November 3.2818 3.2745 3.2918 December 3.33 3.32 3.34

Polygon (MATIC) Price Prediction 2027

The price of Polygon in 2027 is expected to reach a minimum of $4.17. The maximum price is forecasted to be $4.84, with an average of $4.29. 

Months Minimum ($) Average ($) Maximum ($) January 4.17 4.19 4.18 February 4.2309 4.2482 4.2409 March 4.2918 4.3064 4.3018 April 4.3527 4.3645 4.3627 May 4.4136 4.4227 4.4236 June 4.4745 4.4809 4.4845 July 4.5355 4.5391 4.5455 August 4.5964 4.5973 4.6064 September 4.6573 4.6555 4.6673 October 4.7182 4.7136 4.7282 November 4.7791 4.7718 4.7891 December 4.84 4.83 4.85

Polygon Price Prediction 2028

In 2028, the minimum price of Polygon is anticipated to be $5.78. It could reach a maximum of $7.15, with the average trading price around $6.00. 

Months Minimum ($) Average ($) Maximum ($) January 5.78 5.80 5.79 February 5.9045 5.9218 5.9145 March 6.0291 6.0436 6.0391 April 6.1536 6.1655 6.1636 May 6.2782 6.2873 6.2882 June 6.4027 6.4091 6.4127 July 6.5273 6.5309 6.5373 August 6.6518 6.6527 6.6618 September 6.7764 6.7745 6.7864 October 6.9009 6.8964 6.9109 November 7.0255 7.0182 7.0355 December 7.15 7.14 7.16

Polygon Price Prediction 2029

The minimum price level for Polygon in 2029 is projected to be $8.56. The maximum price could reach $10.05, with the average forecast price at $8.80. 

Months Minimum ($) Average ($) Maximum ($) January 8.56 8.58 8.57 February 8.6955 8.7127 8.7055 March 8.8309 8.8455 8.8409 April 8.9664 8.9782 8.9764 May 9.1018 9.1109 9.1118 June 9.2373 9.2436 9.2473 July 9.3727 9.3764 9.3827 August 9.5082 9.5091 9.5182 September 9.6436 9.6418 9.6536 October 9.7791 9.7745 9.7891 November 9.9145 9.9073 9.9245 December 10.05 10.04 10.06

Polygon (MATIC) Price Prediction 2030

Polygon’s price is predicted to reach a minimum of $12.18 in 2030. The maximum price might hit $14.67, with an average trading price of $12.54 throughout the year. 

Months Minimum ($) Average ($) Maximum ($) January 12.18 12.20 12.19 February 12.4064 12.4236 12.4164 March 12.6327 12.6473 12.6427 April 12.8591 12.8709 12.8691 May 13.0855 13.0945 13.0955 June 13.3118 13.3182 13.3218 July 13.5382 13.5418 13.5482 August 13.7645 13.7655 13.7745 September 13.9909 13.9891 14.0009 October 14.2173 14.2127 14.2273 November 14.4436 14.4364 14.4536 December 14.67 14.66 14.68

Polygon Price Forecast 2031

The price of Polygon in 2031 is anticipated to reach a minimum of $17.36. The maximum price could be $20.95, with an average trading price of $17.86. 

Months Minimum ($) Average ($) Maximum ($) January 17.36 17.38 17.37 February 17.6864 17.7036 17.6964 March 18.0127 18.0273 18.0227 April 18.3391 18.3509 18.3491 May 18.6655 18.6745 18.6755 June 18.9918 18.9982 19.0018 July 19.3182 19.3218 19.3282 August 19.6445 19.6455 19.6545 September 19.9709 19.9691 19.9809 October 20.2973 20.2927 20.3073 November 20.6236 20.6164 20.6336 December 20.95 20.94 20.96

Polygon (MATIC) Price Prediction 2032

In 2032, the minimum expected price of Polygon is $25.06. It could reach a maximum of $30.13, with the average price forecasted to be $25.95. 

Months Minimum ($) Average ($) Maximum ($) January 25.06 25.08 25.07 February 25.5209 25.5382 25.5309 March 25.9818 25.9964 25.9918 April 26.4427 26.4545 26.4527 May 26.9036 26.9127 26.9136 June 27.3645 27.3709 27.3745 July 27.8255 27.8291 27.8355 August 28.2864 28.2873 28.2964 September 28.7473 28.7455 28.7573 October 29.2082 29.2036 29.2182 November 29.6691 29.6618 29.6791 December 30.13 30.12 30.14

Polygon Price Prediction 2033

For 2033, Polygon’s price is forecasted to reach a minimum of $37.41. The maximum price is expected to be $43.18, with an average trading value of $38.45. 

Months Minimum ($) Average ($) Maximum ($) January 37.41 37.43 37.42 February 37.9345 37.9518 37.9445 March 38.4591 38.4736 38.4691 April 38.9836 38.9955 38.9936 May 39.5082 39.5173 39.5182 June 40.0327 40.0391 40.0427 July 40.5573 40.5609 40.5673 August 41.0818 41.0827 41.0918 September 41.6064 41.6045 41.6164 October 42.1309 42.1264 42.1409 November 42.6555 42.6482 42.6655 December 43.18 43.17 43.19

MATIC Price Target: By Experts

According to the current Polygon price prediction from Coincodex, the price of Polygon is expected to increase by 7.41% and reach $1.057352 by April 29, 2024. The technical indicators used by Coincodex suggest that the current market sentiment is Neutral, and the Fear & Greed Index indicates a score of 75, which falls into the category of Greed. Over the past 30 days, Polygon has experienced 15 green days out of 30, equating to a 50% rate, with a price volatility of 7.45%.

The forecast from Coincodex suggests that it is presently a favorable time to purchase Polygon. Further, based on historical price movements and BTC halving cycles, Coincodex estimates the lowest Polygon price prediction for 2025 to be $0.984451. Meanwhile, the highest predicted price for Polygon next year is anticipated to reach $3.68.

According to the current Polygon price prediction by Digital Coin Price, the value of Polygon is expected to increase by 222.73%, reaching $3.50 by the end of 2026. Digital Coin Price’s analysis reveals that all technical indicators currently suggest a Bearish sentiment, while the Fear & Greed Index is at 11.48, indicating extreme fear. Based on their forecast, selling Polygon at this time is considered risky. As of March 30, 2024, almost all technical analysis indicators were signaling bullish signals, whereas other indicators were signaling bearish signals, illustrating a generally bearish sentiment among Polygon price predictions.

Is MATIC A Good Investment? When Should You Buy?

Polygon is on a mission to accelerate cryptocurrency adoption, standing out as a leading layer 2 scaling solution. Despite facing setbacks like much of the market in the past year, it remains a major player among altcoins. The future holds considerable promise, much of which hinges on the roll-out of Polygon 2.0. 

In the technical documentation or whitepaper, the platform originally named Matic Network, now known as Polygon, highlights that despite the growing interest in blockchain technology, numerous platforms experience slowdowns during peak usage times, leading to increased time and financial costs for users.

It notes that while certain blockchains propose remedies, they often fail to accommodate decentralized applications (dApps), as stated in the documentation.

The whitepaper elaborates: “The Matic Network aims to address the challenges of scalability and user-friendliness without sacrificing decentralization, by building on the existing developer community and ecosystem.”

The introduction of the new POL coin has potential for success, yet there’s a chance that traders might lean towards the more established MATIC instead. Additionally, the outcomes of the latest SEC court cases will be crucial to watch. As always, conducting thorough research is essential.

Conclusion

Polygon (MATIC) serves as both a cryptocurrency and a technological infrastructure, developed with the aim of enhancing and interlinking projects and blockchains compatible with Ethereum. The MATIC token plays a crucial role in governing and safeguarding the Polygon ecosystem, in addition to being utilized for the settlement of transaction charges. Investors interested in acquiring MATIC tokens can do so through various exchanges, including Coinbase and Kraken.

FAQ

What is Polygon (MATIC)?

Polygon, initially known as Matic Network, is a blockchain scalability platform that enhances Ethereum’s scalability by processing transactions off the main chain, using side chains for faster and cheaper transactions.

Why is Polygon important to Ethereum’s ecosystem?

Polygon addresses key challenges of Ethereum such as high gas fees and slow transaction speeds by allowing decentralized applications (dApps) to run on its scalable side chains, thus enhancing the overall efficiency and usability of the Ethereum ecosystem.

How does Polygon (MATIC) work?

Polygon utilizes a modified proof-of-stake (PoS) consensus mechanism and layer-2 side chains to process transactions off the main Ethereum blockchain. This allows for quicker and more cost-effective transactions while maintaining security and interoperability with Ethereum.

Can Polygon (MATIC) price reach $10 in 2024?

While it’s challenging to predict exact future prices, Polygon’s strategic upgrades and growing adoption in the DeFi and NFT space provide a positive outlook. The success of Polygon 2.0 and broader market trends will significantly influence its price potential.

How can investors buy Polygon (MATIC) tokens?

Investors can purchase MATIC tokens on various cryptocurrency exchanges, including Coinbase, Binance, and Kraken, among others. It’s advisable to use reputable exchanges and to store tokens securely in a wallet.