Matic (Polygon) has surely been successful deployment of a L2 protocol over Ethereum and the innovation and development of this project definitely suggest a bright future. Will Matic hit $10 price range in 2024 or will it subside
It's a truth and I am ashamed to acknowledge that I missed the early ride with coins like Binance, Polkadot, Shiba and Matic. All of these projects unfolded while I was very much aware of Cryptocurrency and blockchain. Damn I missed because of the trust issues deeply inherent in me. Friends, that might as well be the case with anyone. But the million dollar question is " Should we repent our past mistakes or make correct decisions today?" And everyone replies "Today's the day."
As clearly indicates the title for this post your new train can very well be Polygon, your beloved Matic. I will surely ride big time with it and have a boarding ticket below $1. It's a truth people will board and alight at every point as it stops for everyone and anywhere except the "the Big Bull Run"
Well you might suspect my bullish views for Polygon or you might deny that this is the last chance to buy Matic well below a dollar. That's why I have had a deep analysis that is backed by the facts and future Projections. Let's take a look at the top reasons for Polygon (Matic) to be the next 1000sX in near future.
- The first and foremost is the Use Case of Polygon. Polygon, as we all know, is a L2 chain for Ethereum which gives a higher scalability as well as interoperability. While Ethereum is an amazing network, it’s no secret that it suffers from high gas fees and poor scalability. MATIC solves all that. It’s a Layer 2 scaling solution that provides fast, cheap transactions and scalability for Ethereum dapps. Think of it as Ethereum’s sidechain built for speed and cost-effectiveness.
- Secondly, MATIC has strong fundamentals. It's backed by Binance, COINBASE and billionaire crypto enthusiast Mark Cuban. It also has partnership with Meta and Google.
Matic has $966.5M total value locked in DeFi, and over 53,000 dapps have deployed on its network.
- Let's talk more maths. Matic has a total supply of 10B which is much lower than that of USDT (at 83.8B). As of now USDT sits at 3rd place on market cap and Polygon is at 12th. So crossing 1 dollar just requires a 1/10 of USDT to be invested in Polygon.
- The all time high was $2.92 and the current price is about $0.75 which is neary 75% down. Yes the circulated supply has increased since all time high yet it is to be noted that Polygon has been making continuous progress relentlessly.
- Polygon is not entirely a layer 2 solution for Ethereum instead it should be considered somewhere between a sidechain or layer 2 protocol.
- Ever since 2019 Polygon has almost remaind in the top 20 coins by market cap.
- The price of $0.55 was the result of SEC issuing a list of securities among Cryptocurrencies. But now that pressure is over and we witnessed a sharp rise in prices for polygon recently.
- Most of the predictions on online platforms suggest Polygon to reach $10 by the end of 2030 and $5 by 2025. All the reviews you read or watch are tend to provide optimistic future Projections for Polygon.
Price Prediction:
Definitely the future of Polygon looks so promising and believe it or not this is the last time you an I are watching Polygon below $1.
2023 between $0.51 to $1.75
2024 between $1.25 to $10.00 (considering it will be a bull run next year)
2025 between $1.75 to $8.5
2026 between $0.2.5 to $11.5
The above values have been considered after a great deal of analysis yet I personally believe Polygon shall reach $10 in next Bull Run.
Sure, the overall market is down right now but that won't last forever. When the bull market returns, MATIC is poised to be one of the biggest winners.
The tokenomics are strong, and as more Dapps, Defi projects and NFT marketplaces launch on Polygon, the demand for MATIC will skyrocket.
As always Thanks for Reading
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