In an official blog post, Polygon explains how they were able to retire $400,000 of carbon credits that offset the entirety of CO2 debt accumulated by the network since inception.
Polygon is always on the forefront of green business. They lead their industry by converting to carbon neutrality and moving towards becoming a net positive for the environment.
The outlook for Polygon looks more positive after the news that Polygon had raised a $450m war chest through a private sale of its native MATIC token to advance the mass adoption and its own position in Web3. So, it's interesting to see how eco-friendly production affects the coin in Polygon Price Prediction. Let's dive in!
Today, Polygon is trading at $?0.8586 with a 24-hour trading volume of $?381.78M, market cap of $?6.87B, and market dominance of 0.61%. The MATIC price increased 0.66% in the last 24 hours. The circulating supply of Polygon is around 8.01B MATIC, out of a maximum possible supply of 10.00B MATIC.
TL; DR Breakdown
The MATIC price analysis for 14 May confirms support from bulls as the price surged from $0.84. Though bulls are trying to push the price above EMA20 resistance, sellers are coming up with intense bearish domination, creating a fear zone near $0.87 resistance level. After reaching a high of $0.8692 today, MATIC price got rejected and is currently facing a minor downturn.
Analyzing the daily price chart of Polygon, MATIC's price has witnessed minor decline in the last 12 hours, after facing intense bearish battle near $0.87. The MATIC/USD pair faced a rejection at $0.8692 and initiated a downward trend toward its 23.6% Fib level. The 24-hour volume has steeply declined from yesterday's level to $5.8 million, showing that traders are focusing on other altcoins. MATIC price is currently trading at $0.8586, surging over 0.66% in the last 24 hours.
The RSI-14 trend line has made a surge to 32-level as bulls initiated a bullish momentum in MATIC price near $0.84. The SMA-14 level suggests a volatile trading session in the next few hours.
The 4-hour MATIC price chart suggests that bulls have failed to push the altcoin's price above EMA20 as sellers emerged with a spike in short positions. Today, MATIC price has formed a low near $0.84 and the asset is now again declining to test that level.
The BoP indicator has reversed its pattern and entered the bearish zone as it trades at 0.4, forcing bulls to liquidate their holdings near immediate support levels (Stop loss).
Green candles formed by the MACD line are now getting shorter as there is not enough buying pressure to hold MATIC's price trend near EMA20.
The hourly price chart confirms that MATIC price is trapped under intense battle between bears and bulls. If MATIC price successfully holds its momentum near its upper-edge of the triangle pattern, it may break out and touch the EMA200 resistance at $0.8839.
If bulls fail to initiate a surge, MATIC price may drop below the immediate support line at $0.85, resulting in a downward correction to $0.84.
The token also climbed above its 50-day exponential moving average. Polygon's joining Disney's accelerator program to develop augmented reality, non-fungible token (NFT), and artificial intelligence experiences might have kindled the interest in MATIC. Is there a chance of the token going past $1?
Previously, Polygon (MATIC)'s support of carbon neutrality apparently impressed environment-conscious users and led to the demand for MATIC, leading the price up by 30%. Resistance is expected at around the $0.73 level.
According to our MATIC price prediction for 2023, Polygon might surge to a maximum price of $1.66 and a minimum price of $1.43. The average price expected for 2023 is $1.49.
According to our MATIC price prediction, In 2024, the price of Polygon is expected to reach a minimum price value of $2.09. The MATIC price can reach a maximum price value of $2.46 with an average value of $2.16.
MATIC Price Prediction 2025 suggests that the asset could possibly reach a maximum price of $3.69 and a minimum price of $3.06. The average MATIC price is expected to be around $3.17 in 2025.
Polygon's price forecast for 2026 suggests that the asset might reach a minimum price of $4.49 and a maximum price of $5.29, with the average trading value being $4.65.
Polygon price forecast for 2027 suggests Polygon price is forecast to reach the lowest possible level of $5.75 in 2027. Per our findings, the MATIC price could reach the maximum possible level of$7.83 with an average trading price of $6.76.
The Polygon price forecast for 2028 suggests that Polygon might surge to a minimum price of $9.55 and a maximum price of $11.49, with the average forecast price being $9.82
Our Polygon coin price prediction for 2029, the price of Polygon is expected to reach a minimum level of $13.47 in 2029. The MATIC price can reach a maximum level of $16.62, with an average price of $13.86 throughout 2029.
Our Polygon crypto price prediction shows MATIC will have a minimum price of $19.85 and a maximum price of $23.76, with the average forecast price being $20.54 in 2030.
Polygon MATIC price prediction for 2031 suggests MATIC will attain a price of Polygon is predicted to reach at a minimum level of $29.61. The MATIC price can reach a maximum level of $34.42 with an average trading price of $30.43.
According to Polygon MATIC price prediction for 2032, the price of Polygon is predicted to reach a minimum level of $41.73. The MATIC price can reach a maximum of $50.01, with the average forecast price of$42.94 throughout 2032.
CoinCodex had a rather gloomy short-term polygon price prediction for 2023, saying the coin could drop to under $1.03 by 25 March before dropping further to $0.9924 by 19 April. The site's technical analysis was bearish, with 17 indicators making downbeat signals against 12 sending bullish ones.
The site's long-term projections for MATIC suggest that in the best-case scenario, MATIC's price prediction for 2026 is $?22.12 if it follows Facebook's growth. If Polygon follows Internet growth, the prediction for 2026 would be $?2.54.
DigitalCoinPrice has a bullish MATIC price prediction for 2023 and beyond, with a high of $2.40 in December 2023. The site's technical analysis is bullish, suggesting that MATIC's price could trade at a minimum of $4.21, an average of $4.83, and a maximum price of $5.02 in 2026.
DigitalCoinPrice's long-term projection for 2029 is bullish, with a high of $8.03 and an average price of $7.82, while the prediction for 2032 is $21.16.
According to Price Prediction Net Polygon price prediction 2023, the maximum price will be around $1.66. The minimum price level might be around $1.36, with an average trading price of $1.40. Price Prediction Net's long-term prediction for 2027 is bullish, with the maximum price estimated at $7.83 and an average price of $6.76. The minimum price may be around $20.54, with a high of $50.01 predicted for 2032.
Polygon Labs, zkSync, and Scroll ZKP held a competition to develop the best zero-knowledge Ethereum Virtual Machine in July 2022. The project received $1 billion in funding and was subjected to two external audits and an internal audit involving 26 researchers. The Polygon zkEVM was finally launched on March 27, 2023. While the MATIC price did not show an immediate boost, the launch had positive long-term effects. The market experts on Youtube have predicted that the Polygon (MATIC) price will reach an all-time high by the end of 2023.
The reason for their prediction is that Polygon's zkEVM technology has created many opportunities for developers and entrepreneurs to interact with Ethereum protocols without trust issues securely. @Louround_ and @expctchaos have elaborated on these benefits. They believe that the scalability offered by zk rollups is the most exciting aspect of this technology. With zk rollups, theoretically, thousands of transactions per second can be processed.
The zkEVM is highly notable for its security, in addition to its scalability. Unlike other L1 blockchains, it doesn't have its own validation set. Instead, it shares its security with the Ethereum base layer through the mathematical proofs that roll-ups post on L1, which can be verified.
A market analyst on YouTube called Coininsider has recently discussed how Polygon, also known as MATIC, has the potential to become one of the top 3 coins by the year 2023. The analyst based this prediction on the momentum shown by MATIC during the zkEVM launch. The 200-day Exponential Moving Average (EMA) is pointing downwards for MATIC. The key support at $1.04 must be held to avoid a fall toward $0.96. On the upside, the area at $1.25 is crucial. If flipped as support, the coin opens up for gains towards $1.37 (previous high) and then all-time highs at $1.74.The long-term prospect of Polygon (MATIC) is extremely promising due to the potential of zkEVM and its continuous development in the ecosystem.
Given all these factors, market experts are projecting that the price of Polygon will hit an all-time high by the end of 2023. They believe it could be a top 3 coin, and its technology could be used in various sectors. With the increasing demand for privacy and anonymity, Polygon is well-positioned to become a leader in the field.
According to Polygon's plan, all Matic coins will have been released by December 2022, which is good news for long-term investors because it guarantees significant future gains.
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Since its inception in 2017, Matic tokens have had an incredible run that has withstood the test of unforgiving crypto market turmoil that usually ends up wiping out invalid tokens.
Despite the prevailing bearish trend currently experienced in the crypto market, experts are convinced by Matic's crypto price prognosis and price forecast data that indicate an overall bullish trend for the long-term investment horizon.
Based on Coingecko's data, Polygon has recorded impressive gains since its launch back in 2017. The crypto token has recorded incredible gains of up to 44157.6%, and the rally is expected to continue in the following years.
Matic recorded its all-time low price of $0.003143 in May 2019 during the famous bearish run. However, since then, the coin has continued to make significant gains until May 2021, when it recorded a new all-time high price of $2.62. It seems then that May is the month of Polygon, after all.
Polygon's price has been on the rise since it hit a high of $1 at the end of July, and experts are predicting that as Polygon's network continues to grow with new partnerships and adoption, the value of its token could go even higher. In August, Polygon's price hovered around the $0.80 mark, but many believe that this is just the beginning of this promising project.
Recently, in November, Polygon saw a significant surge after the bullish news that the social media giant Meta is teaming up with the blockchain to deliver its journey into the world of Web3 and NFTs.
Stephane Kasriel, head of commerce and financial technologies at Meta, revealed that Instagram businesses will soon be able to create and sell their own NFTs (non-fungible tokens). This service would first launch on the Polygon blockchain before expanding to others, including Solana. MATIC rocketed after this news and hit a high of $1.29 on 7 November. After peaking and later announcing multiple partnerships, including an NFT marketplace deal with Nike, MATIC eventually fell below the $1 barrier.
Just this past year, Polygon (@0xPolygon) has rolled out some incredible features on Twitter. From the launch of a new Token List service to mobile burning capabilities for MATIC tokens, they have allowed users to interact with MATIC in an efficient and secure manner. This means you can now access the MATIC burn console through your mobile wallet with a simplified interface that is easy to use.
Breaking: In a recent press release, Zeeve, a leading web3.0 Infrastructure-as-a-Service (IaaS) provider, announced its collaboration with Polygon Labs. The partnership will see Zeeve function as an infrastructure provider and implementation partner for Polygon supernets, aiming to streamline the deployment and management of app-chains on the platform. The collaboration is set to benefit businesses and developers, enabling them to launch their own blockchains with essential infrastructure components such as explorers, wallets, faucets, and more.
Moreover: Polygon has revealed its strategic partnership with the West African nation of Niger, aimed at fostering growth in the region's blockchain sector. When you're setting up for wins in 2023, better be in the best position when it happens.
Reiteration: In November's Polygon price prediction, we reiterated, MATIC's bull run is long overdue. Even Fed Reserve Chair Jerome Powell believes bullish prices are transitory, so better be there when that happens. for MATIC. This is not investment advice, but intelligent information.
A study of the most recent price movement reveals that the coin is positioned for tremendous growth and might be an attractive investment opportunity for active and strategic investors.
From Singapore: J.P Morgan Chase, the world's most extensive bank, completed its first "LIVE" trade-in DeFi by working with the Monetary Authority of Singapore-all thanks to Polygon. This is evidently a groundbreaking event that alludes to traditional finance institutions gradually adapting Web3 technology. Why not? Successive developments of the Polygon network have firmly set its upward direction.
Customers can now convert fiat currency to cryptocurrency and deposit the new currency in their Polygon or Solana wallet. Coinbase is adding MATIC and SOL to their listings, which are the native currencies of Polygon and Solana. With this Polygon price prediction, there's a high chance you might become interested in the coin as an addition to your portfolio. This was already highlighted last month by Forbes in November.
MATIC, the native token to Polygon, is today's top performer according to the. MATIC is trading at 69 cents, up 20% over the last day, at its highest level in a month.
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon's scaling solutions have widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
Mina Protocol and Polygon are working towards implementing support for Mina on Polygon PoS. This bridge will enable developers building applications on Polygon to leverage privacy and verifiability via Mina's zero knowledge-SNARK-based protocol.
Ethereum-based Polygon hopes to solve fundamental issues the Ethereum blockchain faces, such as interoperability and scalability. It is the first project on the Ethereum blockchain to launch an adequately structured tool that addresses the Ethereum scaling problem. Consequently, many have termed Polygon as an Ethereum scaling solution.
Rather than running on its own blockchain, MATIC tokens are traded on the Ethereum blockchain. That's because Polygon was developed to help scale Ethereum through side chains. MATIC allows you to stake on the Ethereum blockchain and pay for currency transactions. This has helped reduce the high transaction costs inherent in the Ethereum blockchain, helping promote widespread adoption.
Another thing, Ethereum is home to several DeFi projects like the Polygon, formerly known as the Matic network. Since the Matic network has brought numerous functionalities to the entire Ethereum blockchain, several developers have taken an interest in the project, which has, in turn, led to steady growth of Matic price.
Major cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc., witnessed a slump on the 1st week of June, and yet, the value of Polygon(MATIC) rose nearly 35% in the same period. Investors saw Polygon (MATIC) as the next big thing, and in a short period, it surged past other cryptos to rank among the top 15 biggest cryptos globally. Polygon successfully converts the limited Ethereum blockchain into an open blockchain network usable by many. In essence, it makes Ethereum steady as the internet of blockchains.
In turn, Polygon (Matic) project benefits immensely from the already-established Ethereum blockchain in several ways. Firstly, every blockchain project needs a secure security infrastructure; the Matic network benefits from Ethereum's array of qualities, such as an active and vibrant community, established security systems, and transparency.
Within the Polygon network, transactions are settled using the Matic coin. Matic price has risen over the years, sparking interest from cryptocurrency enthusiasts. Polygon technology has improved efficiency within the Ethereum blockchain. Today, Polygon boasts of handling up to 65,000 transactions per second on its single sidechain. Similarly, it has averaged an impressive block confirmation time of two seconds per transaction.
Polygon, formerly Matic network, has been considered a stable investment by crypto enthusiasts. Anyone interested in Ethereum and its bundle of projects likely has an affinity for Matic.
It is a well-structured organization with clear goals of extending the scalability of the Ethereum blockchain and making cryptocurrency more accessible to the public. If the project continues to push forward strides, its success is inevitable, and consequently, Matic holders will benefit significantly.
Investing is a full-time activity that requires individuals to analyze potential risks and returns before committing. However, within the crypto world, numerous uncertainties shape the prices of crypto coins. Therefore, even for a seasoned professional, it is challenging to make precise predictions on the price of a coin based on historical price actions alone.
However, for an individual to earn impressive returns on their investments, they must take risks. Here, we'll discuss some of the benefits of investing in the Polygon ecosystem.
Since Matic is a scaling solution on the Ethereum blockchain, it is difficult to foresee its downfall. Therefore, most forecasts are convinced that Polygon will be in existence for years to come. So what are some of the pros of investing in this token?
It is indeed public knowledge that investments always come with a degree of risk. Investing in Matic may result in losses if careful considerations of the involved risks aren't well conducted. Below are some possible shortcomings of investment in Matic.
The recent 20% spike in Polygon's price was driven by JPMorgan's first DeFi transaction using the Polygon blockchain. Because of its cheap transaction fees, global investment banking giant JPMorgan carried out its first DeFi transaction on the Polygon blockchain in the first week of November.
The transaction was a part of MAS's (Monetary Authority of Singapore) Project Guardian pilot program to test the use cases for asset tokenization and DeFi. Instagram will also allow users to create and trade NFTs using MATIC.
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Although Polygon has recently made numerous updates and improvements, its native token MATIC saw a 50% decrease in price last year. It had opened the year at $2.5 but is now trading around $1.1-$1.2 towards the end of the first quarter of 2023.
Despite the short-term volatility, Polygon's investors remain confident that it can reach double digits in no time. For instance, Lark Davis (@TheCryptoLark) confidently tweeted about his MATIC holdings expecting it to hit $10 soon.
Polygon has been actively forging relationships with various companies in the crypto space and staying abreast of current blockchain technology trends. Here are some recent updates, as announced by Polygon:
With partnerships and increased adoption, MATIC prices are expected to continue to surge. If investors and traders can take advantage of these bullish signs, they could enjoy significant profits. However, it is important to keep in mind that the cryptocurrency space is highly volatile and risky so always do your own research before investing.
There are many factors influencing the future of MATIC coin, from global economic conditions to the level of adoption of cryptocurrencies. The partnership with Meta and the latest breakout on the platform appear to be positive indicators for the coin's future price, according to predictions from algorithm-based forecasting sites.
Overall, scaling solutions like Polygon are expected to gain momentum as network congestion on the Ethereum blockchain remains an issue. Polygon's multi-layer technology allows it to authenticate transactions in a matter of seconds while still uploading them to the Ethereum blockchain, combining scalability and security.
Polygon's powerful Dapp architecture makes it simple to build new apps on-chain and port current Ethereum projects. However, MATIC is projected to continue dipping by a few cents before beginning another price increase in the near future. Before making any investment decisions, do your own research.