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As a Layer-2 scaling solution, Polygon crypto has been developed to increase the mass adoption of Ethereum. In addition to being a green project, Polygon aims to support developers and enable them to build scalable decentralised applications (dApps). Polygon platform has performance, user experience, and security as its priority.
Polygon crypto has aimed to overcome the limitations that the Ethereum blockchain imposes on users despite its significant advantages. The main problems in the Ethereum blockchain are low throughput, poor user experience, and lack of sovereignty. Ethereum-compatible blockchains try to solve these problems, but still, there’s a lack of a comprehensive framework to build these blockchains on and a framework to connect these blockchains. This is where Polygon sweeps in!
Simply put, Polygon crypto primary aims to be a protocol to make Ethereum-compatible blockchains and connect them.
Polygon crypto started its journey with high hopes and great aims, and the following are among the top features Polygon offers its users.
Polygon crypto provides the projects with the latest tools to go decentralised. To put it in simple terms, Polygon creates a specialised blockchain, combining the characteristics of Ethereum and other top blockchains, i.e., sovereignty, flexibility, scalability, interoperability, security, and user experience. The good thing about these specialised blockchains is that they’re independent but are connected and can exchange messages and use all the Ethereum tools like Metamask, MyCrypto, etc.
Polygon crypto removes the main obstacles for the developers to build dApps. The main problems are gas fees, speed, and security. In addition to solving these issues, Polygon is entirely compatible with Ethereum. Using the Polygon platform, the developers can use
Also, Polygon offers a step-to-step guide for young developers to learn how to build dApps, and learn all about Web3 using the Polygon Academy.
MATIC, the native token of the Polygon network, is mainly used for governance and security purposes through staking. MATIC is used in Polygon apps as the currency users need to interact with dApps in the ecosystem.
Not only inside the Polygon, but the Polygon chains need MATIC to pay the gas fee. Polygon utilises a Proof-of-Stake (PoS) consensus mechanism, i.e., it uses staked Matic tokens to reach consensus on the network. The network users can simply stake MATIC to secure the Polygon network and earn staking rewards.
Polygon crypto token, MATIC, is currently traded at $0.825956. Its 24-hour trading volume is around $194,234,151 today, on Sep 18, 2022. The price of MATIC has been up by 1.7% in the previous 24 hours. Its circulating supply is 7.4 Billion MATIC coins, with a total supply of 10 Billion. Today, MATIC’s price is 71.7% lower than its All-Time high of $2.92 on Dec 27, 2021. But, it is 26127.1% higher than its All-Time low of $0.00314376 on May 10, 2019. Currently, FTX.US is one of the active exchanges to trade MATIC.
Despite Polygon's good market cap ranking and general performance, its Return on Investment (ROI) has been -42% in the recent year, meaning that your $100 investment in MATIC a year ago would result in losing $42.
Standing on the market cap rank #15 among all the crypto projects, Polygon crypto has a circulating supply of 74%. The circulating supply can be calculated by dividing the market cap by the coin price - generally, the more coins in circulation, the lower the coin’s value. If the supply is high and demand is low, prices will decrease. MATIC token’s liquidity score is 71%, which is higher than the market’s average, making MATIC a relatively easy sell in the bear market. Check out the Polygon crypto price and market cap in the following chart retrieved from Cryptologi.st.
Analysing Polygon’s performance on Github indicates that currently, there are 301 forks made up of Polygon crypto, and it has 574 stars, meaning that many users have it on their watch and are monitoring its changes.
As part of its community generation system, Polygon crypto holds various crypto events all year long to add to the knowledge of the community members, attract new ones, and provide an opportunity for crypto enthusiasts to meet up and get to know the more experienced players of the crypto world. To see a list of Polygon crypto events, check this out.
With its native token MATIC, Polygon crypto has been in the market for quite some time and therefore has gained worthy investors. Of course, not just by surviving, but because of providing services and adequate support. To name but a few of Polygon investors, we can mention Mark Cuban, MiH Ventures, ZBS CAPITAL, High Naut Capital, and Coinbase Ventures.
As mentioned above, the Polygon crypto token (MATIC) follows the PoS consensus mechanism, and as it is not a Proof-of-Work (PoW) token, it cannot be mined. Instead, you can join the Matic network and set up a validator node to collect transaction verification rewards.
Crypto investors always look for ways to predict the price of their favourite coins and tokens to see if they are lucrative investments. Although not facts to rely solely upon, Polygon crypto price prediction in the following sections can help you have a general picture of the future of MATIC.
Crypto experts predict that MATIC can end the year 2022 with an average trading price of $0.82. Its minimum and maximum prices may revolve around $0.80 and $0.92, respectively.
Currently, the Polygon crypto price range might interest many traders; therefore, the experts expect MATIC to reach $1.22 on average by 2023. Its highest level is predicted to hit $1.37.
MATIC is anticipated to hit a maximum price of $2.05 by the end of 2024. On average, each MATIC can be traded at around $1.81 to $1.86.
Crypto experts claim that if Polygon crypto can attract more investors, there is a chance that the average price of each MATIC token will rise to about $2.70 by 2025. The year 2025 can end with a maximum and minimum price of $3.14 and $2.60, respectively.
Experts expect the year 2030 to be when Polygon crypto price will skyrocket, with a maximum price of $21.12. Its average price level may revolve around $18.16.
Crypto can come with sweet gains that change your whole life for the better. However, hundreds of traders have lost their money and life in this volatile market! Is Polygon crypto a good investment? Well, ‘good’ means differently from person to person! To find the best answer to this question, you need to weigh your options, be realistic about your financial situation and target, and analyse the projects like a pro. To know how, let’s read the following section.
To help you in this risky process and streamline decision-making, Cryptologi.st has provided some tools. First, you need to learn about the best risk management strategy; then, you can use this free screening tool to evaluate the projects you choose and put them on your watchlist to monitor their changes. Yes, you need to spend some time to get to learn how to surf in unknown waters! But to save countless hours looking for the best sources to access detailed analyses of the top 1500 projects and the hottest trends in the crypto market, keep an eye on Cryptologi.st news section.