Can Polygon Matic Reach $50, $10?

Can Polygon Matic reach $50, $10? Read here for a detailed analysis

Polygon Matic Performance Statistics

Gaming: 5 Apps in the Top 25 (Matic Ranked after Ethereum, Near, Wax, and Flow)
Payments (Bitpay only): 4.16% share (Ranked 7th)
Transactions: 3,231 M

TVL: $859.2M (Rising)
Last 7 days: +6.2%
Last 30 days: +10.5%

Sales (30 Days): $27.1M
Last 7 days change: -1.5%
Last 1-month change: -33.1%

Polygon Matic News

Coinbase International Exchange has announced the upcoming launch of perpetual futures contracts for Polygon (MATIC) and Bitcoin Cash (BCH) on Coinbase International Exchange and Coinbase Advanced. Users can commence trading MATIC-PERP and BCH-PERP contracts from December 7, expanding the exchange’s perpetual contracts offerings.

Polygon Matic – Buy or Sell Poll

Net Buy % = Buy% – Sell%

Nov 13th:+43.4%
Nov 22nd: +46.5%
Nov 28th: +47.8%
Dec 5th: +48.1%

Can Polygon Matic Reach $50?

Polygon Matic will need to rise by 66 times to reach $50. At $50 Matic’s Market Cap will be $462 Billion. If Matic were to rise at the rate of 25% every year, it would reach $50 in 18 years.

Look at the data available with us, here is the evaluation

Quality of Investment – Good
Growth required to reach $50 – High
Market Cap @$50 – High
Time to reach $50 if growth is 25% – High

Overall, it does not look like Matic can reach $50 despite being a good quality investment. Polygon will have to burn 50-75% of the coins to make this possible.

Will MATIC reach $10?

Polygon needs to grow by 13 times to reach a price level of $10.

Also, MATIC’s all-time high price is $2.8 which it achieved in December 2021. Note that MATIC’s price grew by nearly 3.63 times in five months to reach its all-time high value (i.e., from the lowest price of $0.77 in July 2021).

Therefore, considering Polygon’s 0.73 times growth in one month, we can say that it needs around 12.6 months (slightly more than 1 year) to reach $10.

Though economic factors will also play a crucial role in the determination of MATIC’s price, reaching $10 is not a difficult target for MATIC.

Can Polygon reach $5?

Polygon Matic will need to rise by 6.6 times to reach $5. At $5 Matic’s Market Cap will be $46 Billion. If Matic were to rise at the rate of 25% every year, it would reach $5 in 8 years.

Look at the data available with us, here is the evaluation

Quality of Investment – Good
Growth required to reach $50 – Moderate
Market Cap @$50 – High
Time to reach $5 if growth is 25% – Moderate

Overall, Matic can easily reach $5 over the next few years.

Polygon (MATIC) could reach $5 due to the blockchain’s partnerships with big brands like Coca-Cola, Disney, Meta, JP Morgan, and Starbucks, as well as the fast and inexpensive transactions it offers. The blockchain also has a supply and demand advantage, with a total supply limit of 10 billion MATIC coins, and nearly 9 billion in circulation. Additionally, the burning mechanism proposed by developers could incentivize investors to use the network and acquire the asset, leading to an increase in price.

Can Polygon Matic Reach $50, $10: Conclusion

With the development of blockchain technology, cryptocurrency is now no longer just about the token but the development of the ecosystem. Polygon in this field has become one of the most important players. Instead of competing against Ethereum, Polygon is placing itself on a blockchain to fill the void that ETH or the rest of the blockchains have created.

Polygon has a higher chance of reaching both $3 and $5. Polygon’s all-time high was close to $3, therefore, reaching $3 and $5 will not be a big problem for Matic. However, the current market condition may not be favorable for Polygon to reach $5 or even $3 this year.

Can Polygon Matic Reach $50: What is Polygon?

Polygon MATIC is a layer 2 blockchain that is a solution for Ethereum’s Scaling, Speed, and Transaction Fee issues. Polygon’s fix to these problems makes it a viable scaling solution for Ethereum.

It operates on the Proof of Stake mechanism which uses far less energy as compared to the Proof of Work mechanism. Polygon has also stated on its website that it is already carbon neutral. Polygon provides Security as a Service either through Ethereum’s blockchain or through Polygon’s own pool of professional validators.

Like the Ethereum blockchain, Polygon also provides widespread utility to the users. Polygon blockchain can be used in developing DeFi (AAVE), Metaverse (Decentraland), NFT(Opensea), and other blockchain dApps.

The advantages of using Polygon Blockchain are:

Funding: Polygon network is well funded. Recently it has raised fresh capital this year that gives the founders the flexibility to build Polygon into a profitable blockchain that drives Matic Token demand even higher.
Faster: Polygon has a capacity of processing 7,000 transactions per second which are leaps and bounds faster than the 15 TPS of Ethereum. Additionally, it is believed that despite the ETH 2.0 update MATIC will remain ahead due to constant developments and experimentation in the ecosystem.
Energy Consumption: Polygon operates on the Proof of Stake mechanism which uses far less energy as compared to the Proof of Work mechanism. Polygon has also stated in its website that it is already carbon neutral.
Security: Polygon provides Security as a Service either through Ethereum’s blockchain or through Polygon’s own pool of professional validators.
GAS Fees: It is stated by the co-founder of ETH that despite the new ETH2.0 the GAS fees will not be decreasing. Here, MATIC takes the lead, since it has placed its transaction fees in the range of $0.0005 to $0.2 which is minuscule compared to ETH’s $12. Polygon has saved more than $140 M in GAS fees till now.
Varieties of Scaling Solutions: Polygon has 3 live scaling solutions, 3 under development, and 1 in beta testing which clearly means that Polygon is preparing itself for ETH 2.0.

Some of the biggest projects running on Polygon Blockchain are:

JellySwap
QuickSwap
Opacity
Mai Finance
Impermax
gTrade
Augur
IDEX
Aavegotchi

Overall, Polygon Matic is a Good Investment

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Stocks. Please consult a registered investment advisor to guide you on your financial decisions.