Have you been thinking tirelessly about the possibility of investing in Polygon’s MATIC? Well, you should know that Polygon is not only one of the most popular layer 2 scaling solutions in the market. Its novel token, MATIC, is the 16th largest digital asset globally.
This article takes an in-depth look into Polygon, its core areas of business - and most importantly for prospective investors - the pros and cons which can help answer the question: Should You Buy Polygon’s MATIC?
Polygon (MATIC) is one of the most popular DeFi coins in the saturated market of cryptocurrencies. MATIC has returned more than 13,000% year-to-date (YTD) for investors who believed in the digital asset on 1st January 2021. Just like AAVE, YFI, COMP, and UNI, MATIC plays a primary role as a governance token that can be used for staking as well as managing all the transactions on its issuing authority, Polygon.
MATIC is among the highly volatile cryptocurrencies. This is the primary reason why growth investors, day traders, cryptocurrency traders, and decentralized finance (DeFi) enthusiasts could benefit greatly from having the digital asset in their portfolio of investments.
With the top 10 DeFi applications on the Polygon Network attracting more than 242,000 active wallets which are relatively higher than the 100,000 active wallets on Ethereum in May, is Polygon (MATIC) a good investment? With more partnerships being formed that have seen more decentralized applications integrate with Polygon, is MATIC a good investment in 2021? Right from the onset of the project, Polygon had the backing of Coinbase and Binance, is Polygon (MATIC) a good crypto to buy in 2021? After MATIC surpassed $1, several traders and investors expect the cryptocurrency to reach new highs. Will Polygon (MATIC) reach 10 dollars?
Most importantly, for novice traders and investors - what are the pros and cons which can help answer the questions: what is the future of MATIC coin and should you buy MATIC?
- Polygon at a Glance
- The PROS of Buying Polygon’s MATIC
- The Cons of Buying Polygon’s MATIC
- Where Can I Buy MATIC / How To Invest in MATIC?
- MATIC Price Prediction: What Are the Analysts Saying About Polygon’s Crypto?
- The Bottom Line - Should You Buy Polygon’s MATIC?
Polygon at a Glance
In this section, we will have an overview of the beginnings of the crypto project. In simple terms, what is Polygon, the history of Polygon, how many Polygon MATIC are there, and the price performance of MATIC from 2019 to date?
The History of Polygon
Polygon started as the MATIC Network in October 2017. After Ethereum’s success with Ether as a cryptocurrency that can also power decentralized applications made possible by the triggering of smart contracts, blockchain developers Jaynti Kanani and Sandeep Naiiwal took notice and decided to act. Ethereum was not the sole blockchain technology that was having problems. Deloitte made it known that the primary factor affecting the mainstream adoption of blockchain was scalability.
The two developers were joined by a non-programmer Anurag Arjun who brought his business-savvy skills to the table. After seeing decentralized applications scale relatively slower, the founders realized Ethereum is the first-mover of smart contracts but it has several limitations. Among the limitations are low throughput, poor UX (delayed proof-of-work finality and gas), and no sovereignty in the form of governance dependence, a tech stack that is not customizable, and a shared throughput/clogging risk.
At the time, the MATIC network found solutions that would provide an interoperability protocol for exchanging arbitrary messages with Ethereum and other blockchain networks, modular and option “security as a service”, growing set of modules for developing custom networks, one-click deployment of preset blockchain networks, and adaptor modules for enabling interoperability for existing blockchain networks.
On Tuesday, 9th February 2021, the MATIC Network rebranded itself as Polygon and continues to use its solutions to scale DAPPS and other blockchains relatively faster than the throughputs they were earlier on used to.
What is Polygon?
According to its official website, Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It also helps aggregate scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem. To help you understand what Polygon is, consider the Graphics of a computer.
When the Graphics of a personal computer is low, playing certain video games becomes extremely difficult and this slows the gameplay. Installing the same video game on a personal computer with high Graphics enables the game to run relatively faster than what you were used to.
That is what Polygon does. Ethereum scales transactions slowly. When developers deploy their decentralized applications on Polygon, it provides them with a relatively faster processing speed that is lacking on Ethereum.
Polygon goes by the ticker symbol MATIC. MATIC is the symbol associated with Polygon across the cryptocurrency exchanges globally.
What Is The Purpose Of Polygon?
Polygon was purposely built for the scaling of Ethereum DAPPS and other sovereign blockchains. This is done by features such as ETH Compatibility, Scalability, Security, Sovereignty, Interoperability, User Experience, Developer Experience, and Modularity. To put it simply, Polygon increases the processing speeds of all applications and blockchains that are deployed on its network.
How Many Polygons Are There?
As of the time of writing, 6,300,000,000 MATIC coins are circulating in the market from a total and maximum supply of 10,000,000,000 MATIC coins. This means that 63% of the coins have been mined, leaving 37% up for grabs.
MATIC Price Performance 2019
As per data retrieved from CoinMarketCap, Polygon’s MATIC appeared on cryptocurrency exchanges on 28th April 2019. MATIC opened at $0.004521, reached an intraday high of $0.004545, hit a day low of $0.004317, and finally settled at $0.004421.
On its opening day of trading, MATIC saw an impressive interest from investors which reflected in its trading volume of $8,408,136. Since that day, MATIC has experienced bullish days where the cryptocurrency reached new highs and bearish seasons where the digital asset tested new lows.
MATIC closed on 30th April 2019 at $0.004478 with an increased trading volume of $25,072,706. The novel token powering the Polygon Network opened at $0.02 on 1st June 2019 and closed the month with a trading price of $0.2.
After the new high lows suffered by Bitcoin in 2018, the year 2019 was billed as a year of recovery for cryptocurrencies. MATIC ended the 3rd quarter of the year on 30th September 2019 by trading in the range of $0.01 and $0.02 with decreasing trading volumes. MATIC reached a new all-time high of $0.03 on 28th November 2019. With the increasing trading volume that crossed $100 million on 6th December 2019, MATIC tested a new high of $0.04 on 5th December and finally settled at $0.01 on 31st December 2019. In the process, MATIC returned as much as 121.19% for investors who purchased the digital asset on its opening day.
MATIC Price Performance 2020
After the 1930s recession and stock market crash of 1987, the financial crisis of 2008 was the last major crash the global economic world had seen in 12 years. This changed when the coronavirus pandemic of 2020 took hold of every aspect of humanity including the financial markets.
This led MATIC and other altcoins following Bitcoin (BTC) to plunge to new all-time lows. New cryptocurrencies that did not have a strong base headed for extinction and numerous analysts feared the worst for MATIC. Fortunately, the digital asset survived and helped maintain the investments of long-term holders.
MATIC opened on 1st January 2020 at $0.01, reached an intraday high of $0.02, tested a low of $0.01, and closed the day with a trading price of $0.01. The native assets of Polygon ended January at $0.02. Based on the need to find digital assets with a huge potential in the market, numerous traders and investors poured liquidity into Polygon’s crypto with an eye on raking in returns in the long term. MATIC opened at $0.02 on 1st March, retested $0.03 on 8th March, and started to plunge during the peak periods of the pandemic. With millions of people selling their holdings, MATIC plunged to a new high low of $0.007011 on 13th March. The crypto-token picked up the pieces and closed the 1st quarter of 2020 on 31st March at $0.01.
Polygon’s coin opened at $0.01 and continued to trade in the range of $0.01 and $0.03 through May, June, July, August, and September. MATIC declined from $0.03 back to $0.01 at the end of 2020. There was no significant change in the opening and closing day prices of MATIC. This means that 2020 was a year of survival for MATIC. Once it was able to weather the selling pressure and extinction of other altcoins, MATIC was destined for greater things with an eye on 2021 and the long term.
MATIC Price Performance 2021
The year 2021 has been a great year for mainstream cryptocurrencies as well as decentralized finance (DeFi) and their crypto trading tokens. With the distribution of two stimulus checks in April and December 2020, the market has begun to see a new wave of traders and investors pouring billions of dollars into digital assets.
They are UNSOPHISTICATED. This means that instead of relying on fundamental and technical analysis-backed investment decisions, they rely on speculation and social media feeds to guide their actions. This has seen a spike in the prices of all cryptocurrencies. Aside from them, there have been huge institutional investments made by Mutual Funds, Hedge Funds, Tesla, and the largest digital asset management firm GRAYSCALE.
It has not been all bullish as dips are unavoidable in the high volatility asset class of cryptocurrencies. This has also led to a plummet in the price of digital assets after more than half of them reached new all-time highs in May.
MATIC began 1st January at $0.02. With the daily trading volume increasing substantially throughout the month, the crypto token re-tested $0.03 and $0.04. MATIC soared to a new all-time high of $0.05 on 27th January. It eventually ended in January with a trading price of $0.04. In just 30 days, MATIC doubled the investment of holders.
Bitcoin (BTC) crossed $40,000 for the first time in February and other altcoins such as Ether (ETH), Binance Coin (BNB), and Polygon’s MATIC followed. After opening at the price it left off in February, the novel token powering Polygon crossed $0.06, $0.07, and $0.08 for the first time on 5th, 7th, and 8th February. On 9th February, MATIC was worth more than 10 cents for the first time in its crypto trading history. MATIC ended February by testing an intraday high of $0.23 and finally settled at $0.23. In February, MATIC returned an impressive 475% for traders and investors.
The biggest announcement came in March when Elon Musk announced Tesla will be integrated as an option of payment. This sparked a boom in the price of BTC towards the end of March and the month of April. Altcoins benefitted indirectly from BTCs rally to new all-time highs.
On Monday, 1st March 2021, MATIC opened at $0.23 and began to cross several price milestones. MATIC crossed $0.30 on Tuesday, 9th March and was worth half a dollar on 11th March. This rally led several long-term holders to let go of their holdings. MATIC strived hard to resist selling pressure. On the last day of March, MATIC closed at $0.36. This meant the crypto trading asset returned as much as 56.5217% for investors.
In April, MATIC showed signs it could be worth $1. After opening at $0.36, the cryptocurrency was worth $0.41 on 15th April. The novel token that can be used for governance and also settles transactions on Polygon reached new all-time highs of $0.84 (27th April), $0.89 (28th April), $0.92 (29th April), and $0.94 on Friday, 30th April. With a boom in the interest of decentralized finance which led several developers to deploy their applications on Polygon, MATIC returned 161.111% for investors.
Polygon’s MATIC spiked in price in May due to the increased exposure it gained from being listed on the top cryptocurrency exchanges globally. MATIC opened at $0.82 on Saturday, 1st May and touched $1 for the first time on Sunday, 9th May finally settling at a new all-time high of $1.05. With daily trading volumes reaching more than $1 billion, MATIC reached an all-time high of $2.68 on Tuesday, 18th May. With trading volumes at an all-time high of $9 billion on 24th May, MATIC closed on 31st May at $1.88 based on crackdowns on digital currencies.
June was not kind to MATIC as it traded for less than 50% of its all-time high. MATIC opened at $1.87 on 1st June and settled at $1.10 at the end of the month.
Several analysts believe MATIC could reach new milestones by the end of 2021 and beyond. What are the drivers behind such predictions? To put it simply, what are the pros and cons of investing in Polygon’s MATIC that makes it a good investment?
The PROS of Buying Polygon’s MATIC
What Are the Benefits of Investing in Polygon’s MATIC?
The price patterns of MATIC put the cryptocurrency in a situation where it’s heading for an Uptrend. An uptrend is where a cryptocurrency hits new high lows like MATIC has and gains momentum from increased interest from novice and experienced traders and investors to reach new high highs. But what are the pros of investing in MATIC that can certify MATIC as a financial instrument worth your hard-earned money?
✅ MATIC is Very Affordable
Affordability is an essential part of investing in MATIC and other cryptocurrencies. As of 2 p.m. ET on Thursday, 1st July 2021, MATIC has a trading price of $1.10. At such a price, the digital asset falls into the budget of millions of people. Buying 1000 MATIC will cost $1,100. A $1,000 investment is in the range of small-time investors. The same cannot be said for cryptocurrencies such as Bitcoin (BTC) which is trading below $40,000 and Ether (ETH) that commands a price of more than $2,000.
The cost of 1 ETH can afford you 1,818.18 MATIC while the cost of 1 BTC can get you 29,411.76 MATIC. For growth investors, especially, who look forward to seeing a growth in Polygon as the issuing authority which can have a reflection in its native asset, MATIC, the crypto trading asset can result in enormous gains from a little sum of money. With its price, MATIC provides a great vehicle for you as an untested investor who is afraid of making huge losses on an investment in BTC or ETH.
With the continuation of the Polygon Team to form partnerships with other financial technology companies, MATIC will continue to see activity since it will be used on the Polygon network to settle transactions. Polygon will continue to record great volumes on its platform. This will transform the liquidity being poured into the asset through its network to positively reflect in the valuation of the cryptocurrency.
✅ MATIC is Very Accessible
Do you know any trader or investor who wants to struggle before they can find a digital asset to buy? One of the most trending questions online is, where can I buy Polygon crypto, where can I buy MATIC? MATIC has been listed on popular cryptocurrency exchanges. But does having a digital currency listed on a top exchange guarantee its success? No, it does not.
But it does expose the crypto trading asset to millions of people who can act on the asset without having to hop from one exchange to the other. You must know that one of the primary drivers of the price of a cryptocurrency is its exchange listings. Polygon’s MATIC is listed on the largest cryptocurrency exchange in the world called Binance. Although Binance has been hit by the Financial Conduct Authority (FCA) of the United Kingdom, it continues to rake in billions of dollars in volume daily. Other exchanges that list MATIC include but are not limited to eToro, OKEx, Huobi Global, Coinbase Exchange, and CoinTiger.
In a fresh report released by Statista on Friday, 25th June 2021, Raynor de Best pointed out the 100 biggest cryptocurrency exchanges in the world based on a 24-hour volume. Binance topped the charts with $17.3 billion. Huobi Global finished in 5th place with $4.27 billion. OKEx was deployed on Polygon in June 2021 to help the exchange scale relatively faster. It finished in 6th place by recording $3.95 billion.
Coinbase, with more than 50 million users, finished in 14th place with $2.14 billion in trading volume. Coin Tiger recorded $350 million. With more than 200 million users across these exchanges, this explains the huge trading volumes the cryptocurrency has been experiencing. With more partnerships to come in the future after eToro listed MATIC in June, the digital asset will continue to reach new sets of traders and investors. This will contribute enormously to the future valuation of its price.
✅ MATIC Continues to Record Impressive Trading Volume
You should know that trading volume is one of the essential factors in fundamental and technical analysis. The trading volume shows the kind of activity a cryptocurrency is experiencing over a given period.
Once a particular cryptocurrency’s trading volume continues to see increasing declines, this is a sign that investors have lost hope in the future price patterns of that asset. Instead, they may have found a cryptocurrency that has great potential in the market due to the uniqueness of its issuing authority or through speculation. To give you an extensive insight into the importance of trading volume, let us consider the daily volumes of MATIC when it was trading below $1 and after it started trading above $1.
MATIC opened on 28th April 2019 with a trading volume of $8,408,136 and had a price of $0.004521. With increasing volumes that saw MATIC record $74 million on 13th May 2019, activity reflected positively in price to see the digital asset close the day at $0.008667. With a trading volume of $168 million, MATIC traded for a coin at $0.01 by the close of 18th May 2019. On 20th May 2019, the novel token powering Polygon recorded a volume of $396 million and that was followed by $698 million on 21st May 2019. MATIC increased from $0.01 to $0.03. Once volume started to go down in September when $5 million was being recorded, MATIC moved back to $0.01. MATIC reached its all-time high of $2.68 on 18th May 2021. On that day, the trading volume of MATIC was $8 billion.
At the time of writing, MATIC was trading for a coin at $1.10 and its trading volume was $658.83 million.
From the statistics provided, we can conclude that when trading volume rises, the price of MATIC responds by also increasing. On the other hand, when the trading volume started declining, the price of MATIC responded by decreasing. This is the primary reason why MATIC is poised to increase in price. Because in the last 30 days (1st to 30th June 2021), the minimum trading volume MATIC has recorded is $700 million.
As per reserve risk analysis, when there is investor confidence in an asset that is reflected in trading volume, the asset is considered an attractive investment. Since MATIC continues to see relatively higher liquidity, it is highly reflective of an attractive financial instrument that can be included in the portfolio of novice and experienced traders and investors.
✅ MATIC Has a Finite Supply
According to CoinMarketCap, there are 6,300,000,000 MATIC circulating in the market. Fortunately, unlike other cryptocurrencies with an infinite supply, the team behind Polygon decided to gift MATIC an additional attribute aside from it being a governance token that can be used for staking and settling transactions on the network. MATIC can also be considered as a store of value. This is as a result of its total and maximum supply remaining the same. MATIC has been capped at 10,000,000,000. This means that 63% of the cryptocurrency has been mined. In the not-too-distant future, the remaining 37% of the digital asset can be taken off the market.
Once this happens, scarcity is going to set in. According to the basic laws of demand and supply, once a product or asset is low in supply but high in demand, the price of that particular asset tends to go up. This is because sellers auction off the price to the highest payer and that effectively rallies the price to new all-time highs. Parent crypto Bitcoin continues to enjoy its status as digital gold because of its attribute as a store of value in the eyes of traders and investors.
Scarcity is one of the factors that can lead to a price increment in MATIC. Keep your eyes on the circulating supply of MATIC, once it keeps going up, the price of the asset could increase substantially in the short and long term.
✅ Polygon Continues to Launch New Products and Partnerships
On Tuesday, 29th June 2021, decentralized lending platform Cream Finance announced it would be launching its money markets on Polygon. What exactly is Cream Finance? Cream Finance’s smart contract money markets allow its users to lend and borrow supported assets.
The primary purpose of this partnership is to see Cream Finance increase its processing speed, transaction costs, as well as access to additional markets for its users. Cream Finance and others such as Kyber Exchange chose Polygon because they wanted to find an Ethereum-compatible blockchain network. Although there are several layer 2 solutions out there that are compatible with the Ethereum blockchain, Polygon has the necessary features to help Cream Finance and the more than 400 decentralized applications (DAPPS) scale faster.
On 1st June 2021, it was announced via a blog that Ox has launched on the Polygon Network. The primary purpose of this partnership is to help Ox aggregate liquidity across all existing sources such as Cometh, QuickSwap, mStable, Dodo, Dfyn, Curve, and SushiSwap. What’s more, developers can use the documentation of Ox to start building on Polygon with the Ox API.
By employing the Ox API, decentralized finance developers can tap into decentralized exchange (DEX) liquidity in a fast, easy-to-use way that is reliable so that they can focus on designing their products. One essential factor you must notice is that since its launch, Ox has facilitated more than 1.5 million trades from nearly 300,000 unique traders.
Such trades represent over $27 billion and with its deployment on Polygon, the liquidity Ox provides it’s going to increase. With the statistics provided, Polygon (65,000 transactions per second)scales relatively faster than Ethereum (15 to 30), and Binance Smart Chain (50 to 70). This means 1000s of unique traders will be employing Ox on Polygon by using MATIC as a bridge token. This will positively impact the price of the digital asset.
On Monday, 28th June 2021, Polygon (MATIC) announced the launch of its latest development called AVAIL. As per the details of the project, it is a general-purpose, scalable data availability-focused blockchain targeted for standalone chains, sidechain, and off-chain scaling solutions. Polygon has been working on the project since 2020. The project is in the devnet stage and will offer increased scalability throughput to layer 2 solutions where Avail will be used as an off-chain data availability layer.
Polygon announced in the last days of June 2021 that Pickle Finance (a yield aggregator) has launched on its network. Pickle Finance has now expanded to the MATIC blockchain after operating solely on the Ethereum blockchain for a long time. How does this affect MATIC? Through this partnership, Polygon will be providing rewards of $12,500 in MATIC for the next eight (weeks) (July to the end of August) totaling $100,000. Since Pickle Finance is a yield aggregation platform, these rewards could go to MATIC liquidity providers. This means that the cryptocurrency will be seeing a huge influx of its usage as deposits in July and August 2021.
Polygon continues to form partnerships and if this continues, MATIC will only get better in price.
Don't Miss: Polygon Price Prediction for 2025 and 2030
The Cons of Buying Polygon’s MATIC
What Are The Pitfalls Of Investing In MATIC?
Despite the pros of investing in MATIC, you cannot rely on the drivers of the price of the cryptocurrency to finally settle on a decision. Although there are not many negatives associated with using Polygon or buying its novel token, we must consider the few pitfalls we found through our research. Let us take a look at the cons of investing in MATIC.
❌ High Market Capitalization / Total Value Locked Ratio
According to the experts, the market capitalization and total value locked of a cryptocurrency communicate a great deal of information. Normally, the ratio of the market cap and total value locked (TVL) must remain below 1.
As of the time of writing, the Market Cap/TVL ratio is 0.8126. This means that the market capitalization of $6,830,930,926 is bigger than the total value locked which stands at $8,474,319,455. This confirms that the value locked in the cryptocurrency is higher than the market value of the cryptocurrency.
With so much money being poured into the digital asset, in no time, the market value is going to surpass the total value. Once this happens, according to the experts, this is a sign of an overvaluation of the digital asset. In the long term, if the analysis comes through, there could be a huge leap in price only to see millions lose their investments after a huge selloff plunges the asset into new high lows that may take years to recover from.
❌ Competition Is Catching Up
There is competition in decentralized lending, insurance, yield aggregation, and exchange. In the same way, several developers have joined the layer 2 scaling solution space and this is gradually making the market saturated. With time, the number of users, deployments, and popularity Polygon enjoys may be taken away by other developers who would add more innovation to layer 2 solutions. This may not bode well for its crypto token MATIC. When this happens, thousands if not millions could find a new cryptocurrency that shows promise. MATIC may drop substantially as a result.
RISK ALERT! As an e-learning organization, we must continue to advise you about the risk associated with the trading and investing of MATIC and other cryptocurrencies. Do not send your money to addresses across social media feeds. Find a credible cryptocurrency exchange that will be able to hold your coins. More importantly, invest in MATIC and others with the amount of money you can afford to lose. Do not invest all your savings in crypto. You can spread your investments across crypto and less-volatile assets such as stocks, metals, and commodities.
Where Can I Buy MATIC / How To Invest in MATIC?
There are 100s of centralized and decentralized cryptocurrency exchanges. For safety and security purposes that will not see you fall victim to scammers, we would like to recommend eToro as the exchange that can provide a user-friendly, secure environment for you to go about your trading and investing activities.
The following steps provide essential details that will guide you to invest in MATIC.
- Step one is the SIGNING UP PROCESS. You cannot buy MATIC if you do not have an eToro account. Just like creating an account online, you have to provide details of your full name, email address, contact number, and residential address. Unlike any type of account creation, you must input legal and authentic details as it plays a key role in successfully verifying your account.
- Step two is to VERIFY YOUR ACCOUNT. The Knowing Your Customer (KYC) phase is highly essential as it helps confirm the humanity of the person behind the smartphone or personal computer. Your email address and phone number will be confirmed first.
- Step three is the DEPOSIT OF FUNDS. You must deposit funds into your eToro account before you can be able to buy MATIC. Choose from a range of options such as PayPal, Skrill, iDEAL, Rapid Transfer, Credit/Debit Cards, Neteller, Bank Transfer, and Klarna/Sofort Banking.
- Step four is to NAVIGATE to the MATIC PAGE. On this page, you can invest in MATIC with the amount of money set aside to risk on digital assets.
MATIC Price Prediction: What Are the Analysts Saying About Polygon’s Crypto?
Let us take a look at some of the forecasts made by analysts that answer questions such as, MATIC Price Prediction 2021, MATIC Price Prediction 2022, MATIC Price Prediction 2025, and What Will Polygon’s MATIC Be Worth by 2030?
Digital Coin Price predicts MATIC to command a price of $1.57 by the end of 2021. The experts further project the digital asset to reach $1.89 by the year’s end of 2022, $2.29 (2023), and $2.84 by the close of 2024 in the short term. In the long term, the technical analysis-backed portal foresees MATIC trade for a coin at $3.28 on the last day of 2025, $3.84 (2026), a new all-time high of $4.33 by the close of 2027, and $4.85 on 31st December 2028.
Gov. Capital estimates MATIC to trade for a coin at an average price of $4.189, the lowest possible price of $3.56065, and the best possible price of $4.81735 by the end of 2021. On 31st December 2022, the experts expect MATIC to have an average trading price of $8.427, the lowest possible price of $7.16295, and the best possible price of $9.69105. The crypto prediction believes MATIC could trade for the best possible prices of $15.502 (2023), $22.8206 (2024), $27.8185 (2025), and $31.68365 on 30th June 2026.
The Bottom Line - Should You Buy Polygon’s MATIC?
Polygon’s MATIC is one of the best performing cryptocurrencies in 2021 and will continue to bring more returns to traders and investors in the short and long term. Experts at Wallet Investor believe you should consider investing in Polygon’s MATIC.
According to the experts, MATIC could command an average price of $3.711, a minimum price of $3.301, and a maximum price of $4.079 in the short term. In the long term, the financial assets prediction website forecasts MATIC to test an average price of $26.595, a minimum price of $26.167, and a maximum price of $27.026 by the close of 27th June 2026.
With that said, you should know that most investments come down to risk and reward. You should endeavour to ask the question, do the potential rewards in investing in Polygon’s MATIC outweigh the possible consequences of the risks?
Polygon has several risks but the primary factor is competition from other layer 2 scaling solutions. On the other hand, Polygon continues to form successful partnerships with Cream Finance and Pickle Finance announced in the last week of June. In addition to this, MATIC continues to see liquidity due to its affordability, accessibility, consistent trading volume, and a potential scarcity to look forward to in the future.
So, is Polygon’s MATIC a good investment? Investing in MATIC could result in huge gains in the future as early patrons of the asset at the beginning of 2021 have seen great yields in just 6 months. Is it worth investing in Polygon’s MATIC? Investing in MATIC is worth your hard-earned money. This is because analysts have used fundamental and technical analysis and their conclusion forecasts the cryptocurrency to return at least 50% for investors by the end of 2021.
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