Since the beginning of the year, the crypto market has been on a strong downtrend. In June 2022 however, prices started to sharply recover. August onwards was a consolidation phase where most cryptos started to plan their next move. Polygon MATIC was among the cryptocurrencies that managed to have a strong comeback. Unlike Bitcoin which is still consolidating around 20K, MATIC prices tripled in a matter of a few weeks. Will MATIC price triple again? How high will MATIC price go? Let’s analyze in this Polygon MATIC price prediction article.
What is MATIC coin?
Blockchain network Polygon features an Ethereum scaling strategy. Making Ethereum transactions simpler and less expensive is Polygon’s main objective. It makes use of layer 2 sidechains, which could more successfully distribute the significant transaction load across other chains. The network token is called MATIC. It is used to pay transaction fees in addition to participating in the proof-of-stake consensus technique. The MATIC abbreviation was originally used to refer to the Polygon network. One of Polygon’s future objectives is to develop into a stand-alone multi-chain network. Polygon describes itself as “Ethereum’s Internet of Blockchains.”
How did Polygon MATIC price Perform in 2022?
MATIC prices reached their all-time high price of around $2.9 back in December 2021. However, the crypto market did not help as prices were already on a strong downtrend. Consequently, MATIC also witnessed severe dumping, which led to prices reaching their bottom price of $0.33 in June 2022. Back then, the entire crypto market reached its bottom as well.
When other cryptocurrencies started to consolidate, MATIC was up for a price boom as talks for scalability and efficiency started to occur with the Ethereum merge. MATIC prices tripled and reached a price of 1$ within 1 month. Afterwards, prices adjusted slightly to reach the current price of $0.82.
Where to Buy MATIC?
The Polygon cryptocurrency MATIC may be purchased on several exchanges. Here is a list that CryptoTicker suggests, taking into account the largest:
When trading CFDs, eToro is an excellent substitute for buying the actual tokens and trading the price discrepancies, which relieves you of the burden of worrying about the storage and security of your cryptocurrency holdings.
MATIC Wallet – Which one is the BEST?
Well, there is no “perfect wallet” to use when it comes to storing your cryptocurrencies. However, it is always a good idea “not to put all your eggs in one basket”. The tech world is known for security breaches, maintenance problems, and uncertainty. However, below is a list of the most solid options to date that can act as MATIC wallets:
To set up the MetaMask for the Polygon, users should add a custom RPC. To accomplish this, first, click on the Network.
Next, click on Custom RPC. Users will find the Custom RPC option at the bottom. The next step will be to add the expected data as shown below:
- Polygon (Matic Network) to Metamask
- Network name: Matic Mainnet
- New RPC URL: https://rpc-mainnet.maticvigil.com/
- Chain ID: 137
- Currency symbol: MATIC
- Block Explorer URL: https://explorer.matic.network/
Once users have added the URL in the New Network field, click on Save. They will later shift to Matic’s Mainnet now in the network dropdown list.
Where to Stake MATIC?
Staking is the process of locking up your tokens in return for a profit. Coinbase is a good exchange that offers MATIC as an option to buy and even stake.
Staking on Coinbase enables you to start receiving incentives for your cryptocurrency. 8.7% APY is the current expected yearly return for Coinbase MATIC staking. Every few days after your first holding period is up, you’ll start receiving incentives in your account.
You’ll always be in charge of your MATIC holdings. You only receive incentives while keeping your cryptocurrency secure with Coinbase; your MATIC never leaves your account.
You can start earning rewards right away by simply purchasing MATIC on Coinbase or adding MATIC tokens to your Coinbase account from an external wallet. To start earning staking rewards right away, create a Coinbase account here.
Polygon MATIC Price Prediction – Will MATIC price reach 3$?
The first obvious target for MATIC is currently the 1$ price mark. MATIC adjusted earlier from that price lower and reached its current price of around $0.82. Once the 1$ price mark is breached higher, we can set the next targets:
Reaching the $3 price is a bit of a stretch for MATIC, as it means that prices have to triple again within 2 months. Although MATIC already tripled within 1 month, it is hard for prices to do it again, especially since the crypto market is still in consolidation mode. MATIC reaching 3$ should still happen by mid-2023.
MATIC Price Prediction 2030
The minimum and maximum MATIC price prediction 2030 are anticipated to be about $5 and $30, respectively, based on technical analysis of MATIC prices conducted by cryptocurrency experts. The usual expected trade cost is $10.
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