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Polygon, sometimes identified as “matic” and using the ticker MATIC, is the token of the Polygon network. It’s different from many other cryptocurrencies on the market. Rather than running on their own blockchain, matic tokens are traded on the Ethereum blockchain. That’s because Polygon was developed to help scale Ethereum through side chains.
Matic ended 2022 at about $1.16 and is trading for $1.25 as of Feb. 11, but what are its long-term prospects?
What Is Polygon MATIC?
GOBankingRates describes Polygon as “an express train” riding along the same track as other sidechains on the Ethereum track but going faster and with fewer stops. In fact, Polygon’s website describes the network as “Ethereum in the fast lane.”
Polygon uses a proof-of-stake architecture to process transactions, making it faster and more efficient than some other blockchain networks. Some investors peg its reliance on Ethereum as a benefit, while others see it as a drawback.
Matic allows you to stake on the Ethereum blockchain and also pay for transactions using the currency. This has helped reduce the high transaction costs inherent on the Ethereum blockchain, helping promote widespread adoption. It supports the creation of decentralized apps and smart contracts while leveraging the benefits of Ethereum’s excellent security protocols.
Polygon is also more environmentally friendly than many other cryptocurrencies, with a goal of going carbon-negative in the near term and “climate positive” in the future. This alone could help drive Polygon’s adoption and attract favor from investors.
Users can deposit matic from the Ethereum network, interact with tokens and then withdraw coins back to the Ethereum blockchain.
In February 2023, Polygon has a market cap of $10.93 billion, with 8.73 billion matic coins circulating, according to CoinMarketCap.
All this bodes well for the future of matic. But you may still have questions. Can matic reach $10? What will matic be worth in five years?
Polygon Matic Price Prediction for 2023
CoinMarketCap says matic is worth roughly $1.25 as of Feb. 11. That’s down 3% from the previous day, consistent with decreases for both bitcoin and ethereum on the same day.
Although matic is trading closer to its 52-week high of $1.87 than its 52-week low of $0.32, it might still be a good value to purchase right now. But what are the matic price predictions for the rest of the year?
The Changelly blog acknowledged that no one knows for sure how matic will perform. However, it said experts predict matic could end the year at $1.77 minimum and as much as $2.07 in December. The average prediction is $2.00.
DigitalCoinPrice sees a bit of a jump ahead. The site predicts that matic will reach a maximum of $2.73 by the end of the year.
Gov Capital thinks matic could reach about $2.81 per coin by this time next year.
What Will Matic Be Worth in Five Years?
Looking ahead five years to 2028, DigitalCoinPrice pegs matic’s price at $5.90 on the low end and $6.73 as a maximum price.
It’s important to remember that the crypto market leaves plenty of room for correction, with coins dipping substantially before reaching another bull cycle. Matic has lots of room to rise. It has already come a long way from its start, when it hit the market at just $0.004 per coin.
Of course, cryptocurrency is highly volatile and investors should always proceed with caution. Never invest more than you care to lose in speculative investments like cryptocurrency.
Fundamentals Driving Polygon Upward
The capability to trade non-fungible tokens, or NFTs, on the platform is working in Polygon’s favor. Matic got the support of big brands like Adidas and Prada in an NFT charity project called Adidas for Prada Re-Source. More recently, Nike launched its .Swoosh Web3 platform on Polygon and will issue the platform’s first NFTs this year.
Play-to-earn games, Polygon’s highly efficient proof-of-stake process and the overall growth of the ecosystem could also help drive the price of matic coins up, according to FX Empire. Some investors see matic as a long game with lots of future potential.
Will Matic Reach $10?
Just how optimistic are investors and analysts? Can matic reach $10? How rich could you get investing in matic? There’s no way to know, but some analysts are optimistic about matic’s long-term potential.
Although most experts have more conservative predictions, Trading Education predicts that matic could rise above the $10 mark to reach at least $10.55 by the end of 2030.
Changelly, however, predicts that the coin will reach $10 by 2028. The site forecasts a maximum price of $10.92 in December of that year.
In either, admittedly speculative, case, if you were to buy matic today at its price of roughly $1.25 and invest $1,000, you’d have 800 coins. At the $10.92 price Changelly predicts, your investment would be worth $8,736 by 2028.
Conclusion
Are you ready to take that risk and invest a bit in matic now? Very few analyst scenarios have matic falling to zero within the next six months, or even 10 years. But investing in cryptocurrency always involves a high degree of risk.
Matic may be one of the best cryptocurrencies to buy and hold right now due to its low price and optimistic prospects that relate to the platform’s fundamentals and partnerships, not to mention its eye on sustainability. GOBankingRates has included Polygon matic on its list of 10 cheap cryptocurrencies to buy.
You can buy matic on many cryptocurrency exchanges, including Binance — Binance.US in the U.S. — Coinbase Pro and UniSwap.
Polygon (MATIC) FAQ
Learn more about Polygon before you invest.
- What will matic be worth in 2025?
- It's impossible to know for sure how much matic will be worth in the future, but average predictions from popular analysis sites range from $3.57 to $4.26.
- Can matic reach $100?
- It's unlikely that matic would reach $100 in the near future. Trading Education, which issues relatively optimistic projections, forecasts that matic will be worth just $13.85 in 2030.
Daria Uhligcontributed to the reporting for this article.
Information is accurate as of Feb. 11, 2023.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
- Yahoo. 2022. "Polygon (MATIC) Price Predictions for 2022."
- Trading Education. 2022. "Polygon Price Prediction."
- Wallet Investor. 2022. "Polygon / USD Forecast, MATIC price prediction: Buy or sell Polygon?"
- Changelly Blog. 2022. "Polygon (MATIC) Long-term Price Forecast."
- CoinMarketCap. "Polygon."
- DigitalCoinPrice. "Polygon Price Prediction - MATIC Forecast."
- Gov Capital. "Polygon / USD Forecast, MATIC price prediction: Buy or sell Polygon?"
- CoinDesk. 2022. "Prada, Adidas Launch NFT Project on Polygon."
- Decrypt. 2022. "Nike Launches .Swoosh Web3 Platform, With Polygon NFTs Due in 2023."
