Polygon's recognition, a return to the original promise of Ethereum, and a stronger Polygon DeFi ecosystem are all reasons why the organization sees this as a milestone. Now you might ask, where is MATIC headed?
Even though the token used in the framework, which intends to improve interoperability between the Ethereum blockchain and compatible networks, had a rough December, its price has risen 30% in the last week.
The revelation that Uniswap, a mechanism for swapping cryptocurrency, is now live on Polygon may have given the last push. "All Uniswap V3 contracts are already deployed to the Polygon PoS mainnet, and Polygon is now supported in the official Uniswap interface," the announcement stated.
Polygon's recognition, a return to the original promise of Ethereum, and a stronger Polygon DeFi ecosystem are all reasons why the organization sees this as a milestone.
Now you might ask, where is MATIC headed?
To increase Ethereum's scalability and interoperability, the layer-2 network Polygon was formerly known as Matic Network (until its rebranding in February 2021).
An easy-to-use platform for Ethereum scalability and infrastructure development is what Polygon calls "Ethereum's internet of blockchains."
It is Polygon's goal to improve Ethereum's user experience (delayed transactions), throughput, and lack of community control by implementing a new sidechain solution on top of the Ethereum network.
This year, MATIC has outperformed several other cryptocurrencies. The price has increased from $0.01 on January 1st, 2021 to $2.16 at the present time (16 December).
During a four-week period beginning on April 20, 2021, MATIC, Polygon's native token, rose from $0.34 to an all-time high of $2.68 on May 18, 2021.
On 23 May 2021, MATIC fell to $1.09, before rebounding to $2.21 on 26 May 2021. By 20 July 2021, the token's value had dropped to $0.69, but since then, it has seen a surge in demand.
The MATIC price has risen to a new all-time high of $2.13 at the end of October. Since then, the token's value has fallen from $2.13 on October 28 to $1.58 in November 2021. It hit a new all-time high of $2.7 in December.
In what's left of 2021 and beyond, will the MATIC token be able to break out of its recent slump and regain positive momentum?
Trades should keep an eye on a number of support and resistance levels based on this year's Matic to USD prediction.
According to CoinCodex, the next level of support is at $2.31, followed by $2.24, as on December 23, 2018. The $2.64 and $2.78 levels of resistance are the first to come into play. Predictions for Polygon's stock price were optimistic, with 26 technical indicators indicating a positive outlook, and no negative signs.
For the remainder of the year and beyond, some algorithm-based forecasting firms have shared MATIC crypto price estimates as early as December 16.
GovCapital expects MATIC to begin the year at $2.04 and conclude it at $3.94. Then, by the end of 2023, it might reach $5.79, and by the end of 2025, $9.55.
When it comes to the long run, Wallet Investor believes MATIC will be a "amazing" investment. MATIC is expected to begin the year at $2.19 and grow to $4.1 by the end of the year, according to its Polygon crypto prediction. It's predicted to be $6 by the end of 2023 and $11.6 by the end of 2025, respectively.
The Polygon (MATIC) coin price forecast from DigitalCoin is likewise positive, predicting a slow rise to $4.1 at the beginning of 2022, and then $4.8 in 2023, and $5 in 2025. For the foreseeable future, none of the services estimate prices higher than $11.1 by the end of 2028, although Digital Coin does.
It's vital to keep in mind that experts' price expectations for MATIC might be inaccurate. Cryptocurrency analysts use fundamental and technical analysis to make their predictions. There is no way to predict the future by looking at the past.
Investors have seen some great gains so far this year, but it's anyone's guess whether or not they will continue to rise.
Don't invest more than you can afford in the unpredictable cryptocurrency market, as always, be careful. You should keep in mind that a MATIC pricing projection is just an estimate.
So, to answer whether MATIC is a good long-term investment or not, the answer is yes.
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