Many investors believe that the Polygon crypto price will eventually stabilize, and that the market’s volatility will eventually settle down. This phenomenon is known as mean reversion. The price of a Polygon tends to return to its average value over time, and sophisticated investors see this as a good sign. This price trend discourages investors who believe that the price will continue to rise, but at a lower level, thus providing a good opportunity to buy.
MATIC’s price peaked at $2.40 in May 2021
If MATIC’s price were to retest its May 2021 peak, it would mark a massive upward breakout. The price would be at the top of a rising wedge pattern, near the daily Tenkan-Sen. A retest of this level would confirm that the current breakout is valid. On the other hand, if MATIC’s price continues to fall below this level, it could signal profit-taking activity. In the meantime, MATIC could pullback to $1.65, forming a rounded bottom in favor of bulls.
This trend continues to be visible today as MATIC’s price has doubled in just over a year. The rebranding of the company’s coin has spurred the price of MATIC (MATIC) by 120%. The price was also up $400 million in early December. It has been credited with a significant increase in value from the launch of Mir, a zero-knowledge start-up backed by Binance and Coinbase. Polygon’s price is now trading at $2.04 on major exchanges. It is the second-highest cryptocurrency in the world, and has been rated as an “investment” by the Wall Street Journal.
MATIC’s supply is 7 billion MATIC
The Polygon network is a decentralized exchange that enables users to trade digital assets. The native currency, called MATIC, is used to pay transaction fees. The MATIC crypto price is $7 billion today. In May 2021, the MATIC price hit an all-time high of $2.40, and the MATIC price surged nearly 7,000% in just two years. While the MATIC price is still down significantly from the ATH of $10.5 billion in June 2021, the weekly chart still looks bullish.
To buy MATIC, you can use a cryptocurrency exchange. Any major crypto exchange will allow you to do so. You will need to fund your account with a stable crypto or fiat currency. There are also several decentralized exchanges where MATIC can be bought, such as FTX and Gemini. Signing up for a platform requires a short signup process, including providing an email address and a password. Once verified, you can start trading MATIC.
MATIC’s price is on a bearish trend since the start of 2022
The price of MATIC has been on a bearish trend since the beginning of 2022. Most cryptos are losing their profits and MATIC’s price hasn’t recovered from this. But there is a good news: the company’s Polygon platform has attracted institutional investors. It has also been listed on Exchange Trading Products like the Osprey Polygon Trust and the 21Shares Polygon ETP. One of the biggest digital investment firms in the world, Grayscale Investments, has already deemed Polygon as an investment product. They also believe in the huge potential of MATIC, which is the second-most-used crypto after bitcoin. Besides these factors, an increase in the number of active wallet users has also contributed to the increase in the MATIC price.
On the daily time frame, MATIC is trading within an ascending channel. An ascending channel is a parallel sloping line that has a rising price. This sloping line indicates a bullish trend in the short-term. Since the beginning of this month, MATIC’s price has reversal potential. High trading volume is a strong reason for the recent turn of events.
MATIC’s price is expected to reach $3 in 2022
The Polygon project is a promising new addition to the crypto world. It is a blockchain-based project that aims to create digital securities. There are several projects already listed on Polygon, with an increased number of developers each day. Recently, the Polygon ecosystem had more than 11,400 teams. Moreover, Polygon has received institutional backing, with $450 million invested by Sequoia Capital. All this will contribute to the MATIC price rising steadily.
In October, MATIC reached a new high of $2.13. Since then, the price has lost strength. However, a new prediction says that MATIC will hit a high of $2.2 by December 2021. This prediction indicates that MATIC will grow slowly from $2.57 in October to $2.7 in November 2022. This rise is likely to continue until December, when MATIC could surge again to $2.7.
MATIC’s price is expected to reach $5 in 2022
The price of MATIC is projected to increase dramatically in the next five years and may break the previous record of $3 by the end of the year. As a result, the average exchange rate might rise to $5.15 by the end of 2022, and the coin may even reach the top 10 cryptocurrencies by the end of the year. The prediction may not come to fruition if the coin’s price collapses due to outside controversy or bears, but if the price continues to rise dynamically, this prediction will come to fruition.
While the price of MATIC is currently on a bearish trend, most cryptocurrencies are losing previous profits. The company’s platform, Polygon, offers a powerful yet simple-to-use environment for Ethereum scaling and infrastructure development. The platform also offers a modular SDK for building various kinds of applications, including payment and settlement services. MATIC is an ERC-20 token based on the Ethereum blockchain and is used for settlement between users of the Polygon platform.