The crypto market is still considered to be consolidating. Crypto prices barely did anything interesting in the past 3 months. However, one particular cryptocurrency seems to be preparing for a price boom thanks to its mainstream adoption. Of course, we’re talking about MATIC! Will MATIC price reach 1 $ before 2023? Technically yes, if this specific thing happens…read on in this MATIC price prediction to know what we’re talking about
What is Polygon MATIC Crypto?
Polygon (formerly known as Matic Network) is a blockchain platform that aims to provide a more scalable and user-friendly experience for decentralized applications (dApps). It is a Layer 2 solution that uses a network of sidechains to offload some of the transactions from the main Ethereum blockchain, allowing for faster and cheaper transactions.
Polygon was founded in 2017 by Jaynti Kanani and Sandeep Nailwal, with the goal of making it easier for developers to build and deploy dApps on the Ethereum network. The platform uses a proof-of-stake (PoS) consensus mechanism, which allows users to earn rewards for participating in the network by staking their tokens.
Why is Polygon a Good Blockchain?
In addition to providing faster and cheaper transactions, Polygon also offers a number of other features, such as support for multiple blockchains, including Ethereum, Binance Smart Chain, and Maticchain, as well as tools for developers to easily build and deploy dApps on the platform.
Overall, Polygon aims to improve the scalability and user experience of the Ethereum network, making it easier for developers to build and deploy dApps and for users to interact with them.
Which Companies are using Polygon?
The list of companies that are tapping into the metaverse and Web3 is growing by the day. Just last week, we saw at the big Metaverse event Berlinverse how Web3 is paving its way into the mainstream. To date, there are many known brands and companies that are experimenting in the crypto space, be it NFTs to loyal fans or creating “digital collectibles”.
Here are the most known companies to date that are using Polygon:
- Walt Dysney
MATIC Price Prediction: Will MATIC reach 1 $ before 2023?
The rise of MATIC in the medium term is imminent. Its prices are already up by 3x since the last crypto crash. However, with the latest FTX crash events, things kinda slowed down. If the crypto market manages to withstand the negative news of SBF’s arrest, MATIC can have some hope of reaching 1 $.
If we look at figure 1 below, we can notice how MATIC prices have been consolidating since the beginning of the month. The consolidation is delimited between 88 cents and 95 cents. If MATIC manages to break the upper limit, we can safely assume that the 1$ price mark will be attained.
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