Cryptocurrencies are extremely volatile assets, and while that may be rather dangerous, this volatility also means you can expect some tokens to grow tenfold or more in no time. You just have to keep an eye on certain promising coins that have solid reasons to skyrocket. One of such coins is MATIC, the native currency of the Polygon network. In this article, we explain why this currency is special and tell you about several good reasons it can hit the $100 mark in the coming years.
The token is primarily used to fuel the Polygon network, a sidechain of Ethereum that helps you make all the transactions cheaper and much faster. Polygon works as a platform that allows developers to create their own scalable decentralized applications without compromising the overall security of the system. This way, thousands of transactions can be processed each second instead of dozens. This solves one of the most crucial problems of the Ethereum blockchain: low speed and congestions.
However, there is another problem: fees. The more people trying to make transactions, the higher the fees for each of them. Polygon solves this problem by using a separate crypto token named MATIC, a coin that has many different applications inside the sidechain. It’s used for paying transaction fees, for staking, and for governing the entire network. That means there are many different aspects that affect its price. Let’s check out the most important of them.
What affects its price
Just like other cryptocurrencies, MATIC is very sensitive to any news related to the project. The team behind Polygon makes sure to actively develop the sidechain and tell the community about that. For example, they have announced recently that the token went carbon negative in response to growing criticism of the industry for wasting too much energy. That announcement attracted some attention, and the price started growing.
Staking is another mechanism behind the token’s value. The more people stake, the less coins are left on the market, and the higher the price. But is that mechanism reliable enough to keep the coin growing? Can MATIC reach $100 in the next ten years? Let’s see what experts have to say.
What experts predict
Even the most modest predictions are optimistic: Coin Price Forecast promises that MATIC will reach $4 by 2033, which means investors can get about 400% by buying it today. However, there are some experts who expect the token to be worth almost $80 in ten years. While that isn’t actually $100, it is still an extremely large value increase.