Everyone’s excited about Polygon and the potential upside. We see people asking for MATIC price predictions constantly; will Polygon MATIC reach $10, is Polygon MATIC a good buy, can MATIC reach $5, what will Polygon’s MATIC be worth?
We are in the very early days of blockchain and patience is required.
But, we’ll try to give you our best guess at a Polygon MATIC price prediction.
There has been an absolutely breathtaking rate of adoption, since Ethereum transactions can be so expensive and slow. For Ethereum to grow it needs scaling solutions, like Polygon.
Is Polygon MATIC a good buy?
The Daily Hodl says that people are withdrawing MATIC tokens from centralized exchanges at an unprecedented pace. Exchange supply is down almost 20% from mid October 2022 to November 4th, 2022. That usually means that people intend to hold onto the tokens.
Data from LunarCrush shows that social mentions and shares are up 130% over the past week. See image below.
According to Cointelegraph, “Polygon’s network growth and daily active user stats are encouraging.” On August 4, 2022 Polygon collected $42,093 in fees from 248,853 daily users. On October 31, 2022 Polygon collected over $100,000 in fees from over 500,000 daily users.
In the last two months daily active users are up over 100% and fees collected are up over 130%,
What will Polygon MATIC be worth?
Before going on, please know that nothing we say here should be considered financial advice. Do your own research and never invest funds you can’t afford to lose. All of crypto is still a big science experiment.
Given the statistics above we feel that MATIC can rise 100% from it’s August 5th price of $0.92. That would give MATIC a near term price target of $1.84.
The recent pop in price from the good news puts MATIC at $1.15 as of November 6, 2022. That means there could 60% more near term upside.
It’s important to remember that we’re not only in a crypto bear market, but a global asset bear market. So, there will be plenty of volatility along the way.
We opened by parroting the questions we see online like, can Polygon MATIC reach $5? Yes, we believe it can, but it’s unlikely to happen within the next 12 months.
How to get free MATIC tokens
If you plan to hold your MATIC tokens for the medium to long-term, consider staking them. You can earn passive income on your idle crypto.
Staking your tokens assigns their voting power to validators, like us. Voting power allows us to sign transactions and create blocks. In return, you’re paid staking rewards.
It’s never been easier to get free crypto!
Staking is super simple and can be done from several wallets. Check out our MATIC staking tutorial for more info.
According to the MATIC staking calculator, the current yield to stakers is just under 5%.
New tokens are issued at a fixed rate. The variable that changes the staking rewards rate is the number of tokens staked. As more tokens are staked the yield falls, because the reward pie is being divided up between more wallet addresses.
It’s normal for staking yield to fall as networks mature. That’s a healthy sign and with the ETH staking benchmark around 5%, MATIC staking returns are right in line.
If you have any questions about staking your MATIC, please fill out our contact form.
Nothing we say is financial advice or a recommendation to buy or sell anything. Cryptocurrency is a highly speculative asset class. Staking crypto tokens carries additional risks, including but not limited to smart-contract exploitation, poor validator performance or slashing, token price volatility, loss or theft, lockup periods, and illiquidity. Past performance is not indicative of future results. Never invest more than you can afford to lose. Additionally, the information contained in our articles, social media posts, emails, and on our website is not intended as, and shall not be understood or construed as financial advice. We are not attorneys, accountants, or financial advisors, nor are we holding ourselves out to be. The information contained in our articles, social media posts, emails, and on our website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation. We have done our best to ensure that the information provided in our articles, social media posts, emails, and the resources on our website are accurate and provide valuable information. Regardless of anything to the contrary, nothing available in our articles, social media posts, website, or emails should be understood as a recommendation to buy or sell anything and make any investment or financial decisions without consulting with a financial professional to address your particular situation. Blocks United expressly recommends that you seek advice from a professional. Neither Blocks United nor any of its employees or owners shall be held liable or responsible for any errors or omissions in our articles, in our social media posts, in our emails, or on our website, or for any damage or financial losses you may suffer. The decisions you make belong to you and you only, so always Do Your Own Research.