MATIC prices didn’t do anything spectacular when the crypto market moved higher last week. However, its prices today soared by more than 20% and broke the $1 price mark. In a previous article, we did warn about MATIC reaching $1. Why is MATIC up? What’s next for MATIC prices? Let’s analyze in this MATIC price prediction article.
What is Polygon MATIC?
Polygon is a scaling solution for the Ethereum Blockchain. Transactions become quicker and more effective. To evenly share the strain of transactions occurring on Ethereum, Polygon makes use of so-called “sidechains.” A layer 2 solution focuses on this. Ethereum devised its own scaling strategy to get around the hefty costs. The network was originally known as MATIC. At the conclusion of 2017, this was published on the Ethereum blockchain. Later, Polygon was given to the network. The native token’s name is merely MATIC.
Polygon aims to simplify the Ethereum blockchain with the second layer. The productive proof-of-stake consensus technique underlies the operation of Polygon’s sidechains. Developers may use Polygon to handle their smart contracts and dApps.
Why is MATIC price up?
For a small group of Facebook creators in the United States, Meta is testing non-fungible tokens (NFTs) with Ethereum and Polygon. The action comes after the social media juggernaut’s May NFT support for a select group of Instagram creators. Last week, Meta increased the number of artists who may exhibit their NFTs through its Instagram NFT pilot.
Similar to Instagram’s original pilot, the Facebook experiment lets creators show NFTs on their profiles under a new tab. Similar to Instagram, the artwork shows under the “digital collectibles” category.
After this news, MATIC prices soared high and reached the current price of $1.15.
MATIC Price Prediction – is MATIC a Good Buy?
MATIC is definitely a good buy, we’ve been talking about how MATIC prices are about to rise soon for weeks. However, after this sudden rise in prices, it might be a good idea to wait before purchasing MATIC. After sudden price increases, price adjustments usually do occur.
Plotting the Fibonacci retracement on this price increase shows that prices might adjust at the first level towards $1.105 and then to $1.06.
Offer from CryptoTicker
Are you looking for a chart analysis tool that doesn’t distract you with community messages and other noise? Check out GoCharting! This is an easy-to-use online charting tool that requires no downloads or prior knowledge.
- Why is MATIC Price UP despite the Bearish Crypto Market? Here’s Why…
- Can MATIC Price reach 3$ ? Mixed Opinions BUT…
- Polygon MATIC Price reaches 1 $ – Here’s where it’s going to go next!
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- MATIC Price BOOMS 60%! Why is MATIC up?
- Will MATIC reach 1 $ before 2023? Very likely if This happens!
- Polygon Price Prediction – MATIC Price might BOOM 20%?
- Shiba Inu Prediction 2025 – Can the Meme Coin Repeat Its BOOM?
- Polygon Price Prediction – MATIC Price to BOOM?
- Can Polygon MATIC Price reach $100 in the future?
- XRP Price can TRIPLE in the next few weeks if THIS Happens, Here’s Why
- MATIC Price Prediction – MATIC UP 5% breaking 80 cents, 1 $ Soon?
- MATIC Price Prediction 2030 – Is MATIC a Good Buy Today?
- MATIC Price Crash – Why did MATIC prices Collapse?
- LAST CHANCE to Buy XRP below 50 cents…Here’s Why!
- MASSIVE Opportunity on Polygon! MATIC Price at 1$, BUY NOW?
- MATIC Price UP 50% in the past week! Can MATIC reach 1 $ soon?
- ADA Price Prediction: Can Cardano Price Reach 3$ by the end of the year 2022?
- MATIC Price Prediction – BIG GAINS if you Follow this Strategy!
- Top 5 Altcoins to BUY in September 2022 – The Merge is HERE!
- 3 Possible Reasons why Investors are Stocking up on MATIC