Polygon Price

Polygon (MATIC) is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum that aims to provide faster and cheaper transactions using Layer 2 sidechains. Polygon was formerly known as Matic Network, and rebranded itself in February 2021 to reflect its expanded vision and scope. Polygon has attracted many developers and users who want to enjoy the benefits of Ethereum without its limitations, such as high gas fees and network congestion.

Polygon has a halving mechanism whereby the block reward for minting new MATIC tokens is reduced by half every 2,100,000 blocks, approximately every two years. The next expected halving is projected to occur in late April 2024.

During a halving event, the block reward will decrease from the current 1.87 MATIC to 0.9375 MATIC. With fewer new tokens entering circulation each block, this should reduce Polygon’s annual inflation rate and restrict the overall supply growth of MATIC.

Most analysts expect the upcoming halving to have a considerable impact on MATIC’s price. In the months leading up to the event, speculation typically drives the price higher as investors anticipate reduced future supply. However, the aftermath is less predictable. For Bitcoin and other assets, their halvings often corresponded with extended bull market cycles as buyers absorbed the diminished new token issuance.

Polygon Price Live

The live Polygon price today is $0.509309 USD, with a 24-hour trading volume of $255,514,756 USD, according to CoinMarketCap. The token is down 0.68% in the last 24 hours, and has a market capitalization of $4.7 billion USD, making it the 14th largest cryptocurrency by market cap. The circulating supply of Polygon is 9.3 billion MATIC, out of a total supply of 10 billion MATIC.

You can view the live Polygon price in the chart above, which shows the MATIC/USD pair on a daily time frame. The chart also displays the historical prices, trading volume, market cap, and other indicators of Polygon. You can use the chart to analyze the price movements and trends of Polygon, as well as to compare it with other cryptocurrencies.

Polygon chart

The Polygon graph displayed here provides a visual representation of MATIC’s historical price data over time. The Polygon chart helps users analyze the performance and volatility of the Polygon token through periods of bull and bear markets.

Viewers can customize the time period shown on the Polygon chart to zoom in on shorter durations or pull out for a bigger picture over months and years. Technical indicators like the 50-day and 200-day moving averages are overlaid on the graph to identify key support and resistance levels.

Common charting elements like lines, arrows and annotations can also be added using the drawing tools. This allows traders to pinpoint potential buy and sell signals by marking areas of interest on the Polygon chart. Videos and tutorials are available to help new users understand how to optimize the chart settings.

Below the Polygon graph is a handy Polygon calculator to convert between MATIC and other currencies. By inputting an amount of MATIC tokens, users can view the estimated value in currencies such as USD, EUR, GBP and more. Automatic price updates from CoinMarketCap ensure accurate conversions using current exchange rates. Combined, the chart and calculator provide comprehensive price data and tools for Polygon price analysis.

Polygon price history

Polygon has had an impressive price history since its launch in April 2019. The token started from a very low value of $0.0004 and gradually increased until it reached its all-time high of $2.68 on May 18, 2021. This was a stunning increase of over 670,000% in less than two years. The price surge was driven by several factors, such as:

However, after reaching its peak in May 2021, Polygon experienced a sharp decline in price, along with the rest of the crypto market. The price dropped by over 80% in June 2021, due to factors such as:

Since then, Polygon has been trading in a range between $0.50 and $0.60, with occasional spikes and dips. The price has been influenced by various events and developments, such as:

Polygon Price Prediction

Polygon price prediction is a challenging task, as there are many factors and uncertainties that can affect the future value of the token. However, based on some assumptions and analysis, we can provide some possible scenarios and estimates for the Polygon price in the coming years.

According to some experts, Polygon is expected to increase in price in the long term. Based on their Polygon price prediction, the token may trade at an average of $0.88 by the end of 2023, $1.16 by the end of 2024, $1.49 by the end of 2025, $1.87 by the end of 2026, and $2.53 by the end of 2030.

It is important to note that these are only estimates and projections based on historical data and trends, and they do not guarantee or imply any future results or outcomes. The actual price of Polygon may vary significantly from these predictions, depending on various factors such as market conditions, supply and demand, innovation and development, regulation and adoption, competition and rivalry, and more.

Some of the possible scenarios for Polygon price prediction are:

Therefore, before investing in Polygon or any other cryptocurrency, you should always do your own research and analysis, consult with experts and professionals, and be aware of the risks and rewards involved.