Polygon’s Value Grows as Its Apps Grow in Usefulness and Popularity-_Cryptocurrency.Mohoagd

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MATIC's value could treble in the coming year as a result of its attraction to Dapp and Defi developers.


Polygon  recently hit a high of $2.8988 on December 26. It has been growing since the end of 2021, while other cryptos have been dropping like flies. However, it has fallen off significantly from that price since then. MATIC coin was trading at $2.22 per token on January 17th.


This means it's down 20% from its last high of less than a month ago. This demonstrates how volatile this cryptocurrency can be. It has a lot of variation.


However, this is one of the reasons why MATIC crypto has a decent possibility of succeeding in 2022. Given the Polygon's general usefulness as a popular cryptocurrency, I believe it has a decent chance of recovering from here.


Where Things Stand With Polygon


Polygon had a fantastic year in 2021. MATIC cryptocurrency rose from 1.781 cents on December 31, 2020 to $2.5784 at the end of 2021. As a result, it is expected to be one among the best-performing cryptos in 2021. It increased 144 times in 2021, providing an incredible return for anyone who kept it for the entire year.


Most MATIC crypto investors likely purchased in around the spring or later, after the price had already risen. I believe that most MATIC crypto token owners today pay between $1.50 and $2.00 per token.


As a result, most owners will still get a decent return, perhaps between 16 and 52 percent. That is, however, a far cry from 144 times. Polygon shareholders, for the most part, are hoping for another strong year in 2022.


Developers’ Affinity With Polygon


Polygon's official blog has published an article describing how developers prefer Polygon to other blockchains for "Web3." Web3 refers to a newer, decentralized version of the internet that does not rely on massive server farms to store all of the data.


It also refers to blockchains like Polygon, which have a large number of nodes and will contain the next "decentralized" internet. 


This is in contrast to the current "centralized" structure, in which Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL), Amazon's (NASDAQ:AMZN), and Microsoft's (NASDAQ:MSFT) server farms handle a large portion of the internet's traffic.


Polygon has also become a popular platform for non-fungible tokens (NFTs) and other digital collectibles, according to creators. In fact, one of its flaws, according to Decrypt magazine, may be this.


It has become so popular that transactions on the Polygon platform are becoming clogged, resulting in higher fees and slower transactions. Polygon was created as a competitor to Ethereum , with faster transaction times and lower transaction fees.


The number of Web3 teams using Polygon as an Ethereum  migration project blockchain has increased 100-fold in the last year, according to a Polygon blog post.


As a result, major corporations have turned to Polygon to advertise their non-fungible tokens (NFTs) in NFT exchanges. The Associated Press, for example, recently announced that it would start its own NFT marketplace on Polygon to support journalism.


Polygon just announced the acquisition of the Mir protocol to expand its possibilities. This will allow it to construct decentralized apps outside of the Ethereum network using "zero-knowledge proofs." It used its own MATIC-USD coins to pay for the protocol.


This will allow it to construct decentralized apps outside of the Ethereum network using "zero-knowledge proofs." It used its own MATIC-USD coins to pay for the protocol.


What To Do With MATIC Crypto


Polygon's appeal among NFT developers, paired with its own rapidly expanding network, will continue to drive MATIC cryptocurrency higher. Polygon's appeal among developers, defi sites, and crypto investors will propel MATIC cryptocurrency higher in 2022.


During the year, investors should expect it to double or nearly double in value.

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