Polygon Looks Like Good Value Here As Its Popularity Grows-Cryptocurrency.Mohoagd



As Polygon Defi apps get more popular, MATIC crypto is expected to rise during the coming year.

On December 16, the Polygon  blockchain reached a high of roughly $2.90 per MATIC crypto token. However, as of Dec. 28, it has dropped significantly from that price and is now trading at $2.55 a token. However, I believe that this is only a blip on the radar, and that cryptocurrency will continue to thrive next year.

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After all, thus far in 2021, it's had a fairly decent run. MATIC coin has gained 142 times since its low point of 1.781 cents on December 31, 2020, to $2.55 on December 28. As a result, it is expected to be one among the best-performing cryptos in 2021.

Furthermore, since hitting $1.266 on September 30, MATIC crypto has increased by 101 percent as of December 28. In other words, it has increased by a factor of three in the last three months.

That's a tremendous return on investment. Investors should not be shocked that the cryptocurrency has retreated from its recent highs.

This is, by the way, the highest it's been all year. This includes its top price of $2.45 in May, which coincided with other cryptos' peaks. Polygon's stock had plummeted to as low as 69 cents by July 19. Following that, it rose to a high of $2.92 on Dec. 16.

According to Coinmarketcap.com, the Polygon blockchain now has a market valuation of $18 billion. According to Coinmarketcap, it is the 14th largest cryptocurrency in the world.

Where Things Stand With Polygon

Polygon 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 retain all of the records.

Web3 refers to various blockchain systems, such as Polygon, that will contain the future generation of the Internet. This is in contrast to the current arrangement, in which Alphabet  Amazon (NASDAQ:AMZN), and Microsoft (NASDAQ:MSFT) server farms control the majority of internet traffic.

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

Polygon has a number of advantages for developers.

Popularity With the Investing Public

The popularity of Polygon among the general population is another cause for the MATIC crypto's rise. According to DefiLlama.com, Polygon has a total value locked (TVL) of $5.5 billion. 

This is the total amount of MATIC cryptocurrency held in various apps, including deposits in digital wallets and Defi staking sites.

Staking functions in the same way that a bank's certificate of deposit (CD) does, with different interest rates and terms. (DeFi apps generally don't want to be associated with "interest" or operating as banks.)

The bottom line is that this $5.5 billion represents a significant chunk of the company's entire market cap of $18 billion, accounting for almost 30% of its total value. This is a good indicator of how much people like and trust Polygon.

Where This Leaves Investors in MATIC Crypto

Polygon's appeal among developers, defi sites, and crypto investors will propel MATIC cryptocurrency higher in 2022.

It is now possible that it will not increase as high or as quickly as it did in 2021. However, the performance of MATIC crypto in Q3 could provide some insight. MATIC crypto will continue to rise as more Defi apps employ Polygon to avoid Ethereum's high transaction prices and long transaction times


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