Brief Introduction Of Polygon MATIC

In October 2017 Polygon was launched as Matic by a team that participated in a number of Ethereum ecosystem projects. In the first version of Plasma, which is now used in the Polygon Network, the Polygon team has implemented Vitalik Buterin, a co-founder of Ethereum.

In February 2021 Polygon (MATIC), which was renamed to the present name of the Matic Network. The ERC-20 token saw a significant price rise from the 1st of the year, from $0.0175 to $0.446 on March 12, or an increase in value of 2.548%. A recent listing on Coinbase several days before 10 March coincided with its local peak on 12 March.

How Polygon MATIC Works

Matic was renamed Polygon in February of this year in an effort to broaden its scope. It is now a platform for Ethereum scaling and infrastructure development, where it aids in two types of solutions: secured chains, also known as Layer 2 chains, and stand-alone chains, also known as Sidechains.

While Layer2 scaling solutions rely on Ethereum for security, Sidechains are entirely responsible for their own. “Polygon transforms Ethereum into a full-fledged multi-chain system or an Internet of Blockchains,” according to the startup.

Funding secured by Mark Cuban

Mark Cuban, the Shark Tank star, has invested in Polygon, an Indian cryptocurrency platform that aims to provide faster and cheaper transactions on the Ethereum blockchain.

Vitalik Buterin, the creator of Ethereum, recently donated over one billion Shiba Inu Coin to India’s COVID-Crypto Relief Fund, set up by Polygon co-founder Sandeep Nailwal, in one of the largest-ever individual philanthropic efforts.

“I believe we will eventually receive around $50 million. If Elon Musk or another celebrity mentions it again, perhaps $100 million, but more than that is unlikely,” Sandeep Nailwal says.

The current market capitalization of MATIC Coin

Polygon has regained control of its market capitalization, which had fallen below $10 billion during the recent crypto price drop.

At the time of writing, the live Polygon price is $2.20 USD, with a current market cap of $13,643,883,337 USD. Polygon has been one of the hottest projects in the blockchain realm over the last 12 months. Matic has gained +7,971% in the last year and has benefited greatly from Ethereum’s clogged network.

With Ethereum’s scaling issues holding it back in some ways over the last year, layer-2 projects like Polygon have been able to thrive in terms of valuation.

Future of polygon Matic

With a decentralized and confidential implementation, Polygon Matic aims to achieve a high level of decentralization while ensuring near-instant transfers, low fees, and economic benefits for micro-transactions. The user experience that is very poor in blockchain applications is a key pillar of Matic Network ideology as of today.

Mobile/web browser libraries of great developer experience have already been created by the Matic team, which enable companies to create large-scale real-world user applications. Matic roadmap also includes support for interchange transfers and decentralised exchanges with third parties, liquidity pools, etc.

Crypto price predictions can be extremely difficult, especially in light of the recent May 19 crypto crash. However, many cryptocurrency experts have predicted MATIC’s price. According to capital.com, MATIC could reach an all-time high of $10 by the end of 2021. Many other crypto experts have made the same prediction, believing that MATIC is underappreciated for the features it offers.

Where to buy polygon Matic(at BuyUcoin)

You can purchase Polygon legitimately utilizing the best crypto exchanger named BuyUcoin because you can spare Polygon in a wallet that is profoundly viable for it.

Step 1: Open your free crypto wallet BuyUcoin Account

Step 2: Register & Open your free Cryptocurrency account with BuyUcoin

Step 3: Visit the BuyUcoin Exchange menu in your crypto wallet to find a Polygon exchange pair with MATIC-USDT pair.

Step 4: If you don’t have USDT, add funds from your favourite UPI payment mode to buy USDT i.e Paytm, PhonePe, Mobikwik, Google Pay, Bhim Pay or credit card and debit card.

Step 5: Buy Polygon in India with your USDT token

Polygon price analysis

Polygon Matic has gained +1,795% against BTC and +539% against ETH over the last 12 months. The value of a token should be correlated to some utility that each person subjectively finds in any project; additionally, users are clearly finding value on the Polygon network, and many Defi applications have already moved to layer-2s.

Matic’s all-time high of $2.65 was set only eight days ago, on May 18th. More than 62% of Matic’s supply is currently in use, with a total cap of 10 billion units planned in the future. Matic closed the daily candle on Tuesday at $1.94.

Polygon Matic token’s 4-hour technical chart shows a bullish trend. Polygon’s significant support level, according to pivot points, is $0.75. If it continues to rise, the key resistance to watch is $2.30. Furthermore, the chart shows a bullish two candle reversal pattern, indicating that the Bulls are in control of the movement.

The coin’s price levels are reliably supported by the Exponential Moving Average (EMA) of 200. Investors may notice that the price has broken through the EMA-200. So, as long as the price remains above both EMAs, Polygon will remain bullish. With a rate of 50, the RSI indicator (Neutral) projects a neutral signal in the coin.


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BuyUcoin Blog | By Anubha Singh