The Bitcoin halving has put the spotlight on the entire cryptocurrency market, with investors and crypto fans eagerly anticipating record-breaking prices from various digital currencies. Notably, Polygon (MATIC) is one such currency that is widely tipped to reach new peaks within the crypto community due to its promising potential.
Polygon was among the earliest and most distinguished crypto projects to emerge in Ethereum‘s efforts to scale, serving as the first significant layer 2 network. However, with Ethereum scaling now evolving rapidly through projects like Arbitrum and Optimism, along with new L2 networks, some doubt Polygon’s future expansion and relevance.
In the previous crypto market cycle which included a halving event and a bull run, MATIC stood out by surging more than 17,000% in value – rising from $0.01 to reach its maximum price of $2.70, based on Coinmarketcap’s records.
More recently, Polygon has broadened its horizons by creating various scalability solutions for its blockchain network. Primarily, it has concentrated on enhancing Ethereum’s capacity using zero-knowledge proofs (ZKPs). Most recently, it has implemented a layered architecture to distribute the core functions of the blockchain.
Will The Recently Changed Market Dynamics Help Polygon?
Although the novelty of Modular blockchain’s catalyst is yet to be fully realized, Polygon has taken two significant strides by implementing aggregated blockchain architecture. These advances from Polygon are poised to establish it as a trailblazer in emerging narratives and spark substantial engagement within its ecosystem, potentially leading to a rise in MATIC‘s value.
Could MATIC Price Reach $3?
In the next market cycle, there’s a good chance that the price of MATIC will surpass its previous record high of $2.70 and reach or even exceed $3. This prediction is based on the potential breakout occurring within the cryptocurrency market as a whole.
Bitcoin’s price could realistically increase by 160%, which would double its current market value. In comparison, MATIC‘s potential price increase is only 30% from its previous record high. This estimate may change based on market conditions and demand for the token.
The Bitcoin halving event is approaching within a few days, which could lead to a significant increase in its price. In turn, this surge is expected to positively influence the value of major cryptocurrencies, including MATIC. However, it’s challenging to pinpoint an exact peak for any specific asset at the moment. The market can be influenced by unforeseen factors, making precise predictions unnecessary. Nevertheless, it’s clear that Bitcoin’s market fluctuations will significantly impact MATIC and other prominent crypto assets.
FAQs
How high MATIC price could go after Bitcoin having 2024?
Could MATIC price reach $3?
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2024-04-17 13:08