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Polygon(MATIC) Price Prediction, Will The Price $5 By 2021?

Matic Price Prediction

The post Polygon(MATIC) Price Prediction, Will The Price $5 By 2021? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Matic Network is the emerging cryptocurrency working on scalability blockchain platform. It processes secured, expandable and instant transactions powered by Proof of Stake side chains. It provides free Ethereum based cryptographic token transfers and payments.  Do you know? Matic Network is now rebranded to Polygon. With an intensified bullish rally, MATIC attracted many new and …

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Matic Network is the emerging cryptocurrency working on scalability blockchain platform. It processes secured, expandable and instant transactions powered by Proof of Stake side chains. It provides free Ethereum based cryptographic token transfers and payments. 

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Do you know? Matic Network is now rebranded to Polygon.

With an intensified bullish rally, MATIC attracted many new and strong hands, and as a result, the price rallied like a giant.And therefore, new retail traders look at Matic as one of the profitable investments in coming days.

Are you among the traders who share the same thought? This piece of writing is meant to provide you the in depth information on Matic Price Prediction for 2021 and beyond.

Table of contents

Overview

Cryptocurrency Polygon (Matic Netwrok)
Token MATIC
Price(At the Press time) $0.8022
Market Capitalization $4,162,996,418
Circulating Supply 5,188,388,130 MATIC
All Time High $0.8933 (April 28, 2021)
All Time Low $0.003012 (May 09, 2019)

Fundamental Analysis of Matic Network

Matic Network is a layer-2 scaling platform that facilitates fast and secure off chain transactions for payments and generalized off chain smart contracts. It is a scaling solution for the Ethereum network. It allows Ethereum based transactions to be processed quickly using innovative protocols.

Founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, Matic token is specifically used for staking and building user experience. Matic employs the plasma to develop decentralized applications. Plasma is a specific framework for easily creating decentralized applications that can interact seamlessly with each other. 

Also Read: Bancor Network Token Price Prediction, Will BNT Price Hit $10 by 2021?

MATIC Price Prediction 2021

Matic continued to trade at $0.0018 by early January 2021. Further the price started to rise and hit $0.043 by the end of January.  MATIC surprisingly listed an all time high of $0.5089 on 12th March and rallied further to hit a new ATH at $0.8933 on April 28. The token might reach a newer heights if it focuses on attaining more users and investors. 

Certain collaborations may result in enhancement of its protocol as well as the platform. The Matic might sink to as low as $0.2 if it fails to reach the users. At the end of 2021, Matic might be traded at the $2 mark.

MATIC Price Prediction 2022

Matic might resume the trade at $1.25 during the start of January 2022. The price might reach a newer heights if it gains the attention of the investors. The token might decline to $0.55 if the currency comes across supply pressure. By the end of 2022, the altcoin might be exchanged at $5.

Price Prediction For Next 5 Years

In 5 years, Matic could hit a new high by breaking its previous price records and it is anticipated to be in the top 50 cryptocurrencies list. Several inbound developments and partnerships might lead to its growth. The token might crash if bears go on pulling the prices down. The price might fall to $3.15. By the end of 5 years, Matic could trade at the $15 mark.

MATIC Market Prediction

Gov.capital

According to Gov.capital, Matic would trade around $0.087975 by the end of 2021 and $0.483 at the end of 2025.

Capital.com

Capital.com predicts one of the interesting predictions as according to their prediction, Matic could exchange more than $1 at the end of 2025,and would be trading more than $1.5 by the end of 2028.

DigitalCoinPrice

According to DigitalCoinPrice, Matic is anticipated to trade at an average of $0.6537 by the end of 2021 and could exchange at $1.24 at the end of 2025.

Cryptonewz

According to this platform, Matic price is expected to hit the milestone at $1 by the end of 2021 and reach $1.3 by 2022. 

Our MATIC Price Prediction

With a price of $0.0018, Matic initiated the year 2021. Further the price started to rise. The community might collaborate with certain projects and startups for the betterment of the protocol. As Matic comprises unique features such as scalability, security it may enhance its user base and it might hit a new all time high. The price might drop to $0.08 if it comes across any turbulences. At the end of 2021, the altcoin might be traded at $2, but in coming couple of months the price may hit the milestone at $1.

Also Read: PundiX (NPXS) Price Prediction, How High Will The Price Go In 2021?

Historic Market Sentiments

2019

Matic network initiated its journey on the crypto sphere on 29 April 2019 with a price of $0.004. The token steadily started to rise after. With certain variations, the price hit a high of $0.03 by the end of May and further declined to $0.01 by early June. Later, the token continued to remain stable at a price of $0.02 till the end of July. 

Interestingly, the token plunged to $0.01 by early August and resumed to be in the same price level with minor variations until November. Effectively, Matic spiked to $0.04 by early December as it gained the attention of the investors. Tremendously, the token declined to $0.01 by mid December. At the end of 2019 Matic was trading at $0.014. 

2020

On a bearish note, the Matic continued to trade at $0.014 during the dawn of January 2020. Later, the price started to variate and reached $0.02 by February. Dramatically, the token sank to $0.006 by mid March as the crypto market crashed due to Covid-19 outbreak. Further the price started to recover and reclaimed its resistance level at $0.025 by the end of May. Further the token hit $0.031 by mid August and plunged to $0.012 during the start of November. At the end of December 2020, Matic was exchanging at $0.017.

FAQ

What makes Matic a unique currency?

Matic is a unique cryptocurrency as it has the features like security, scalability, asset interoperability. 

What is the time taken by Matic network to process a transaction? 

The transaction can be processed in 1 second or less in the Matic network.

Which is the consensus algorithm used by Matic network?

Matic network uses the Proof of Stake consensus algorithm and Plasma framework.

Which is the name that the Matic network is rebranding to?

Matic network is rebranding to Polygon. 

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Source: https://coinpedia.org/price-prediction/matic-network-matic-price-prediction/

Blockchain

Crypto Firm Coin Metrics Raises $15 Million Led by Goldman Sachs

Crypto analytics firm Coin Metrics has raised $15 million in funding led by investment bank Goldman Sachs for the company’s global expansion.

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Crypto analytics firm Coin Metrics has raised $15 million in funding led by investment bank Goldman Sachs. Founded in 2017, the firm is planning to use the funding proceeds to grow in Europe and Asia, creating new products while expanding its current offerings.

Coin Metrics Raised $15 Million Led by Goldman Sachs

Coin Metrics, a crypto data provider to institutional clients, has raised $15 million through investors led by Goldman Sachs Group, according to an announcement from the company. The Series B financing will be used to expand on the company’s global expansion.

Coin Metrics provides cryptocurrency market data, feeds, indices, and network risk solutions with clients such as Fidelity Investments, Osprey Funds, and BlockFi.

READ  Goldman Sachs CEO Sees ‘Big Evolution’ Coming to Crypto Space

BlockFi, Acrew Ventures, Morningside Group, and Warburg Serres Investments also participated in the funding round.  While Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, and Collab+Currency each contributed to their respective stakes in the company.

The managing director at Goldman Sachs, Mathew McDermott, will be serving on Coin Metrics’ board of directors.

“Data is critical for the mainstream adoption of crypto assets by traditional investors and financial services players. Our clients will greatly benefit from Coin Metrics’ institutional-grade data insights and emerging risk management tools,” he adds.

Goldman Sachs Shows Interest in Bitcoin

Goldman Sachs has been showing an increased interest in Bitcoin this year. In mid-March, the investment bank filed with the U.S. Securities and Exchange Commission for launching a Bitcoin exchange-traded fund (ETF). Besides, a month later, it announced that it would soon offer bitcoin investment vehicles to its clients.

READ  Facebook Aims to Hire People in Ireland for Libra Project

On leading Coin Metric’s investment round, Marianna Lopert-Schaye, firmwide strategy at Goldman Sachs, said:

“We are excited to be leading their (Coin Metrics) Series B, thereby enabling their growth and supporting their mission to be the leading provider of data-driven market insights and intelligence for institutions in crypto.”

#Coin Metrics #Goldman Sachs #Series B Funding Round

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Source: https://www.cryptoknowmics.com/news/crypto-firm-coin-metrics-raises-15-million-led-by-goldman-sachs

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Bitcoin, Polkadot, Bitcoin Cash Price Analysis: 06 May

Many of the market’s altcoins like Polkadot and Bitcoin Cash, at press time, were refusing to follow Bitcoin’s lead to trade sideways and consolidate on the charts. With ETH climbing to a new ATH and

The post Bitcoin, Polkadot, Bitcoin Cash Price Analysis: 06 May appeared first on AMBCrypto.

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Many of the market’s altcoins like Polkadot and Bitcoin Cash, at press time, were refusing to follow Bitcoin’s lead to trade sideways and consolidate on the charts. With ETH climbing to a new ATH and the altseason well and truly in flow after BTC’s market dominance fell again, such contrarian price actions are likely to be even more frequent in the short term.

Bitcoin [BTC]

Source: BTC/USD on TradingView

While the rest of the market has surged in the time being, Bitcoin, the world’s largest cryptocurrency, has traded within a $10,000-channel range for the past two months. While the king coin did register an ATH of close to $65k back in April, at the time of writing, it was well below the same, valued at just under $59,000.

The king coin’s on-chain metrics and trading volumes have remained healthy, however, with many in the community expecting greater highs from the crypto once BTC breaches the aforementioned range.

While the mouth of Bollinger Bands was closing in to suggest that price volatility may fall soon, Chaikin Money Flow registered an uptick that saw it move above zero.

The cryptocurrency was in the news a few days ago after Tesla sold some of its Bitcoin holdings to prove its liquidity, a move that fueled quite a stir in the community.

Polkadot [DOT]

Source: DOT/USD on TradingView

At the time of writing, Polkadot was ranked 8th on CoinMarketCap’s charts, with its position on the same superseded by the performances of other alts such as Cardano and Dogecoin over the past few months. Unlike Bitcoin, DOT has been on an uptrend somewhat since the market-wide depreciation event over the 24th and 25th of April. In fact, the last 7 days saw DOT climb by 19%.

Parabolic SAR’s dotted markers were observed to be under the price candles, a sign of the bullishness prevailing in the DOT market. Something similar was pictured by Awesome Oscillator’s histogram, with the same expected to head above the half-line soon.

As highlighted by a recent analysis, if the present breakout continues, the next targets for DOT would lie at the $40 and $42-levels.

Bitcoin Cash [BCH]

Source: BCH/USD on TradingView

Until a few days ago, Bitcoin Cash’s price action was destined to mimic BTC’s. This changed recently, however, with the fork coin surging by almost $500 in a 24-hour window. On the back of the said hike, BCH also climbed to touch levels unseen this year.

At the time of writing, corrections had started to set in despite an uptick in trading volumes being seen.

While the MACD line registered a sharp divergence from the Signal line on the charts, Relative Strength Index was dipping towards the equilibrium zone after a brief foray into the overbought zone.

As was the case last time, right now, it’s still difficult to ascertain if the crypto will be able to sustain its press time price action.


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Source: https://ambcrypto.com/bitcoin-polkadot-bitcoin-cash-price-analysis-06-may

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Is this region the new ‘Mecca’ for Bitcoin miners?

China-based Bitcoin mining industries have long dominated the mining sector. In 2014, 90% of the global hashrate came out of China. But is there a shift in the narrative after 8 years? Chun Wang, t

The post Is this region the new ‘Mecca’ for Bitcoin miners? appeared first on AMBCrypto.

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China-based Bitcoin mining industries have long dominated the mining sector. In 2014, 90% of the global hashrate came out of China. But is there a shift in the narrative after 8 years?

Chun Wang, the co-founder of one of Bitcoin’s largest mining pools, F2Pool, gave his opinion on the same. He stated:

Here at f2pool_official, in April 2021, the first month in our 8 years of operation, we have seen more $BTC hashrate coming from outside of China than from the inside. The shifting is real.”

Another prominent crypto figure, Barry Silbert reiterated a similar proposal in his tweet, dated April 22.

Although a major chunk of Bitcoin mining is still based out of China, there are hints that North America is slowly gaining a foothold in this sector.

What’s the significance of the new paradigm shift? 

According to a blog published last year by The University of Cambridge, China-based mining operations declined from 90% in 2014 to around 65% as of late June 2020, US accounted for 8.5%. The mentioned decline was mainly attributed to global geopolitical impact on the mining industry.

However, as of Jan 2021, China’s share hashrate distribution fell by another 10% (around 55% now), whereas the US saw an incline of 11%.

Source: Miner Daily

Furthermore, China’s cheap coal-powered electricity could be one of the many reasons that triggered many debates about the carbon footprint of bitcoin’s mining industry.

On the contrary, Texas in the US has now become the ‘Mecca’ for Bitcoin miners as stated in a blog published recently by Nasdaq. Using renewable resources could be one of the key factors for this gradual shift.


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Source: https://ambcrypto.com/is-this-region-the-new-mecca-for-bitcoin-miners

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Ethereum, Uniswap, Ethereum Classic Price Analysis: 06 May

Bitcoin’s resistance to a stronger foray towards the $60,000-level has had a corresponding effect on the market’s altcoins historically. This time, however, it was Ethereum to the rescue, with the wor

The post Ethereum, Uniswap, Ethereum Classic Price Analysis: 06 May appeared first on AMBCrypto.

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Bitcoin’s resistance to a stronger foray towards the $60,000-level has had a corresponding effect on the market’s altcoins historically. This time, however, it was Ethereum to the rescue, with the world’s largest altcoin’s performance allowing other alts to hike too. This was the case with Uniswap and Ethereum Classic as well.

Ethereum [ETH]

Source: ETH/USD on TradingView

While the king coin was trading below $60k, ETH, at press time, was valued at just under $3,500, having hit an ATH of $3,534 less than 24 hours ago. The aforementioned ATH came on the back of a solid uptrend for the alt, an uptrend that saw the crypto surge by over 32% in a week. With the cryptocurrency’s on-chain metrics flashing bullish cues at the time of writing, more upside can be expected from ETH in the near term.

Interestingly, the last few trading sessions noted a spike in trading volumes too, a sign of the price action being supported by market support.

While Parabolic SAR’s dotted markers were under the price candles and underlined the bullishness of the ETH market, Relative Strength Index was well into the overbought zone, hitting highs unseen since January. With RSI not having a lot of room to move north on the charts, the possibility of a reversal should be expected too.

Here, it’s also worth noting that ETH’s surge up the charts has followed a similar spike in the OI and volumes of CME ETH Futures.

Uniswap [UNI]

Source: UNI/USD on TradingView

Uniswap, the crypto-market’s leading DeFi coin, was ranked 11th on the charts at press time. Thanks to the general bullishness in the altcoin market, UNI was also quick to recover from the market-wide depreciation on the 25th of April. In fact, the crypto appreciated by over 42% in just 4 days.

Since then, however, UNI has stalled somewhat on the price charts, with the crypto continuing to trade within a tight price range over the last few days. At the time of writing, the release of V3 was yet to have an effect on the crypto’s price.

While MACD line was above the Signal line, it was nearing a bearish crossover. This suggested that a trend reversal remained a possibility. On the contrary, Chaikin Money Flow was in good health with a reading of almost 0.20.

Ethereum Classic [ETC]

Source: ETC/USD on TradingView

Ethereum Classic, alongside Dogecoin, has been one of the market’s best performers this month, with the altcoin climbing by an astounding 215% in the last 7 days alone. Valued at $106 at press time, ETC was well past the $94-mark Donald McIntyre proposed as a near-term target for the crypto in a video a few weeks back. It’s worth highlighting, however, that his projections were predicated on ETH hitting $3,000. With ETH close to $3,500 now, it would seem that the strong correlation between the two has come into play this time around.

While the mouth of Bollinger Bands was diverging to point to incoming price volatility, Awesome Oscillator’s histogram pictured an uptick in market momentum.


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Source: https://ambcrypto.com/ethereum-uniswap-ethereum-classic-price-analysis-06-may

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