Matic Network Sets the Stage for Mass Adoption: A Look at Its Future
The trend of cryptocurrencies heading into the mainstream is pushing Polygon, now known as Matic Network, higher and higher in the crypto world. The “layer two” scaling solution that runs alongside the Ethereum blockchain has drawn the attention of major players in the game such as Aave, Curve, Draft Kings, Stripe, Reddit, The Walt Disney Company, Adidas, Starbucks, and Meta. The surge in these development deals and integration highlights the growing belief that projects such as these should be part of the ecosystem.
The news of the Starbucks rewards program launch has further catapulted Polygon into the global consciousness, opening opportunities that Ethereum just has failed to provide. The promise of faster transactions and low fees has attracted a wide variety of business-oriented players. The overall effect of the deals has been clearly noted in the data available. Users per week have risen significantly in the past six to eight months, while transactions per week are about 3x higher this week than any other week in 2022, hitting approximately 7.5 million. This means that the promising events of Polygon and its potential for mass adoption has been realized.
Transactions on the network are increasing sharply, and a variety of well-known companies are turning to Polygon to build their products on. Polygon’s native cryptocurrency, known as MATIC, is trading at $0.89, up 0.75 percent in the last 24 hours at the time of writing. The trend of rise in MATIC is consistent with the upward trend apparent in the past three months and quarters. The rise in MATIC also speaks to possible future predictions.
The partnership between Polygon and Starbucks highlights the growing potential for mainstream cryptocurrency adoption by consumer-oriented companies. This means that the possibility of seeing more major corporations using blockchain based solutions and exploring cryptocurrency as an investment option is much higher. The ability for companies to move beyond traditional banking models and leverage the technology’s potential to increase efficiency and productivity is likely to open the doors to global commercial adoption.
In addition to the partnerships and integrations, the general future outlook of Polygon’s growth appears bullish. The rise of NFT activity, while not showing in a commensurate increase in NFT trading volume on Polyton, suggests that more users are seeing the value of the technology and are utilizing it as an asset that can be owned. The integration of the blockchain into everyday life is a watershed moment. Many people are curious and watching to see the way in which blockchain technology develops and how the industry grows. With the current partnerships and integrations in place and the development of a Polygon based Starbucks rewards program, the indications are that the future of mainstream cryptocurrency adoption is heading in the right direction.
The potential for further growth of MATIC is never ending and will continue to expand as more companies realize the many benefits of Polygon’s “layer two” scaling solution that runs alongside the Ethereum blockchain. From faster transactions to low fees, the possibilities with Polygon and its native currency MATIC seem to be limitless. With its bullish future firmly in place, Matic Network is likely to set the stage for mass adoption in the near future.