WILL MATIC REACH 1$ BEFORE 2023?
With rapid adoption and ongoing partnerships, investors have started asking if MATIC will reach $1. There is no straightforward answer to this question, as the price of MATIC is all dependent on the demand, supply and overarching market sentiment.
MATIC has demonstrated signs of strength and is up 60.98 percent since the quarter began. Despite this, the asset could still be some distance away from $1, as the further price action will depend on demand from the usage of Polygon as well as the underlying NFT market and market sentiment.
Polygon has seen a massive uprise in both users per week and transactions per week. Users per week have risen significantly in the past six to eight months, and transactions per week are about 3x higher than any other week in 2022. This would suggest that the Polygon network is being adopted by a wide array of individuals and businesses, pointing to the large potential of the project and its native token.
The trend on Polygon is again replicated by the NFT space. Meta and DraftKings was some of the major players in the space, who integrated Polygon into their platofrms. This helped to further raise the attention of the NFT space, as well as the technology behind it. This could point to further adoption of NFTs, and thus a potential upsurge in their trading volume.
The price of MATIC has risen by 14.8 percent since the start of Q3 of 2022. Despite this, the price still has some way to get to the $1 mark. The impressive rise in users and transactions per week suggest strong potential of Polygon, however the price of MATIC is still dependent on its adoption by more businesses, alongside the performance of the underlying NFT market. All these factors will determine just how long it will take MATIC to reach $1. The incredible trend in users and transactions per week suggest that the Polygon Network is appealing to a wide range of individuals and businesses, which could fuel future demand and increased usage. With an array of corporate partnerships and global brands, such as Adidas and Starbucks integrating Polygon, there is the potential for the price to reach $1 in the future.
However, predicting the price of cryptocurrencies is always a tricky matter, as there is never any guarantee that the asset will reach its target price. MATIC is no different, however the strong partnerships and healthy metrics suggest that we could be on the cusp of further price growth, which could potentially bring the price up to the coveted $1 mark. For now, investors and traders must continue to evaluate the dynamics of the Polygon Network, alongside the underlying NFT market and the performance of MATIC, to determine the future price of the asset. Until then, the potential Maturity of MATIC reaching $1 is still up in the air.