Can Polygon Reach $1000: Yes Polygon Matic can reach $1000. In order, the reach $1000, Polygon Matic will have to rise 1220 from the current price.
However, Polygon can also reach $1000 by gaining 50% a year from now. If it does so in the next 17.5 years, Polygon Matic’s Price will be over $1000.
Note: Can Polygon reach $1000? The TVL of Polygon has collapsed since July and currently, it is at the lowest since April 2022.
Read on for ‘Can Polygon Reach $1000’
Can Polygon reach $1000? Why Polygon Matic Will Reach $1000?
With the widespread development in the field of blockchain, the cryptocurrency market is now not just about tokens but the entire blockchain ecosystem. Tokens are just a medium to power the blockchain, it is the blockchain that will gradually play a role in determining the value of tokens in the future.
The current price of Matic the native token of Polygon is less than $1. Event the all-time high of Matic was just $2.92 which shows that it is highly impossible for Matic to reach $1000. But there are several reasons that could play an important role in taking Polygon Matic to $1000.
1 Polygon Matic has an outstanding future because of its Technical Performance metrics which are one of the best in the Industry.
2 Like the Ethereum blockchain, Polygon also provides widespread utility to the users. Polygon blockchain can be used in developing DeFi (AAVE), Metaverse (Decentraland), NFT(Opensea) and other blockchain dApps.
3 Polygon network is well funded. Recently it has raised fresh capital this year that gives the founders the flexibility to build Polygon into a profitable blockchain that drives Matic Token demand even higher.
4 Polygon is gradually increasing its presence. The projects run on MATIC have increased, which increased the adoption of MATIC. Added to it, Polygon recently announced a partnership with Disney and others which makes them relevant and popular amongst new audiences.
5 Polygon Blockchain is faster. It has a capacity of processing 7,000 transactions per second which are leaps and bounds faster than the 15 TPS of Ethereum. Additionally, it is believed that despite the ETH 2.0 update MATIC will remain ahead due to constant developments and experimentation in the ecosystem.
6 It operates on one of the eco-friendly consensuses. Polygon operates on the Proof of stake mechanism which uses far less energy as compared to the Proof of Work mechanism. Polygon has also stated in its website that it is already carbon neutral.
7 Polygon provides Security as a Service either through Ethereum’s blockchain or through polygon’s own pool of professional validators.
8 Polygon takes a lead in terms of transaction fees which is in the range of $0.0005 to $0.2 and is minuscule compared to ETH’s $12. Polygon has saved more than $140 M in GAS fees till now.
9 One factor that is very much advantageous on Matic’s part is the supply of Matic tokens. There is a finite supply, which is around 10 billion MATIC and the circulating supply is 7.5 billion of that 10 billion. With this finite supply once the demand for MATIC tokens increases there may supply crunch, leading to positive price action.
Can Polygon reach $1000? What are Hurdles for Polygon Matic To Reach $1000?
Despite being one of the most attractive blockchian networks, there are some hurdles that could derail the journey of Matic to reach $1000. Polygon’s biggest competitor is Ethereum and the way ETH is marching ahead there may be time when most of the cryptos will move to Ethereum blockchain.
Despite Polygon MATIC positioning itself as a solution for Ethereum’s Scaling, Speed, and Transaction Fee issues, the less adoption of Polygon may become a barrier for its rise.
It must be noted that Polygon has not been able to build a consumer connection on par with say Shiba Inu or Dogecoin. Specifically in the United States. While this has improved over the last few months, it hasn’t reached the same levels as Shiba Inu while just about matching Dogecoin. Given Dogecoin’s use cases, Matic is clearly underperforming.
Can Polygon reach $1000: How and When Matic Will Reach $1000?
Can Polygon reach $1000: In order, the reach $1000, Polygon Matic will have to rise 1220 from the current price. However, Polygon can also reach $1000 by gaining 50% a year from now. If it does so in the next 17.5 years, Polygon Matic’s Price will be over $1000.
Can Polygon reach $1000: Video Analysis
Can Polygon reach $1000? Conclusion
Polygon is one of the most innovative and well-funded projects. Like all, it has some drawbacks but the advantages of the Polygon blockchain outsmart the drawbacks. Polygon has a bright future and the rise of Polygon is eminent. However, in order to reach $1000 all the facts including the market condition, macro factors, and blockchain adoption should be in favor of Polygon.