could MATIC explode in 2023?

Updated on January 02. 2023 @ 9:27

the polygon maintains a reassuring image in the crypto landscape. Since its creation, the polygon and its crypto MAT play an important role in the ecosystem Ethereum. In this context, this network has been able to attract and continues to gain ground in its effort to provide a stable, fast and reliable environment for a large number Dapps who trust him.

However, MAT crypto is no exception to market challenges and has suffered a decline in value during this year 2022. What will 2023 hold?

Polygon crypto: a blockchain with multiple projects

the polygon (MAT) is a network developed as a side chain i blockchain Ethereum and based on a consensus e Proof of stake (PoS).

it is so Compatible with EVM and offers scalability of which Ethereum missing a lot.

the polygon crypto is born as ” the internet of blockchainsEthereum“. Its main feature is the variety of the solution blockchain that he offers. Indeed, in addition to its scaling capacity for Ethereumthis network is real feature aggregator for developers.

the polygon has never stopped attracting more and more designers since its creation in 2017.

In 5 years, MAT The network has multiplied by 10 the number of people working on its projects.

The number of developers present at crypto Polygon
The number of developers using the technology the polygon is multiplied by 10 in 4 years

This network, most of whose reviews are positive, is in constant motion and is actively working to expand technologies blockchain.

From “Zero-Knowledge” to the domestic KYC system, the polygon continues to innovate.

Its power is to rely on the capacities of Ethereumoffering a reliable, fast and much less expensive ecosystem.

This makes it possible to serve as test network for new projects under development.

it popularity continues to grow over the years. Recently, Metathe parent company of Facebookhas announced that it wants to rely on the polygon crypto to develop a service of NFT on the Instagram social network.

Tapeonline payment processing platform, also called the network the polygon. Based on blockchainStripe aims to provide crypto payment solution.

His new adventures allow the polygon (MAT) to exposure to the general public and develop its image as blockchain inevitable for all projects Dappscrypto or even Web3.

Is crypto MATIC strong?

Signs MAT lie 10th largest market ranking of the market cryptocurrencieswith 7 billion ALL dollars of capitalization.

It is a central element in the functioning of blockchain the polygon and plays mainly 2 roles:

  • Payment of Transaction Fees

As a helpful sign, MAT is the network-specific payment unit. Users of blockchain therefore they are forced to use this token to participate and interact within the rich ecosystem of the polygon.

It is operated by the mechanism of The Testimony of the Stakenetwork participants the polygon and its secondary chains put their end MAT and get rewards based on the same mark. The latter currently have an APR of 4.95%.

The rewards of standing up represent 12% of supply total that is 1.2 billion tokens dedicated to shares out of 10 billion.

According to the supply plan published at the beginning of the project, this threshold should be reached around April 2025.

Supply polygon (MATIC)
The supply curve of MAT in circulation.
As of January 1, 2023, 90% of supply the total is in circulation.
Source: Messari

In addition to its high-performance network, MAT also radiates through trust that cryptosphere actors carry.

Indeed, between July and December 2022, the number of addresses in the network has increased by 36% from 148,000 to more than 202,000. Likewise, the number of transactions continues to grow, surpassing those ofEthereum.

likewise, of MAT surpasses the leaders BTC AND ath.

Still over the last 6 months, crypto e the polygon has registered an increase of 60%. of its value since last July 1 when ath reached a low level +13.8% AND BTC ends in red with a -15.6%.

of MAT shows a 60% increase over the last 6 months.
Source: TradingView

It is interesting to note that until now, ath AND MAT reflected. The sign of the polygon closely followed her movementsEthereum. now MAT it seems to emerge independently.

This development shows or mark resilient and solid with considerable potential.

This is definitely the reason why more and more users are online the polygon.

Polygon: what evolution for 2023?

of MAT is definitely a sign to watch for 2023 for several reasons.

First of all, from a graphical point of view, the value of mark it is currently in an interesting configuration.

Daily MATIC price
of MAT it is currently in the accumulation phase

After suffering the full force of the entire market’s decline with the collapse of the Terra (LUNA), bear market looks finished on the crypto chart of the polygon.

Indeed, since August, mark e the polygon seems to have entered an accumulation phase. The value of the token is moving neutrally between $0.70 and $0.95

The accumulation phase is an important phase in analyzing a crypto cycle. She scores a period when long-term buyers are positioning themselves for raising the price.

Off the chain, this feeling is also reinforced by the many projects which should appear in the polygon.

This is especially the case partnerships declared prestigious. Let us cite as an example, Nike and Meta with developments NFT in progress which should be officially launched in 2023.

These projects will shed very important light the polygon that will pave the way for the general public.

with development of Dapps AND Web3, the polygon so it can reach the heights.

of MAT it is elastic and blockchain the polygon take a rest serious, attractive AND interesting under any circumstances.

However, it is important to note that despite everything, MAT remains dependent on the market as a whole.

Her path was violently affected by the fall of Earth. Tall bear market, mark missed 89% of its value to himATH registered on December 27, 2021.

However, to MAT it is of course an important asset in the crypto ecosystem. Although it is only an altcoin, it remainsone of the crypto giants.

The teams around the project are serious. Its community remains relatively strong and involved. Developers seem to be very attracted to the web and so the future should smile the polygon (MAT).

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